Tracxn Research Energy Efficiency Landscape, November 2016

Energy Efficiency Report – November 2016

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2


Contents

Topic Page No.

Scope of Report 04

Entrepreneur Activity 06

Investment Trend 08

Who is Investing 16

Exit Outlook - IPO, Acquisitions 20

Sub Sector Analysis 23

Interesting Companies 35

Useful Links 44

Company List 47

Team 183


Sector Overview

Scope of report

Definition: Energy efficiency is a way of managing and restraining the growth in energy consumption and delivering moreservices for the same energy input, or the same services for less energy input. Any equipment, product or solution whose usageprovides significant energy savings above the market standards are covered under the scope of this report.Traditional companies manufacturing energy star rated products or appliances and large conglomerates like Johnson Controls,Schneider Electric, General Electric, Siemens, Honeywell, Carrier, Emerson, Philips are not covered under the scope. Fleetmanagement companies which enable fuel efficiency by route optimization are also not included.

The scope of this report includes equity as well as debt funding received by the companies.

Business Model Description

ProductsAny appliance, equipment or product which is consuming less energy when compared to market standards are covered underenergy efficient products. These are self efficient hardware products and generally doesn’t require human intervention toreduce energy consumption.

Energy Management

Systems (EMS)

Energy management systems are combination of software and hardware to monitor, control and measure the energyconsuming devices like HVAC, lighting, refrigeration etc. The major differentiation between EMS and Data Analyticscompanies are the deployment of hardware products. EMS installs hardware at each energy consuming device, DataAnalytics companies procure data from a single source.

Data AnalyticsCompanies which run analytics engine on given data for increasing energy efficiency. Notable difference b/w Analytics andEMS companies are the deployment of hardware. EMS install hardware everywhere for capturing data while Analyticscompanies procure data from a single point of source.


Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

5


69

61

82 82

92

80

13

0

20

40

60

80

100

2010 2011 2012 2013 2014 2015 2016

Nu

mb

er o

f C

om

pan

ies

6

YoY – Number of companies founded

Nest Tado Thermondo Finally Light Bulbs Astro Linkbee Evergen

Sensity Systems FirstFuel LIFX Building Robotics Ceravision Ario Zencube


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

7


YoY – Number of Rounds and Total Funding

Note: The funding includes debt and post IPO rounds also.

$510M

$385M

$842M$826M

$986M

$701M

$993M

$785M

$470M58

73

106

118 119

144150

141

111

0

32

64

96

128

160

0

240

480

720

960

1200

2008 2009 2010 2011 2012 2013 2014 2015 2016

Nu

mb

er of R

ou

nd

sFu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Funding Amount Number of Rounds


YoY – Number of Rounds by Stage

25 24

5042 45

28

55 52

5460 52

45

1620

21 21

14

18

0

28

56

84

112

140

2011 2012 2013 2014 2015 2016

Nu

mb

er o

f R

ou

nd

s

Seed Early Late


YoY – Funding by Stage

$15M $6M $21M $22M $27M $21M

$294M$342M $301M

$244M$267M

$122M

$433M

$254M$280M

$347M$258M

$214M

0

160

320

480

640

800

2011 2012 2013 2014 2015 2016

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Seed Early Late


Average Ticket Size – Early Stage

$0.7M $0.4M $0.5M $0.7M $0.9M $1.2M

$3.5M$3.1M

$6.4M

$3.0M

$5.0M

$2.9M

$13.0M$13.5M

$7.2M

$10.3M

$12.6M

$6.0M

0.0

3.2

6.4

9.6

12.8

16.0

2011 2012 2013 2014 2015 2016

Fun

din

g A

mo

un

t (i

n M

illio

ns)

Seed Series A Series B


Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

renovateamerica.comRenovate America(San Diego, 1999)

