BRANCHBURG, N.J. and BOSTON, July 12, 2011 /PRNewswire/ -- Noveda Technologies ("Noveda"), the leader in web-based, real-time energy and water monitoring, today announced the acquisition of MakeMeSustainable ("MMS"), an energy efficiency, software and services company headquartered in Boston, MA.
The transaction was funded through a mix of cash and Noveda stock and as part of the agreement, the founders and employees of MMS will join Noveda, effective immediately.
MakeMeSustainable provides industry-leading energy and environmental assessment tools, that enable corporations, organizations and educational institutions to effectively view, manage, and reduce their energy and water consumption. The company's recently launched enterprise-grade efficient facility tool, Effacility, enables audits and analysis of energy and water use, which then feeds into a robust recommendation engine to provide targeted energy and water saving solutions. The company also operates a successful consumer-facing carbon calculator and social network, which brings together energy-conscious consumers and leverages their collective network to affect change and promote green products and services.
"More and more businesses and consumers are looking for easy-to-use solutions to reduce their energy consumption and achieve savings," said Govi Rao, president and CEO of Noveda. "The acquisition of MMS enhances our ability to satisfy this unmet need by integrating their online portal, technology platform, and toolset with our real-time, web-based energy and water monitoring solution." He added, "Our enhanced and integrated platform will enable consumers to be 'smart users' and lay the foundation for smart grid solutions. Our highly intuitive user interface, leveraging existing global platforms, is geared to increase global awareness on energy efficiency and water conservation issues, as demonstrated by users in over 30 countries. The MMS team brings additional skills that will enhance our capability significantly and we are very excited to have them join us."
The combined product suite will also feature a social media-based platform that leverages existing communities, crowd-sourced energy and water solutions, and educational tools, enabling Noveda to access new markets and serve new clients. The new social media-based platform will expand Noveda's portfolio in education and training tools that promote awareness and help drive energy and water conservation.
"We are excited to join the Noveda team," said Benjamin Brown, CEO of MakeMeSustainable. "MMS's existing tools and platform will integrate seamlessly with Noveda's vision for engaging stakeholders at all levels to reduce energy and carbon usage through real-time monitoring. We look forward to further growth in our shared goal of enabling financial and sustainable results for companies, institutions, and individuals."
About Noveda Technologies
Noveda Technologies is an innovative leader in real-time, web-based energy and water monitoring. The company's hardware, software and consulting services help reduce energy and water usage, optimize performance of renewable energy systems, and increase green footprint for customers across commercial/retail, industrial, government, education, renewable and utility sectors. Noveda also offers complementary energy and water education and training programs and has a global presence, with offices in the US, UK, India and Israel.
For more information, visit http://www.noveda.com or call 908-534-8855.
MakeMeSustainable is a catalyst for change, empowering individuals to reduce their environmental impact and save money by connecting how we feel about our environment with our behavior. The company also provides industry-leading energy management tools that allow businesses and institutions to fully understand their carbon footprint and begin making changes to decrease their energy usage and financial costs. MakeMeSustainable was founded in 2007 by Benjamin Brown, David Delcourt and Adam Brown, and funded by Beacon Angels of Boston. To learn more about the company, visit http://www.makemesustainable.com.
SOURCE Noveda Technologies