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Power Assure Named 2011 Cleantech Open Alumni of the YearAward Recognizes Significant Progress Made During the Year by a Top Clean Technology Innovator (November 18, 2011)
SANTA CLARA, CA -- (Marketwire) -- 11/18/11 -- Power Assure®, Inc., a data center and energy management solutions provider, today announced it has been selected as a 2011 Cleantech Open Alumni of the Year by the Cleantech Open, the world's largest cleantech accelerator. The award further validates Power Assure's success at developing and delivering innovative solutions that provide enterprises, government agencies and service providers with a single source for all of their data center power management needs.
Each year, the 2011 Alumni Award recognizes Cleantech Open alumni companies that achieved significant momentum during the year. To determine the winners, several factors are assessed, including capital investment raised, jobs created, and technical achievement. This year, the Alumni Award was awarded to two companies, including Power Assure, which this year raised $13.5M in Series B financing and has created 43 jobs.
"We are honored to be the recipient of the prestigious Cleantech Open Alumni of the Year award," said Brad Wurtz, president and CEO, Power Assure. "We've come a long way since we won our first Cleantech Open awards in 2008 -- one in the Smart Power category and one in the Sustainability category. It's a testament not only to the hard work of the Power Assure team, but of the growing need among data center managers to find a platform that will manage all of their power issues. Power is becoming a critical issue for most data center managers. Whether it's not having enough power to meet growing customer demand, or managing the increasing risk of an unstable power grid, or dealing with higher power costs, Power Assure gives managers the tools they need to improve both the efficiency and reliability of their data centers while dramatically cutting their power costs."
"Congratulations to the 2011 winners and finalists, which represent the best in early-stage cleantech innovation and viable solutions to some of the world's toughest challenges," said Rex Northen, executive director of the Cleantech Open.
2011 was another year of tremendous growth for the Cleantech Open, which now operates in six regions across the United States. Since the inception of the Cleantech Open six years ago, 593 companies have completed the non-profit organization's entrepreneurship programs in the United States alone. Collectively, these companies have so far raised more than $500 million in funding.
This industry recognition follows other significant accolades Power Assure has received during the past year. Power Assure was recognized as a Gartner Cool Vendor in DCIM tools, a Red Herring North America Top 100 company, a Data Center Change and Innovation award winner, a GigaOm Structure 50 company and an AlwaysOn GoingGreen Global 200 company. Power Assure was also chosen by NASA to manage power at all 75 of their data centers. In cooperation with Underwriter Laboratories (UL), Power Assure announced a new UL standard for measuring the efficiency servers and other data center equipment, UL2640, based on Power Assure's PAR4 measurement technology. Power Assure recently closed a $13.5M B Round of financing, led by ABB Technology Ventures and with the participation of DFJ, Good Energies, and Point Judith Capital.
About The Cleantech Open
The Cleantech Open runs the world's largest cleantech accelerator. Its mission is to find, fund and foster entrepreneurs with big ideas that address today's most urgent energy, environmental and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships that turn clever ideas into successful global cleantech companies. Since 2006, through its one-of-a-kind annual business competition and mentorship program, the Cleantech Open has enabled 593 clean-technology startups to bring their breakthrough ideas to fruition, helped alumni contestants raise over $500M in external capital, and created thousands of green-collar jobs. Fueled by a global network of more than 1,000 volunteers and sponsors, the Cleantech Open unites the public and private sectors in a shared vision for making America's and the world's cleantech sectors a thriving economic engine. For more information, visit www.cleantechopen.org, or follow us on Twitter and Facebook.
About Power Assure (www.powerassure.com)
Power Assure is a leading developer of Data Center Infrastructure and Energy Management software for large enterprises, government agencies, and managed service providers. Power Assure's solutions provide visibility, intelligence, analytics and automation to help CIOs, IT directors, and facilities managers optimize capacity, service levels, and power consumption within and across data centers. Headquartered in Santa Clara, CA, the company is privately held with funding from ABB Technology Ventures, Draper Fisher Jurvetson, Good Energies, Point Judith Capital, and a grant from the Department of Energy. Power Assure partners include ABB, Cisco, Dell, IBM, Intel, In-Q-Tel, Raritan, UL and VMware.
Power Assure is a registered trademark of Power Assure, Inc. All product names and references remain the trademarks or registered trademarks of their respective owners.
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