Livingston energy tech company reports growth, funding effort

By Eric Strauss
Livingston | Jun 7, 2018 at 11:24 am

Energy Technology Savings, a Livingston-based energy tech services provider, announced it is raising $3 million in venture funding as its SmartKit AI building operations software suite is picking up customers.

ETS said this week it has raised $1.8 million from existing investors and is now seeking new strategic partners to complete the funding round over the next six months.

The company has doubled its SmartKit AI contracts over the past year, it said, bringing the platform to 186 buildings in the Northeast and on the West Coast. Financing will help it both develop software and expand geographically, including a West Coast focus.

“We believe that making buildings smarter is a logical way to go about reducing operations costs,” CEO Jeff Hendler said in a prepared statement. “Our company’s rapid growth and the expanding user base of SmartKit AI are indicators that the market agrees.”

ETS’ clients include Roseland Residential Trust, AvalonBay Communities and others.

Eric Strauss | estrauss@roi-nj.com | acerimrat