Serious Energy Acquires Agilewaves

SUNNYVALE, Calif.--()--Serious Energy, Inc., the leader in energy efficiency solutions that increase the value of buildings, today announced it has acquired Agilewaves, Inc., a building energy management technology company. Upon closing of the transaction, the engineering and advanced capabilities of the Building Optimization System (BOS) created by Agilewaves will be integrated with those of Serious Energy’s SaaS energy efficiency platform which represents the next generation of building energy analytics, algorithms, and control that makes it easier to save energy and maintenance costs, save time, and create more comfortable, valuable buildings. All of Agilewaves’ customers will eventually be migrated to a comprehensive consolidated platform.

“We are developing and deploying the most innovative solutions in the industry that make building operations and efficiency better, cheaper, and faster,” says Kevin Surace, CEO of Serious Energy, Inc. “We are excited to integrate the customers, team, and world-class partners and technologies of Agilewaves into our comprehensive building upgrade solutions for our collective customer base.”

“We look forward to being part of Serious Energy and continuing to solve one of the largest and most complex problems facing businesses today: dramatically and efficiently reducing energy consumption, improving comfort, and increasing the value of buildings,” said Agilewaves CEO Peter Sharer. “Serious Energy has one of the most experienced and expert building energy and science teams in the world, as well as long-term relationships across the building and real estate markets. We are excited to join the team that is best equipped to upgrade our buildings and better serve both the people in them and the teams that operate them.”

Since its founding in 2002, Serious Energy’s suite of solutions – including advanced energy software services and building materials – have improved over 70,000 buildings and homes. In 2010, Serious Energy upgraded all 6,514 dual pane windows in the Empire State Building with its super-insulating SeriousGlass technology, a key element in reducing the overall energy cost in the iconic structure by 38 percent. The New York Stock Exchange recently called on Serious Energy to reduce energy use while improving year-round comfort in its 104-year-old historical landmark offices. Serious Energy recently announced an innovative building upgrade service at zero upfront cost that cuts energy and maintenance costs and creates more comfortable and efficient properties for building owners and tenants.

Buildings remain the 800 pound gorilla when it comes to the energy market. According to the Department of Energy, the energy bill for buildings is $400 billion annually - approximately 40 percent of total U.S. energy consumption. Commercial real estate alone accounts for 18 percent of all of the energy consumed in the U.S., more than cars and light trucks combined (16.5 percent). Experts generally agree that at least 30 percent of energy used by buildings is wasted or consumed inefficiently.

Efficient buildings also rent for higher rates and sell for higher multiples than standard buildings, according to several studies. Building owners and tenants, however, have not tackled the problem to date because of the challenges and expenses involved in identifying inefficiencies, paying for retrofit upgrades, and managing their real estate holdings in ways that cut costs, and improve building asset value, on an ongoing basis.

About Serious Energy, Inc.

Serious Energy’s solutions increase the value of buildings for both owners and occupants in ways that are better, cheaper, and easier. SeriousCapital is a building upgrade program at zero upfront cost that cuts energy and maintenance costs and creates more comfortable and efficient properties. SeriousEnergy Manager is a cloud-based enterprise software system that monitors, optimizes, and controls building energy use using advanced algorithm technology. SeriousWindows and iWindow significantly improve building envelope energy performance, improving comfort and reducing heating and cooling. QuietRock delivers improved comfort through reduced-material patented soundproofing technology, enabling buildings to increase density and help improve productivity. With an advanced software development team, six manufacturing plants and a broad network of distributors throughout the U.S. and Canada, Serious Energy products have been installed in over 70,000 projects worldwide, including the Empire State Building. For more information, visit www.SeriousEnergy.com.

About Agilewaves Inc.

Agilewaves is a building energy management system firm based in Menlo Park, CA. The firm’s Building Optimization System ™ is a turnkey energy monitoring and resource management system that provides facility managers and building owners with real-time, actionable information to effectively optimize building performance. The BOS(tm) system solution provides the rigorous metrics needed to increase energy efficiency, reduce energy costs and meet the persistent monitoring requirements for commissioning projects (RCx, EBCx, MBCx), LEED and Net-Zero Energy Building (NZEB) projects.

Contacts

Serious Energy, Inc.
Valerie Jenkins, 408-636-6329
vjenkins@seriousenergy.com

Release Summary

Serious Energy acquires Agilewaves. The Building Optimization System created by Agilewaves will be integrated with those of Serious Energy’s SaaS energy efficiency platform.

Contacts

Serious Energy, Inc.
Valerie Jenkins, 408-636-6329
vjenkins@seriousenergy.com