Tuesday, May 5, 2009

Powerit Solutions Raises $6M For Energy Management Efforts

Seattle-based Powerit Solutions, a developer of energy management and efficiency systems for the commercial and industrial market, announced this morning that it has raised $6M in new funding. The funding came from Siemens Venture Capital and ArcelorMittal's Clean Technology Fund, as well as existing investors @Ventures and Expansion Capital Partners. Powerit Solutions' products are used for on-site energy management in factories, and also handles managing carbon emissions. The firm said the funding will be used to help the company grow into new markets, and continue product development efforts. More information »