Wednesday, January 20, 2010
Jessica Dolmer, email@example.com, Tel: 416-987-1024
Toronto, January 20, 2010 – ecobee, a leader in the Smart Grid space, has received
$6.73M in venture capital financing. The funding will be used to expand ecobee’s sales,
marketing and product footprint. The financing, totaling $6.73 million, comes from the
Ontario Emerging Technologies Fund (OETF), JLA Ventures and Tech Capital Partners.
“This investment represents a strong endorsement for our company and our traction in the
Smart Grid space.” says Stuart Lombard, President/CEO of ecobee. “ecobee is honored to
have the solid financial backing of this investment team.”
“ecobee has demonstrated tremendous success in the Utility markets and the company’s
sector-changing technologies are why we are committed to this company” states Tawfiq
Arafat, Partner, JLA Ventures.
“ecobee is a model of innovation and entrepreneurialism, and continues to surpass our
expectations,” said Tim Jackson, Partner at Tech Capital Partners. “Their success in the
competitive North American market exemplifies why we chose to invest.”
ecobee was founded in July 2007 to deliver intelligent conservation solutions for real
people. The company is engaged in Utility Smart Grid projects across North America.
ecobee’s products are being sold through leading HAVC Distributors and Contractors for
use in single family homes (both new and retrofitted), multi-family dwellings and light
commercial properties. ecobee has received prestigious national awards and honors. For
more information, please visit www.ecobee.com
About the Ontario Emerging Technologies Fund
The Ontario Emerging Technologies Fund (OETF) is a direct investment fund established
in 2009 by the Province of Ontario and administered by the Ontario Capital Growth
Corporation (OCGC), an agency of the Ministry of Research and Innovation. The OETF
is a $250-million, five-year fund that co-invests alongside qualified investors in
innovative, high-growth, private Ontario companies. The fund focuses on investments in
Ontario companies in three sectors: clean technology, life sciences and advanced health
technologies, and digital media and information and communications technology.