Beringea Invests $1.6M in Energy Reduction Specialists SenseLogix
Beringea, a Farmington Hills-based international private equity firm, has invested in SenseLogix, a United Kingdom-based energy reduction specialist. The $1.6 million Series A investment will come from Beringea's London office and is intended to accelerate company growth and support new technology developments.
SenseLogix provides real-time energy reduction systems designed to deliver energy savings, lower carbon emissions, and increase operational efficiency in businesses and public sector organizations. From scalable metering platforms to PC power management and integrated control products to Web based reporting tools, SenseLogix is an innovative provider of leading edge, low carbon technologies that solve a number of the issues relating to energy, its consumption, and how its use is communicated.
Stuart Veale, managing partner, Beringea, will join the SenseLogix board of directors.
Said Veale: "SenseLogix has developed a pioneering retrofit technology to manage energy use from ICT and appliances in existing buildings and a business model that can deliver the solution to end users in a commercially viable manner. Reducing energy in the existing built environment is an important focus area for organisations needing to lower carbon emissions in what is a growing sector, clean technology -- making SenseLogix an attractive investment opportunity."
Beringea is an international private equity and investment banking firm with offices in Farmington Hills, London and Shanghai. Beringea's funds invest in a range of small- to medium-sized companies with the potential for high growth and strong returns for investors. Beringea is the manager of funds, including the InvestMichigan! Growth Capital Fund, InvestCare Partners, Global Rights Fund II and the ProVen family of venture capital trusts.
For more information, visit www.beringea.com.
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