AMEE lands funding – Green is the new black!

Photo credit nickwheeleroz

I just received news that AMEE has landed funding. We have mentioned AMEE already a ton of times on GreenMonk, but that is because they share our open-source philosophy and they are Green. In fact, AMEE CEO Gavin Starks is the one who came up with the MegaTom concept!

From the press release:

AMEE, the World’s Energy Meter, has secured substantial Series A financing from leading VC funds in the USA and UK.

AMEE is a web-based service (API) that combines measurement, calculation, profiling and transactional systems, representing emissions data from 150 countries and regions. As a neutral data aggregation platform, AMEE’s vision is to enable the measurement of the “Carbon Footprint” of everything on Earth. AMEE aims to assist with the development of energy and carbon as a global currency, assisting governments and companies that need to account for and trade internationally in CO2 emissions.

The collaboration between O’Reilly Alphatech Ventures (OATV), Union Square Ventures (USV) and The Accelerator Group (TAG) will enable AMEE to expand its reach by enhancing its data, and extend globally.

The AMEE platform is already used internationally by many organisations including; UK Government (Defra/DECC), Morgan Stanley, Google, Radiohead, Nesta, the Irish Government, the Welsh Assembly, the Energy Saving Trust, BRE, Sun Microsystems, plus numerous other IT, business services and software companies.

Gavin Starks, Founder and CEO of AMEE commented, “AMEE’s growth over the past 12 months has been quite remarkable. We are delighted to have the financial and strategic support of such experienced investors to take our business forward.

AMEE’s is driving change by increasing the accuracy and transparency of emissions and consumption in a manner that has not been achieved by any legislation, market or service to date. We have developed and demonstrated a forward-thinking and innovative business model. It is based around neutrality, scale and collaboration. This reflects the dramatic changes that will impact our societies, their financial and social systems in the years to come.

The execution of the Climate Change Act in the UK last week, combined with President Elect Obama’s forward-looking Federal Cap & Trade statements are indicators of the scale of change approaching us.”

Bryony Worthington, Head of International Policy at AMEE added, “As one of the authors of the UK Climate Change Act, I am delighted to be bringing dedicated solutions to industry and consumers. The time to act is now.”

Mark P. Jacobsen, Managing Director of O’Reilly AlphaTech Ventures (“OATV”), commented: “AMEE’s vision to aggregate all of the energy data in the world fits OATV’s mission to invest in stuff that matters. With the recent sea change in America’s political climate, we look forward to AMEE bringing its platform-based data service to clients in the States.”

Ablert Wenger, Partner at Union Square Ventures, commented, “We believe that emissions information is critical to better decision making by individuals and companies. We are excited that AMEE’s service helps to substantially improve the timeliness and accuracy of emissions measurement.”

Great news, congrats Gavin and team. With the slew of funding announcements in the Green space, despite the trying financial times (because of…), Green is quickly becoming the new black!