ConnectDER LLC has completed a seed funding round of $600,000 lead by investors from 1Energy Systems and Element 8. 1Energy Systems is a Seattle-based developer of management systems for energy storage and other distributed resources. Element 8 is a network of angel investors focused exclusively on early-stage cleantech and sustainability solutions. The funding will be used to support the scale up of the ConnectDER product for delivery on several new significant utility customer contracts (to be announced).
David Kaplan, CEO of 1Energy and co-lead on the investment, said of ConnectDER, “We’re excited to be investing in ConnectDER. They’ve got an innovative solution to a real-world problem that can be deployed immediately. In addition, their team has impressed us with their capability and commitment to delivering real value for customers”.
A link to the Element 8 press release is here: http://www.element8angels.com/portfolio-news/12-companies-get-funding-through-element-8/
Here at ConnectDER, we’re humbled to receive the support of such reputable organizations whose missions so closely mirror our own. For us, this is a vote of confidence not only in what we’re doing but who we are and why we’re doing it, which is really what this is all about. We’re looking forward to deepening our collaboration with our new investors and advisors.
About 1Energy Systems
1Energy Systems delivers control system software and power system engineering services to help utilities integrate distributed energy resources into the grid. Their control software for energy storage systems (ESSs) runs patent-pending algorithms that help utilities maintain power quality on circuits impacted by solar and other renewables, while taking full advantage of energy storage and other distributed energy resources. More information is available at: www.1energysystems.com.
About Element 8
Founded in 2006 as Northwest Energy Angels and renamed Element 8 in 2014, the organization was the first angel investment group in North America to focus exclusively on cleantech, and continues to be a leading funder of early stage companies across the continent. Element 8’s accredited investors are committed to a prosperous and sustainable future through clean technologies. Element 8 partners with outstanding entrepreneurs to build successful companies, and leverages its members’ collective expertise to accelerate the transition to a cleaner future and better world. To date, members have invested more than $18 million in more than 50 companies in California, Colorado, Hawaii, Illinois, Maryland, Montana, New York, Oregon, Washington, Washington, D.C. and British Columbia, Canada. More information is available at: www.element8angels.com.