Chyler Leigh Julie Berry Lori Heuring Nicole Scherzinger Jill Arrington
Friday, July 8, 2011
Clean Urban Energy Raises $7 Million To ?Turn Buildings Into Batteries?
A Chicago startup Clean Urban Energy (CUE) raised $7 million in a series A round from Battery Ventures and Rho Ventures, the company announced today. CUE's software-as-a-service "exploits the thermal mass of commercial office buildings to make [them] more efficient," according to a company press statement. The software was developed at the University of Colorado, which struck an exclusive, research and development and licensing agreement with CUE in 2008. CUE claims it can lower buildings' energy expenses by 15-30 percent through predictive modeling and optimization. The company can also aggregate energy demand across portfolios of buildings in cities, which means it has the potential to provide more macroscopic benefits...
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