Cleantech Venture Ener.co Completes Development Year With $1.2 Million in Financing

NEW YORK, June 14, 2011 /PRNewswire/ --

Investment supports development and commercialization of Ener.co's clean energy technology innovations and produces a breakthrough in HVAC&R energy efficiency using nanotechnology.

Ener.co, a cleantech company focused on new technologies that improve building operations and energy efficiency, announced the successful completion of $1,200,000 USD in initial financing. This financing was completed with support from New York private equity firm SPK Partners and UK private investors. The announcement was made jointly by the President and CEO of Ener.co, Patrick M. Rathje, and President of SPK Partners, Gregg Lerman.

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"The support and foresight of SPK Partners and our European backers has enabled us to complete critical research, development, and testing stages for our portfolio of break-through patents pending building efficiency technologies and positioned us for commercialization at scale," said Rathje.

In the statement, Lerman added, "We are impressed with what Rathje and the Ener.co team has accomplished in their development year. Completed proof-of-concept demonstrations, patent filings, and strategic relationships formed confirm our initial beliefs in the value and growth prospects of this company."

About SPK Partners

SPK Partners is a New York-based private equity firm with a successful history of partnering with management to make both control and non-control equity investments in growth companies.

About Ener.co

Founded in 2009, Ener.co provides innovative cleantech solutions to optimize the environmental and economic performance of energy converting existing and new construction buildings. These products and services reduce the use of natural resources while providing predictable and measureable return on investment through significant energy, maintenance and operating cost reductions. Ener.co's patent pending suite of nanotechnology coil treatment coatings improve energy efficiency and provide corrosion protection of HVAC&R installations. With a typical project payback period of less than a year and a half on energy savings, Ener.co's carbon nano technology coil treatments improve HVAC&R energy efficiency, reduce maintenance costs and increase asset life. AVF, Ener.co's patent pending silica-based nano coating for glass surfaces effectively eliminates cleaning costs for windows and photovoltaic modules and produces certified power output increases in solar voltaic systems. Ener.co is headquartered in New York, NY. For more information, visit http://www.ener.co.

SOURCE Ener.co