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Press Release
SCL Elements Closes $2.15 Million Series A Financing
Investment from The Westly Group and Navitas Capital to Drive Company Growth and Market Expansion
[MONTREAL, October 4, 2011] – SCL Elements, developer of the award-winning CAN2GO™ building automation solutions, today announced that it has secured $2.15 Million in Series A financing. The Westly Group led the round, with participation from Navitas Capital. The funding will allow CAN2GO to accelerate its expansion in the huge underserved market of light commercial and mid-market buildings.
According to the last CBECS survey of the U.S. Energy Information Administration, buildings of less than 100,000 square feet account for 98% of commercial buildings and 65% of the commercial floor space. But only 5% of them have an HVAC energy management system, while even fewer have a lighting energy management system.
CAN2GO is addressing this market by offering unique wired and wireless controllers, and a license-free web building management system, that improve both the energy efficiency and comfort of HVAC and lighting systems. The low-fixed cost, flexibility and fast payback of CAN2GO solutions are tailor-made for the small and medium buildings segment.
The funding provided by Navitas Capital and The Westly Group will allow SCL Elements to scale production and business development in parallel with the growing demand in this market. Gary Dillabough, of The Westly Group, will join the Board of SCL Elements.
“The majority of commercial building owners have been left out of the building automation market because older solutions aren’t cost-effective. With its wireless and IP integration capabilities, CAN2GO is offering them a tailor-made alternative to bring energy efficiency to their buildings,” said Dillabough.
“We see the potential of the CAN2GO platform to fundamentally alter the controls equation for HVAC & lighting in the ‘commercial light’ space,” said James Pettit, Managing Partner of Navitas Capital.
CAN2GO solutions are installed in retail/stores, offices, schools, universities, factories, warehouses, heritage buildings, laboratories and government buildings in North America, Europe, Asia, Oceania and the Middle East. They enable building owners and facility managers to save on their energy bills and improve occupant comfort.
“Our goal is to provide more energy savings at a lower cost for commercial buildings looking for a better payback on their investments. The support of The Westly Group and Navitas Capital will allow us to scale our activities and offer CAN2GO to more clients in more markets,” said Simon Leblond, CEO of SCL Elements.
CAN2GO solutions are non-invasive and can be stand alone or integrated with third party BACnet systems. They are IP compatible and support multiple wireless protocols, as well as the Modbus and CANbus wired protocols.
Visit www.can2go.com for more information.
About SCL Elements
SCL Elements Inc. provides CAN2GO™ building automation solutions for comfort and energy efficiency in commercial buildings. CAN2GO™ offers integrated wired and wireless solutions for HVAC, lighting & metering applications. CAN2GO controllers, gateways and web building management system (BMS) allow facility managers, contractors and OEM manufacturers to deploy building automation systems (BAS) combining wired (BACnet, Modbus, CANbus), wireless and web (IP/Ethernet) technologies – providing maximum interoperability and control for more energy savings.
About Navitas Capital
www.navitascap.com
About The Westly Group
www.westlygroup.com
Press kit with images available here.
Press Contact
David Lamarche
SCL Elements Inc. / CAN2GO™
T +1 (514) 313-8885
dlamarche@can2go.com
