Accelerator Centre

Accelerator Centre

September 10, 2009 16:48 ET

Real-Time Energy Informatics Start-Up Energent Graduates from Waterloo's Accelerator Centre

WATERLOO, ONTARIO--(Marketwire - Sept. 10, 2009) - The Accelerator Centre, an award-winning and world-renowned centre for the cultivation of technology entrepreneurship, is pleased to announce the successful graduation of Energent, a real-time energy informatics start-up, from its business acceleration facilities.

Energent is the third start-up to graduate from the Accelerator Centre since the Centre opened its doors in April 2006, and follows in the footsteps of other successful Accelerator Centre graduates, Primal Fusion and Miovision, who continue to prosper in the commercial marketplace.

Energent was launched in 2007 by COO, Norm Malloch and CTO/CFO, Gord Ellis to help organizations use technology to track, measure and alter energy consumption. The firm's Internet-based technology platform automates the collection, analysis and reporting of a client's day-to-day energy information helping businesses cut their energy bills and associated carbon emissions. By using Energent's system, the company's largest customer to date, General Motors of Canada has been able to slash fuel consumption by 6.2 percent a year and cut greenhouse gas emissions by 2.6 percent.

The company has now embarked on a joint three-year project with the University of Waterloo, sponsored by Ontario Centres of Excellence (OCE) through their "Transformative Energy Innovations" initiative, with additional support from Ontario Power Authority (OPA), Hydro One and Milton Hydro Distribution Inc. The project, entitled "The Energy Hub Management System", will leverage emerging smart-grid technologies to empower all sectors of energy consumers to optimally control and manage their energy consumption, storage and production, collectively.

Energent joined the Accelerator Centre in May 2006, occupying 892 square feet of space within the Centre's expansive facility and taking full advantage of the educational services, funding, and business expertise offered by the Centre and its network of mentors.

"The Accelerator Centre has been a tremendous launch pad for our business", says Norm Malloch, Energent founder and COO. "It provided us with direct access to commercialization and business planning, as well as sales and marketing expertise, in addition to University of Waterloo research, Ontario Centres of Excellence and IRAP programs. Our team has loved the Accelerator Centre experience and its excellent full-service facilities. It has most certainly helped us mature, and become successful more quickly."

"Energent is on the leading edge of the curve in the energy marketplace, using technology to drive dramatic reduction in energy consumption and carbon emissions across commercial, industrial and residential marketplaces. With a strong management team, financial and customer momentum, they are poised for success post-graduation. Energent is a tremendous example of what can be achieved at the Accelerator Centre, where tomorrow's technology leaders are groomed and readied for market," says Tom Corr, CEO, Accelerator Centre.

About the Accelerator Centre

The Accelerator Centre (AC) is a world-renowned, award-winning centre for the cultivation of technology entrepreneurship located in Waterloo, Ontario. Made possible through funding from Federal and Provincial Governments, Ontario Centres of Excellence, the Regional Municipality of Waterloo, the City of Waterloo and the University of Waterloo, along with industry and academic partners, the AC was established to accelerate the creation, growth, and maturation of sustainable new technology companies; to promote commercialization of research and technology rising out of academic institutions such as University of Waterloo, Wilfrid Laurier University, University of Guelph, and Conestoga College; and to demonstrate the economic benefit and strategic importance of Waterloo Region within Ontario and Canada's broader economy.

Aptly named, the Accelerator Centre is firmly focused on accelerating the growth and success of its client companies - fledgling start ups from a variety of technology sectors. The Centre's team of advisors and mentors provide a unique range of support services and education programs, enabling AC clients to move to market faster, create jobs and stimulate economic activity. As home to 20+ technology start up companies, as well as resident National Research Council's IRAP, and Ontario Centres of Excellence - the Accelerator Centre has become the place to be to become immersed in Waterloo's innovation community.

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