AMEE secures $5.5m to go global with realtime carbon monitoring

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AMEE, the US/UK-based startup that aims to build the largest engine for computing greenhouse gas emissions, has secured a $5.5m series B financing lead by Amadeus Capital Partners alongside existing investors, including O’Reilly AlphaTech Ventures and Union Square Ventures. AMEE will use the funding to expand its geographic reach and platform.

The prize AMEE is aiming for, known in the sector as “enterprise carbon management”, is expected to reach $4 billion by 2017 because of government and consumer pressure to address climate change. AMEE’s engine is now being used by companies offering carbon accounting or business intelligence software, as well as governments, multi-nationals and SMEs.

The problem AMEE is addressing is that there are currently, multiple standards and hundreds of thousands of individual emission factors used to determine something’s carbon footprint.

So AMEE has codified the major greenhouse gas standards, their computation models, and emission factors into an engine that is available to clients via its API. This is exposed as a RESTful HTTP-based web service with XML, JSON and Atom interfaces. Customers so far include SAS and the UK Government’s Department of Energy and Climate Change (DECC). AMEE’s search engine also enables discovery of greenhouse gas standards and emission factors.

In July last year it boosted its board with Toby Coppel, former chief strategy officer of Yahoo!

It has also created RealTimecCarbon, a joint project by Dynamic Demand, AMEE and Demand Logic, which lets you see the real-time carbon intensity of electricity so consumers can avoid consuming at times of high emissions. This could eventualy be linked to appliances, buildings and factories so they could automatically manage demand according to the carbon being released.

Pat Burtis, Investment Manager at Amadeus Capital Partners, joins the AMEE Board of Directors.

  • Morgan Warstler

    This reeks of new webby cheerleaders for global warming. I’m sad to see Fred involved in this.

    What a drag on the economy. Maybe they can quickly quickly buy up a “GW Idiot credit” from a coal mine in West Virginia to offset this travesty.

    Alt energy’s legitimate argument is getting off foreign oil. None of that is this.

    • kid mercury

      agree morgan. extremely disappointing to see any VC firm involved with this. it is a fascist investment — government legislating a market into existence, and then investors and corporate interests lining up to make it happen, all while acting like this is not a political investment based on non-evidence. i hope we create a culture where the ignorance required to be a part of AMEE is considered socially unacceptable.

    • Cruncher

      Baseless rhetoric and childish invective to counter an objective, scientific, transparent, apolitical attempt to provide universal access to up-to-date, auditable, traceable data (exactly what the IPCC have been criticised for not doing). Way to go Morgan and Kid Mercury.
      AMEE doesn’t provide opinion about foreign oil or alternate energy – though it will happily provide data if you want to build arguments either way. That’s probably not of interest to those lacking objectivity and actively promoting ignorance. If you don’t agree and you can spare a precious moment to get off your soap-box, find some better data – and AMEE will publish that too.

    • fred wilson

      regardless of what you think of global warming, we should reduce carbon consumption for a host of reasons.

      amee provides a scorecard for doing that.

  • johnerik

    “a fascist investment,” i think that’s taking it a bit too far.

    i guess i have the exact opposite view as you guys, when i read this post i immediately emailed it to my girlfriend and said “i want to work for this company.”

  • DJW

    well done for getting the first comment in, Morgan. If you want to try some informed opinion, as opposed to alarmist, maybe you should read this, and this
    *before* posting

    • Morgan Warstler

      I have no idea what you mean. Carbon trading is a tax on a falsehood. This isn’t an alternative energy play to reduce the need for Middle East oil, this has nothing to do with peak oil.

      Unless the product changes, this company is proof that it’s investors don’t care if there’s no man-made global warming, they are still going to cheerlead for their own financial benefit that there is.

  • Zip

    How is this even a business?

  • WulfCry

    isn’t this story related to the one a few months ago where the same idea was backed up by Condeleeza Rice, Or is this one another startup trying the same thing but it could be that particular startup but with another name eh?.

  • AMEE secures $5.5m to go global with realtime carbon monitoring « NeXtUp Innovation

    […] secures $5.5m to go global with realtime carbon monitoring By nextupinnovation AMEE, has secured a $5.5m series B financing lead by Amadeus Capital Partners alongside existing investors, including O’Reilly AlphaTech Ventures and Union Square Ventures. […]

  • AMEE Goes Global « Information Systems for Environmental Sustainability

    […] What else will AMEE do with all that data? One example is aggregation and display of carbon emissions by geography, which has recently gone global. AMEE secures $5.5m to go global with realtime carbon monitoring […]

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