$90M PE Oct-2015Draper Fisher Jurvetson, Silver Lake, RockPort Capital, Valor Equity Partners, 400 Capital Management

viewglass.comView Dynamic Glass

(Milpitas, 2007)$44M Debt Apr-2016

Khosla Ventures, Eastward Capital Partners, Sigma Partners, GE Capital Canada, Double Bottom Line Investors, Westly Group, GE Energy Financial Services, NanoDimensionManagement, Corning, Navitas Capital, New Zealand Super Fund, DBL Partners

ecobee.comEcobee

(Toronto, 2007)$35M Series C Aug-2016 Relay Ventures, Amazon, Thomvest Ventures

netatmo.comNetatmo

(Paris, 2011)$32M Series B Nov-2015 Legrand, Iris Capital, Bpifrance

phononic.comPhononic

(Durham, 2008)$30M Series D Sep-2016

GGV Capital, Lookout Capital, Eastward Capital Partners, Venrock, Oak Investment Partners, Tsing Capital, Wellcome Trust, UNC REX Healthcare, Invesco

thermondo.deThermondo

(Berlin, 2012)$26M Series C May-2016 Holtzbrinck Ventures, E.on, IBB, Global Founders Capital

enlightedinc.comEnlighted

(Sunnyvale, 2009)$25M Series D Feb-2016 KPCB, RockPort Capital, Draper Fisher Jurvetson, Tao Capital Partners

tado.comTado

(Munich, 2011)$23M Series C Apr-2016 Inven Capital


Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

enlightedinc.comEnlighted

(Sunnyvale, 2009)$20M Debt Feb-2016 Square 1 Bank

telensa.com

Telensa(Great Chesterford,

2007)$18M PE Jan-2016 ETF Partners, Silicon Valley Bank

tado.comTado

(Munich, 2011)$17M Series B Oct-2015 Target Partners, Shortcut, BayBG, Siemens, homeserveplc.com, Statkraft Ventures

bidgely.comBidgely

(Sunnyvale, 2010)$17M Series B Nov-2015 Constellation Technology Ventures, E.on, RWE Global, Khosla Ventures

sense.comSense

(Cambridge, 2013)$14M Series A Sep-2016

Shell Global, Energy Impact Partners, Capricorn, Prelude Ventures, Bolt, Charles River Ventures

ecorithm.comEcorithm

(Goleta, 2010)$14M Series A May-2016

entic.comEntic

(Pembroke Pines, 2011)$13M Series A Dec-2015


Funnel view of Sector

Percent of Previous

56%

53%

41%

124

69

128

310

580

1040

0 200 400 600 800 1000 1200

M&A & IPO

Late

Series B

Series A

Funded

Founded

Number of Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

15


Most Active Investors in Sector

22

15 15 15 1514

13 13 1312

0

5

10

15

20

25

RockPortCapital

ClaremontCreek Ventures

NEA NavitasCapital

VantagePointCapital Partners

Department ofEnergy (US)

BatteryVentures

Braemar EnergyVentures

Draper FisherJurvetson

Nth Power

Tota

l Nu

mb

er o

f R

ou

nd

s

Renovate America ProjectFrog GridPoint View Dynamic Glass Bridgelux SageGlass Luminus Devices Luminus Devices Renovate America SynapSense

Aspen Aerogel Adura Technologies Serious Energy Serious Energy Serious Energy Redwood Systems FirstFuel Next Step Living Luminus Devices FirstFuel


Where are Top Investors investing


Top Investor by Stage of Entry


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

19


Top IPOs in last three years

IPO Date Company OverviewFunding Amount

Exch:Ticker

Apr-2016 plejd.sePlejd

(Gothenburg, 2009)

Smart lighting control systems for homesAlmi AKT:PLEJD

Dec-2015 buildingiq.comBuildingIQ

(Foster City, 2009)

Building Energy IntelligenceSiemens Venture Capital, Paladin Capital Group, Aster Capital, Capital E, Exto Partners, One Ventures

$11.7M ASX:BIQ

Jun-2015 alarm.comAlarm

(Washington D.C., 2000)

Wireless security and energy management systemsTCV, Egis Captial Partners, ABS Capital Partners $165M NASDAQ:ALRM

Aug-2014 asetek.comAsetek

(Aalborg, 2000)

Energy efficient cooling systemsNorthzone, The D E Shaw Group, Sunstone, Vaekstfonden, KT Venture $34M OTCMKTS:ASKTF

Jul-2014 lucibel.comLucibel

(Rueil-Malmaison, 2008)

LED solutions manufacturerBpifrance, Aster Capital, CM-CIC Investissement $36.75M EPA:ALUCI

