@Ventures Invests in Powerit Holdings, Inc.
31 Maggio 2007 - 10:30PM
Business Wire
@Ventures, the venture capital business of CMGI, Inc. (Nasdaq:
CMGI), announced today that it has made a $3.0 million investment
in Powerit Holdings, Inc., a leader in intelligent energy-demand
management. @Ventures led the company�s $7.1 million Series A
financing round, joined by new co-investor Expansion Capital
Partners, and existing investors including Stellar Holdings and
company management. Powerit Holding�s US subsidiary, Powerit
Solutions, provides energy demand response and demand control
solutions for industrial and commercial companies. These
easy-to-integrate, proprietary solutions enable major cost savings
on electricity bills with no impact to productivity or quality, as
demonstrated with hundreds of installations of the technology to
date. Powerit Holding�s European subsidiary, Diana Control
(www.diana.se), also provides an industry-leading building controls
system for commercial building owners in the region. Powerit
Solutions is especially well-poised to support the growth of demand
response (DR) services to the electric utility industry. Powerit�s
main product, Energy Director�, automatically predicts, regulates,
and lowers demand, and is a system approved for DR incentive
programs by public utilities which have strong interest in finding
cost saving and energy conservation solutions for large industrial
users. �We are pleased to receive this funding from @Ventures and
Expansion Capital Partners, two recognized leaders in clean
technology venture capital,� said Claes Olsson, CEO of Powerit
Holdings. �We have been getting tremendous interest from industrial
and utility customers who need proven demand response and demand
management solutions, and this infusion of capital will allow us to
accelerate our growth and product offerings to meet customer
needs.� �Powerit�s technologies are uniquely-suited to meet the
demanding needs of large industrial electricity users,� said Marc
Poirier, Managing Director, @Ventures. �By helping these companies
reduce their energy bills in an automated way and without hindering
productivity, Powerit delivers strong economic value to customers.
And by helping utilities to manage their peak demand periods
without the addition of new power plant capacity, Powerit helps
address the increasing demand for electricity while minimizing
carbon emissions and other environmental impacts associated with
power generation,� added Poirier. In conjunction with the
investment in Powerit Holdings, Inc., Poirier has joined the
company�s board of directors. About Powerit Holdings, Inc. Powerit
Holdings, Inc. (�Powerit�) is a global leader in intelligent
energy-demand management. Through application of the company�s
technology, Energy Director�, companies manage and reduce peak
energy demand � saving money and conserving energy without
compromising production and processing operations or building
comfort. There are hundreds of installations of the company�s
technology globally, many in industrial sectors that have high
energy demand, including mechanical fabrication and manufacturing,
agriculture and food products, petroleum and petrochemicals, forest
products, and primary metals fabrication, as well as in commercial
and recreational facilities. Powerit Holdings, Inc. is
headquartered in Seattle, Washington. For more information, please
visit www.poweritsolutions.com. About @Ventures @Ventures provides
venture capital to early stage and mid-stage technology companies.
Formed in 1995, @Ventures has funded more than 70 software, IT,
Internet, and clean energy companies. The primary focus of
@Ventures� fifth fund, formed in 2004, is on investments in the
cleantech sector, including alternative energy, energy storage and
efficiency, and water purification technologies. For more
information, visit: www.ventures.com. About CMGI, Inc. CMGI, Inc.
(Nasdaq: CMGI), through its subsidiary ModusLink, provides
industry-leading global supply chain management services and
solutions that help businesses market, sell and distribute their
products around the world. In addition, CMGI�s venture capital
business, @Ventures, invests in a variety of technology ventures.
For additional information, visit: www.cmgi.com. This release
contains forward-looking statements, which address a variety of
subjects including, for example, the expected achievements by
Powerit Holdings, Inc. All statements other than statements of
historical fact, including without limitation, those with respect
to Powerit Holdings� goals, plans and strategies set forth herein
are forward-looking statements. The following important factors and
uncertainties, among others, could cause actual results to differ
materially from those described in these forward-looking
statements: Powerit Holdings� success, and in turn, @Ventures� and
CMGI�s success with respect to this investment depends on Powerit
Holdings� ability to execute on its business strategy and the
continued and increased demand for and market acceptance of its
products and services; Our ability to earn returns on our
investment, or even recover our capital, is dependent upon factors
outside of our control, including the success of our portfolio
companies� businesses, and the market for initial public offering
and mergers and acquisitions. For a detailed discussion of
cautionary statements that may affect CMGI's future results of
operations and financial results, please refer to CMGI's filings
with the Securities and Exchange Commission, including CMGI's most
recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q. Forward-looking statements represent management's current
expectations and are inherently uncertain. We do not undertake any
obligation to update forward-looking statements made by us.
Grafico Azioni Cmgi (MM) (NASDAQ:CMGI)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Cmgi (MM) (NASDAQ:CMGI)
Storico
Da Mag 2023 a Mag 2024