SOURCE: Retroficiency, Inc.

Retroficiency, Inc.

March 09, 2011 07:55 ET

Retroficiency Launches With New Solution to Help Evaluate Thousands of Building Energy Efficiency Measures in Minutes

Jones Lang LaSalle & World Energy Solutions First to Roll Out Building Energy Efficiency Platform; Other Paying Customers Piloting

Company Raises $800,000 in Angel Funding to Develop Sophisticated Solution for Identifying Energy Retrofit Opportunities

BOSTON, MA--(Marketwire - March 9, 2011) - Retroficiency today announced its company launch and introduced its energy efficiency identification and qualification (EIQ) platform, which systematically analyzes the potential benefits of thousands of commercial building energy efficiency measures. Retroficiency's platform is available immediately to energy service companies (ESCOs), facility management firms, large commercial property owners, and related professionals seeking to more rapidly, cost effectively, and accurately qualify energy solutions across their portfolio of properties.

"Our challenge is to identify and qualify as many viable energy saving opportunities as quickly as possible and then prioritize them across the portfolios of buildings that we manage," said Bruce Sirota, Senior Vice President of Energy and Sustainability Services, Jones Lang LaSalle. "Retroficiency will help us be more efficient at our current process, while allowing us to be more accurate across different building types, sizes, and climate regions around the country."

Commercial building energy efficiency evaluation is currently a slow, expensive, and non standard process. Building professionals spend countless hours walking around buildings, benchmarking and researching efficiency solutions, and generating detailed reports. 

To improve this process, Retroficiency utilizes powerful SaaS-based predictive analytics leveraging tens of thousands of energy audits and a proprietary database of energy efficiency measures to evaluate thousands of opportunities in minutes. The platform can be used with minimal building data to quickly focus on the best opportunities, as well as incorporate more detailed specifics as they are collected.

"Retroficiency is innovatively employing predictive modeling for energy efficiency," said Eric Teicholz, International Facility Management Association Fellow & Chair of IFMA's Sustainability Committee. "Their platform will save considerable time and money over manual inspections and provides actionable retrofit solutions that include cost, rebate and energy benchmarking information."

Retroficiency was conceptualized by Founder and CEO Bennett Fisher, a veteran of the commercial real estate private equity industry, with the help of expert advisors while he attended the MIT Sloan School of Management. The company spent more than a year working closely with a handful of Fortune 500 and other public companies to refine the offering to ensure it met market requirements.

Retroficiency is also announcing today that it has raised $800,000 in angel funding to support product development efforts and continue to work closely with early customers. World Energy Solutions, Inc. (NASDAQ: XWES), an energy management services firm, led the round and was joined by a number of leading angel investors including Jean Hammond and Jill Preotle, both early investors in ZipCar.

About Retroficiency, Inc.
Retroficiency is the market leading energy efficiency identification and qualification (EIQ) platform that enables energy service companies (ESCOs), facility management firms, large commercial property owners and related professionals to systematically evaluate thousands of commercial building energy efficiency measures in minutes. Retroficiency delivers a complete solution addressing the needs of building engineers, facility managers, and financial decision makers. For more information, please visit www.retroficiency.com.

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