Jun-2014 aerogel.comAspen Aerogel

(Northborough, 2001)

Thermal insulation solutionsTenaya Capital, Lehman Brothers, RockPort Capital, Arcapita, Reservoir Capital, ATEL Capital Group, GE Capital, BASF Venture Capital, ARPA-E

$120.5M NYSE: ASPN

Apr-2014 lumenpulse.comLumenpulse

(Montreal, 2006)

Architectural LED lighting manufacturerSilicon Valley Bank $21M TSE:LMP

Mar-2014 opower.comOpower

(Arlington, 2007)

Customer engagement platform, Demand response management and Home energy managementAccel Partners, NEA, Founder Collective, KPCB, MHS Capital, Wing Venture Capital, Akkadian Ventures

$65.5M NYSE:OPWR


Major Acquisitions in last one year


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

22


October 2016Tracxn BlueBox : Energy Efficiency

1040 companies in the sector, 580 funded, $1.26B invested in 2015-16 (YTD)


Top Business Models by Funding

$3.7B

$2.2B

$267M $174M $95M

0

800

1600

2400

3200

4000

Products Energy Management Systems Data Analytics Project Financing ESCO

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

# Cos. 408 477 84 9 51

Avg. Age Jun-02 Jan-03 Nov-10 Aug-07 Jan-10

Lighting Science Group GridPoint Opower Renovate America Next Step Living

View Dynamic Glass Alarm FirstFuel ReEnergise Groom Energy


Products – Business Model Description


Products – Entrepreneur Activity and Investment Trend


Products – Most Funded Companies


Energy Management Systems – Business Model Description


Energy Management Systems – Entrepreneur Activity and Investment Trend


Energy Management Systems – Most Funded Companies


Data Analytics – Business Model Description


Data Analytics – Entrepreneur Activity and Investment Trend


Data Analytics – Most Funded Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

34


Interesting Unfunded Companies

Company OverviewBusiness Model

75f.io75fahrenheit

(2012, Mankato)

Technology solutions for energy conservation and resolve temperature imbalence

Energy Management Systems > HVAC Management

envirocom.inEnvirocom

(2010, Delhi)Fuel consumption monitor tool

Energy Management Systems > Power Management Systems > Fuel Monitoring

noriahome.comNoria

(2016, Philadelphia)Connected AC for home

Products > Thermal Energy > HVACR > Smart AC's

enermark.comEnerMark

(2014, Bangalore)Energy analysis platform

Energy Management Systems > Off-Grid Energy Management Systems

chipmonk.inChipmonk

(2010, Bangalore)Embedded product company providing energy monitoring solutions Energy Management Systems > IEMS

smartbuildings.inSmartBuildings

(2012, Bangalore)

Sensor technology for energy conservation, management and monitoring in buildings

Energy Management Systems > BEMS

belleds.comBelleds

(2014, San Francisco)Smart LED lightning product

Products > Lighting > LED > Finished Products > Smart Lights

Curated list of companies by the sector analyst are defined as Interesting


Interesting Seed Companies


Interesting Series A Companies


Interesting Series A Companies


Interesting Series B Companies


Interesting Late Stage Companies


Interesting Late Stage Companies


Top Funded Deadpooled Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

43


Useful Links

Slide Title Content Platform Link

List of All Companies in readable format Companies Link

Upcoming Sectors Entrepreneur Activity Link

Top investments in last one year Investment Trend Link

Top IPOs in the sector Exit Outlook - IPO, Acquisitions Link

Major Acquisitions in the sector Exit Outlook - IPO, Acquisitions Link

Products – Most Funded Companies Sub Sector Understand Link

EMS – Most Funded companies Sub Sector Understand Link

Data Analytics – Most Funded Companies Sub Sector Understand Link

Top Funded Deadpooled Companies Companies Link

http://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584

http://tracxn.com/theme/upcoming/56443228e4b0b0cde1a2e584

http://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DipoDate%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CfundedDate%5Emin%3D01%2F01%2F2015%5Emax%3D06%2F07%2F2016

http://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DipoDate%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CcompanyStage%3DPublic

http://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DacquisitionDate%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CacquiredBy%3Dt_all

http://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CbusinessModel%3D5694e326e4b0e473975be1fe%3AProducts

https://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CbusinessModel%3D56692714e4b0ccc692309cc1%3AEnergy%20Management%20Systems

https://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CbusinessModel%3D57dbebc2e4b0501efa4e3ccc%3AData%20Analytics

https://tracxn.com/theme/compactview/56443228e4b0b0cde1a2e584#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DEnergy%20Efficiency%7CcompanyStage%3DDeadpooled

