AMEE fuelled by leading VC funds

London :: San Francisco :: New York :: 11th December 2008

(PDF Version:AMEE PR 20081211)

AMEE, the World’s Energy Meter, has secured substantial Series A financing from leading VC funds in the USA and UK.

AMEE is a web-based service (API) that combines measurement, calculation, profiling and transactional systems, representing emissions data from 150 countries and regions. As a neutral data aggregation platform, AMEE’s vision is to enable the measurement of the “Carbon Footprint” of everything on Earth. AMEE aims to assist with the development of energy and carbon as a global currency, assisting governments and companies that need to account for and trade internationally in CO2 emissions.

The collaboration between O’Reilly Alphatech Ventures (OATV), Union Square Ventures (USV) and The Accelerator Group (TAG) will enable AMEE to expand its reach by enhancing its data, and extend globally.

The AMEE platform is already used internationally by many organisations including;
UK Government (Defra/DECC), Morgan Stanley, Google, Radiohead, Nesta, the Irish Government, the Welsh Assembly, the Energy Saving Trust, BRE, Sun Microsystems, plus numerous other IT, business services and software companies.

Gavin Starks, Founder and CEO of AMEE commented, “AMEE’s growth over the past 12 months has been quite remarkable. We are delighted to have the financial and strategic support of such experienced investors to take our business forward.

AMEE is driving change by increasing the accuracy and transparency of emissions and consumption in a manner that has not been achieved by any legislation, market or service to date.

We have developed and demonstrated a forward-thinking and innovative business model. It is based around neutrality, scale and collaboration. This reflects the dramatic changes that will impact our societies, their financial and social systems in the years to come.

The execution of the Climate Change Act in the UK last week, combined with President Elect Obama’s forward-looking Federal Cap & Trade statements are indicators of the scale of change approaching us.”

Bryony Worthington, Head of International Policy at AMEE added, “As one of the authors of the UK Climate Change Act, I am delighted to be bringing dedicated solutions to industry and consumers. The time to act is now.”

Mark P. Jacobsen, Managing Director of O’Reilly AlphaTech Ventures (“OATV”), commented: “AMEE’s vision to aggregate all of the energy data in the world fits OATV’s mission to invest in stuff that matters. With the recent sea change in America’s political climate, we look forward to AMEE bringing its platform-based data service to clients in the States.”

Albert Wenger, Partner at Union Square Ventures, commented, “We believe that emissions information is critical to better decision making by individuals and companies. We are excited that AMEE’s service helps to substantially improve the timeliness and accuracy of emissions measurement.”

ABOUT AMEE
Developed since 2005 and launched in 2007, AMEE catalyses change by providing benchmarks for measurement, tracking, collaboration and reporting. AMEE is complementary to and can facilitate smart grids, information systems, legislative frameworks and compliance schemes.

As a data aggregation platform business, AMEE delivers new standards in functionality, transparency and interoperability for environmental assessment. This includes aggregating every emission factor and methodology related to CO2 and energy assessments (individuals, businesses, buildings, products, supply chains, countries, etc.), and all the consumption data (fuel, water, waste, quantitative and qualitative factors). The service combines measurement, calculation, profiling and transactional systems.

ABOUT OATV
O’Reilly AlphaTech Ventures (OATV) is a seed stage venture capital fund located in San Francisco, CA. OATV is in the business of funding disruptors, innovators and hackers of the status quo. OATV takes a cash efficient approach to seeding and growing businesses which creates a natural alignment with the entrepreneurs it funds. In addition to capital, OATV brings a depth of operational experience and industry relationships to amplify the efforts of its portfolio companies.

ABOUT USV
Union Square Ventures is an early stage venture capital fund located in New York City. USV focuses on IT-enabled services in media, marketing, financial services, and other verticals. USV looks to back passionate, experienced entrepreneurs who are focused on creating highly scalable services and significant value propositions for their end users.  The USV portfolio includes Etsy, Twitter, Indeed and Zynga.

ABOUT TAG
The Accelerator Group (TAG) is a seed stage fund based in London which invests in both European and US early stage companies including Moo, Dopplr, Daylife, LoveFilm, Fotonauts, Stardoll, SpotRunner and Zemanta. TAG’s current portfolio numbers around 40 companies.

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