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CORRECTING and REPLACING eCurv Inc. raises $2.5 Million in Series A funding round to reduce electricity costs for commercial customers

Stocks in this article: EXC

Headline of release should read: eCurv Inc. raises $2.5 Million in Series A funding round to reduce electricity costs for commercial customers (instead of Led by Constellation, eCurv Inc. raises $2.5 Million in Series A funding round to reduce electricity costs for commercial customers).

The corrected release reads:

ECURV INC. RAISES $2.5 MILLION IN SERIES A FUNDING ROUND TO REDUCE ELECTRICITY COSTS FOR COMMERCIAL CUSTOMERS

eCurv, Inc., a privately held technology firm rolling out a patented means to reduce electricity charges for commercial customers, announced today it has closed a $2.5 million Series A round of funding led by Constellation Technology Ventures, the venture capital arm of Exelon Corporation. Other investors include Vodia Ventures and Massachusetts Clean Energy Center. The funding will be used to scale eCurv’s operations and hire new employees.

Modeled after the digital queuing technology that has enabled the IT and mobile telecommunications sectors to profitably scale their service capacity for over 20 years, eCurv’s QPAC TM (Queued Power Access) service automatically queues the access of electric loads, such as HVAC systems, electric pumps, motors, battery charging, and heating and refrigeration equipment, avoiding expensive peak demand events.

“eCurv’s new method for electricity distribution reliably reduces utility charges through the digital queuing of electric loads,” said Edison Almeida, president and CEO of eCurv. “eCurv’s QPAC TM software service delivers significant reduction in the demand component of our customers’ electricity bill with no modifications to their existing equipment.”

“eCurv offers commercial customers a simple, smart solution for reducing peak electricity demand,” said Michael Smith, Constellation vice president and head of Constellation Technology Ventures. “eCurv’s innovation has the potential to transform how electric loads interact with energy supply for a wide variety of demand management applications.”

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