New Business Obtains Capital To Grow Offsite Energy Efficiency Analysis

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FirstFuel Software is a new corporation founded in 2010 and the startup has recently raised its first venture capital round. The $2,400,000 of funding is aimed at marketing the new company’s analytics software that tracks energy usage in commercial buildings.

FirstFuel Software permits tracing of energy use in a building without requiring the installation of energy-tracking devices. Energy usage information is monitored from utility providers and combined with weather data to create a profile for any building on the power grid. Based in Waltham, Massachusetts, the company licenses its software to utility companies rather than provide consulting services directly to building owners.

By learning how a building uses energy, FirstFuel software generates efficiency recommendations. For example, the software can quantify energy improvement from retrofitting a commercial building with better windows or insulation to reduce air conditioning use. FirstFuel Software provides deep analytics about energy consumption from lightening, heating, cooling, plug loads, and data processing.

The software is distinguished by its combination of variable energy usage with frequently changing weather conditions, such as the temperature near a building. In addition, most energy-tracking systems require smart thermostats and plugs. But FirstFuel Software conducts an efficiency analysis remotely over the Internet. An energy profile and consumption saving recommendations don’t entail sending technicians for on-site assessments.