SCI Completes Acquisition of ServidyneAugust 30, 2011
Scientific Conservation, Inc. closes series C of $9.6M led by Triangle Peak Partners.
SAN FRANCISCO, CA /PRNewswire/ -- Scientific Conservation, Inc., (SCI) a leading building energy management company for the $5 billion commercial building market, announced that it completed its previously announced acquisition of Servidyne, Inc. following approval of the transaction by Servidyne's shareholders in a special meeting held August 26, 2011. The new combined company, SCIenergy Inc., formally launches next month.
"This announcement marks a significant step forward in bringing together our best-in-class management teams and operations, a combined 160 employees worldwide, and numerous loyal and delighted customers. We hope to change the customer experience for energy and systems management by using an Intelligent Retro Commissioning approach that leverages the SCIenergy Cloud," said Russ McMeekin, CEO, SCI.
"We are pleased by this overwhelming support and approval by our shareholders. As part of the newly formed SCIenergy Inc. family we are better positioned for Mining The Fifth Fuel," said Todd Jarvis, President, Servidyne Inc.
SCI also announced it has raised $9.6 million in its third round of venture capital funding led by existing investor, Triangle Peak Partners. Current investors, DFJ, DFJ Growth and Westly Group also participated in the round earmarked to fund strategic growth.
About Scientific Conservation
Scientific Conservation, Inc., (SCI) a leading provider of energy efficiency via predictive diagnostics and analytics solutions for the $5 billion commercial building market. The company's suite of energy management solutions uses the industry's first software-as-a-service (SaaS) platform to help reduce annual energy spending by comparing predicted energy and system efficiencies against real-time operation. The company's headquarters are in San Francisco, CA, with its technology center in Atlanta, GA.
Servidyne, Inc. is headquartered in Atlanta, GA, and operates globally through its wholly-owned subsidiaries. The Company provides comprehensive energy efficiency and demand response solutions, sustainability programs, and other products and services that significantly enhance the operating and financial performance of existing buildings. Servidyne enables its customers to cut energy consumption and realize immediate cost savings across their portfolios, while reducing greenhouse gas emissions and improving the comfort and satisfaction of their buildings' occupants. The Company serves a broad range of markets in the United States and internationally, including owners and operators of corporate, commercial office, hospitality, gaming, retail, light industrial, distribution, healthcare, government, multi-family and education facilities, as well as energy services companies and public and investor-owned utilities.
About SCIenergy Inc.
SCIenergy, a merger of Scientific Conservation and Servidyne, is the global leader in providing a cloud-based energy management platform for building owners and operators. The SCIenergy Cloud integrates high-tech solutions with high-touch actionable insights. Headquartered in San Francisco with an Operations & Technology Center in Atlanta, SCIenergy has more than 160 employees worldwide, with flagship customers in the USA, Canada, Europe, Asia and Australia. Industry accolades include, Business Partner in GE's Ecomagination Challenge 2010, recipient of the 2010 San Francisco Business Times Green Business Award, and nine-time recipient of EPA's Energy Star Partner of the Year Award.
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