Though the amount of money conveyed has been kept private, London-based AMEE (which calls itself “The World’s Energy Meter”) has raised “substantial” funds from a group of VCs in the UK and US, including O”Reilly Alphatech Ventures, Union Square Ventures, and The Accelerator Group. For AMEE’s announcement see http://www.amee.com/?p=556.
Ever since Francis Bacon and Michel de Montaigne began to write essays on what we would call science and the scientific method, measurement has been a key to scientific endeavor, and now that climate change and cleantech are clearly global concerns that require global efforts, that measurement is no less important — just that the scope of measurement is unimaginably large. Following on the Encyclopedists of the 18th century, AMEE’s goals are universal in scope.
AMEE already provides environmental assessment tools to many large organizations, including the UK government, Morgan Stanley, Google, Radiohead, Sun Microsystems and BRE. AMEE’s website has some brief case studies, of which this is one on UK government use: http://www.amee.com/wp-content/uploads/2008/12/amee-decc.pdf.
AMEE software and data are supplied as an SaaS web-based service that, according to its seemingly hubristic self-description, looks to collect “every emission factor and methodology in the world related to CO2 and energy assessments (individuals, businesses, buildings, products, supply chains, countries, etc.), and all the consumption data (fuel, water, waste, quantitative and qualitative factors). The service combines measurement, calculation, profiling and transactional systems.” AMEE says it “can facilitate smart grids, information systems, legislative frameworks and compliance schemes.”
AMEE was named to Greenbang’s UK Clean Tech Start-Up Index earlier this year (http://www.greenbang.com/4848/the-clean-tech-start-up-index-amee/).
This sort of investment may, happily, be a significant variant from the statistics collected by Om Malik, who translates them by saying that in 2009 VCs will be “hiding under their desks.” (http://gigaom.com/2008/12/17/proof-group-think-a-dominant-vc-trait/).