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Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

46


Energy Efficiency – Company List

Products Energy

Management Systems Data Analytics Project Financing ESCO Online Retailers

580 FUNDED COMPANIES AND 460 UNFUNDED COMPANIES

COVERS THE FOLLOWING SECTORS


Products (1/52)Company Overview Business Model Total Funding

Integrity Block(2007, Los Altos)

Sustainable green materials for increasing energy efficiencyWestern Technology Investment, Navitas Capital Construction > Materials $2.7M

Kite Bricks(2013, Tel Aviv)

Smart brick with energy savingsConstruction > Materials

View Dynamic Glass(2007, Milpitas)

Smart window glass for buildingsKhosla Ventures, Eastward Capital Partners, Sigma Partners, GE Capital Canada, Double Bottom Line Investors, Westly Group, GE Energy Financial Services, NanoDimension Management, Corning, Navitas Capital, New Zealand Super Fund, DBL Partners

Construction > Pre-Fabricated > Glass

$436M

SageGlass(1989, Faribault)

Dynamic Window GlassDepartment of Energy (US), Bekaert, Saint Gobain, Applied Materials, Good Energies


$116M

Chromogenics(2003, Uppsala)

Dynamic glass to save energy and increase comfortSwedish Energy Agency, Almi, Volvo Group, DuPont, Industrifonden


$16M

Southwall Technologies(1979, Palo Alto)

Energy saving films and glass productsDepartment of Energy (US), Needham Capital Partners


$4.5M

Nexus Energy Homes(2009, Stevensville)

Zero net energy homesConstruction > Pre-Fabricated > Net Zero Homes

$700k

Go to BM List >>

Energy

Management

Systems



Energiesprong UK(2015, Milton Keynes)

Net zero homes refurbishmentsEU Interreg NWE programme

Construction > Pre-Fabricated > Net Zero Homes

ZeroEnergy Design(2006, Sawbridgeworth)

Green energy design and consulting firmConstruction > Pre-Fabricated > Net Zero Homes

Acre Designs(2014, Kansas)

Zero-net energy home kitsY Combinator

Construction > Pre-Fabricated > Net Zero Homes

EnergySmart Building Method(2016, Marquette)

Patented energy efficient construction in homesConstruction > Pre-Fabricated > Net Zero Homes

ProjectFrog(2006, San Francisco)

Energy efficient buildingsComerica, Claremont Creek Ventures, RockPort Capital, McNally Capital, Trinity Capital Investment, Claremont Creek Ventures

Construction > Pre-Fabricated > Others

$55.48M

Flexenclosure(1989, Stockholm)

Prefabricated energy efficient data centre buildingsIFC, Andra AP-fonden, Vinnova, Industrifonden


$34.58M

GLOG home(2013, Tartu)

Do it yourself energy efficient building kitsConstruction > Pre-Fabricated > Others

$30k

SmartCube(2009, Rio de Janeiro)

Prefabricated modular data centersAccelerator Tech


Go to BM List >>

Energy

Management

Systems



ThermaCool(2009, London)

Thermal cooling and heating ceiling productsConstruction > Pre-Fabricated > Others

Wallabe(2010, San Francisco)

Prefabricated smart wallConstruction > Pre-Fabricated > Others

DSK Grad(2014, Naro-Fominsk)

Prefabricated energy efficient constructionsRusnano


HercuTech(2008, Tempe)

Alternative solution for wooden and concrete wall structuresSerra Ventures


Serious Energy(2002, Sunnyvale)

Energy efficient buildingsNEA, EnerTech Capital, Foundation Capital, Rustic Canyon Partners, VantagePoint Capital Partners, Saints Capital, Cheyenne Capital, Staenberg Venture Partners, Mesirow Financial, Navitas Capital, Juvo Capital, Navitas Capital

