Tuesday, May 03, 2005

Prenova and Hot/Shot announce raises

Brief post here to note a couple of deals announced today of potential interest to cleantech investors:
  • Prenova, an energy management solutions provider, raised what looks to be approx. $2M in an inside round from existing investors Frontenac, River Cities Capital Funds, and Austin Ventures. The company helps customers monitor and manage energy use and pricing, as well as energy asset operations. The total invested to date in the company now totals more than $17.5M.
  • Hot/Shot Radar Inspections raised an undisclosed amount from undisclosed investors. Hot/Shot has a radar-based system ("polSAR") which can be used to inspect powerline poles to better estimate when repairs are needed, and thus reduces over-replacement of such poles -- there are something like 167M utility poles in place throughout the U.S., according to some estimates, so extending their lives and reducing replacement can actually add up to a big deal. [Unfortunately, as of time of writing this post the company's website appears to be down. Will update with a link when available.]


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