Hydro-Quebec CapiTech Invests US$5M in Enerwise Global Technologies, Inc.
Canada NewsWire
(Copyright Canada NewsWire 2001)
Montreal, May 9 /CNW/ — Hydro-Quebec CapiTech has acquired a financial interest worth US$5M in Enerwise Global Technologies, Inc. CapiTech now holds a minority interest in the voting shares of this company, whose head office is in Kennett Square, Pennsylvania. Enerwise Global Technologies has thus completed a first round of financing of about US$ 10M, in which EnerTech Capital Partners of Pennsylvania also participated.
Enerwise Global Technologies is a spin-off of Conectiv Solutions, itself a subsidiary of Conectiv, a Fortune 500 company headquartered in Delaware that provides safe, reliable, and affordable energy service to more than one million customers in New Jersey, Delaware, Maryland, and Virginia. Enerwise Global Technologies addresses the energy intelligence needs of medium to large enterprises in a broad range of commercial and industrial (C&I) segments for which managing the consumption, reliability, and cost of energy is mission critical. By capturing, integrating, analyzing and monitoring vital energy and operational data for its customer, Enerwise Global Technologies is able to recommend and implement solutions to improve facility operations, increase reliability and reduce costs.
Hydro-Quebec CapiTech inc., a Hydro-Quebec subsidiary created in 1998, is a corporate venture-capital fund that invests in companies whose technological products and services are related to the energy field.