Construction > Pre-Fabricated > Windows

$135M

RavenBrick(2006, Denver)

Develops and manufactures smart windows which automatically changes to tinted stateAravaipa Ventures


$16.34M

Cascadia Windows(2008, Langley)

Energy efficient windows and doorsRenewal Funds


$5M

Go to BM List >>

Energy

Management

Systems


Products (4/52)

Go to BM List >>

Energy

Management

Systems


Products (5/52)

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Energy

Management

Systems


Products (6/52)

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Energy

Management

Systems


Products (7/52)

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Energy

Management

Systems


Products (8/52)

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Energy

Management

Systems


Products (9/52)

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Energy

Management

Systems


Products (10/52)

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Energy

Management

Systems


Products (11/52)

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Energy

Management

Systems


Products (12/52)

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Energy

Management

Systems


Products (13/52)

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Energy

Management

Systems


Products (14/52)

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Energy

Management

Systems


Products (15/52)

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Energy

Management

Systems


Products (16/52)

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Energy

Management

Systems


Products (17/52)

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Energy

Management

Systems


Products (18/52)

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Energy

Management

Systems


Products (19/52)

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Energy

Management

Systems


Products (20/52)

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Energy

Management

Systems


Products (21/52)

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Energy

Management

Systems


Products (22/52)

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Energy

Management

Systems


Products (23/52)

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Energy

Management

Systems


Products (24/52)

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Energy

Management

Systems


Products (25/52)

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Energy

Management

Systems


Products (26/52)

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Energy

Management

Systems


Products (27/52)

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Energy

Management

Systems


Products (28/52)

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Energy

Management

Systems


Products (29/52)

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Energy

Management

Systems


Products (30/52)

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Energy

Management

Systems


Products (31/52)

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Energy

Management

Systems


Products (32/52)

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Energy

Management

Systems


Products (33/52)

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Energy

Management

Systems


Products (34/52)

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Energy

Management

Systems


Products (35/52)

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Energy

Management

Systems


Products (36/52)

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Energy

Management

Systems


Products (37/52)

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Energy

Management

Systems


Products (38/52)

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Energy

Management

Systems


Products (39/52)

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Energy

Management

Systems


Products (40/52)

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Energy

Management

Systems


Products (41/52)

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Energy

Management

Systems


Products (42/52)

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Energy

Management

Systems


Products (43/52)

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Energy

Management

Systems


Products (44/52)

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Energy

Management

Systems


Products (45/52)

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Energy

Management

Systems


Products (46/52)

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Energy

Management

Systems


Products (47/52)

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Energy

Management

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Products (48/52)

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Energy

Management

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Products (49/52)

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Energy

Management

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Products (50/52)

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Energy

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Products (51/52)

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Energy

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Products (52/52)

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Energy

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Systems


Energy Management Systems (1/61)

Products << Go to BM List >> Data Analytics






















































































































































































Data Analytics (1/11)

Energy

Management

Systems

<< Go to BM List >> Project Financing



Energy

Management

Systems




Energy

Management

Systems




Energy

Management

Systems




Energy

Management

Systems




Energy

Management

Systems




Energy

Management

Systems




Energy

Management

Systems




Energy

Management

Systems




Energy

Management

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Energy

Management

Systems



Project Financing (1/2)

Data Analytics << Go to BM List >> ESCO


Project Financing (2/2)

Data Analytics << Go to BM List >> ESCO


ESCO (1/7)

Project

Financing<< Go to BM List >> Online Retailers


ESCO (2/7)

Project



ESCO (3/7)

Project



ESCO (4/7)

Project



ESCO (5/7)

Project



ESCO (6/7)

Project



ESCO (7/7)

Project



Online Retailers

ESCO << Go to BM List


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

182


Team

Sai Krishna

Senior Analyst, Energy

Abhyudai Gupta

Lead Analyst, Energy

https://in.linkedin.com/in/sai-krishna-lakkavajjala-525899b0

https://twitter.com/lskspeaks

https://in.linkedin.com/in/abhyudai-gupta-66451814

https://twitter.com/abhyudaigupta

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Date post:	08-Jan-2017
Category:	Data & Analytics
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Tracxn Research Energy Efficiency Landscape, November 2016

Data & Analytics