Noesis Energy Raises $6.5 Million, Acquires Managing Energy Inc.

Posted in Uncategorized on November 1st, 2011 by News Desk –

Austin — Noesis Energy, a newly formed company, on Tuesday announced its formation and that it has raised $6.5 million and acquired Managing Energy Inc. (MEI), a provider of energy management and analytics software that will serve as the foundation for Noesis Energy’s business.

Founded in 1994, MEI has developed a web-based energy management technology. The company is based in Ontario, Canada and has more than 6,000 buildings, 13,000 meters and 290 million square feet under management.

Noesis Energy said it will use the investment from Austin Ventures to pursue ongoing development, merger and acquisition opportunities in the energy management space including energy spend management/accounting, energy efficiency/optimization and energy management services.

Scott Harmon, CEO of Noesis, previously served as CEO of AlterPoint, a venture capital-backed business software firm that was acquired by Versata in 2009. Prior to that, he co-founded Motive Communications, which eventually went public under his leadership.

Noesis Energy website

Austin Ventures website