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Private Equity | 12 May 2015

Energy Management Solutions Company Ecolibrium Plans Fund Raise

by Ahemad Shaikh
Energy Management Solutions Company Ecolibrium Plans Fund Raise
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Ahmedabad based Ecolibrium Energy, a energy management company floated by the Sohni family is in talks with investors for its next round of funding.

Earlier, IFC, a member of the World Bank Group had invested $1Mn in the company.

Founded in 2008 by Chintan Soni and Harit Soni, Ecolibrium Energy has been incubated at the Centre of Incubation, Innovation, and Entrepreneurship (CIIE), at IIM-Ahmedabad. It works with power distribution companies and large industrial customers in India.

The company with tracking power consumption has now also begun offering energy measurement services for areas like humidity, temperature, pressure, flow, water and other forms of energy. From 120 clients, Ecolibrium currently serves 550 customers. Its’s Smart-grid technology based product sends out critical data such as consumption, pilferage and over-shoot of consumption limits to the consumer's computer, smartphone or any internet-enabled device.

The company plans to become an energy player in the market by not only measuring all forms of energy consumption patterns but also to provide energy sourcing optimisation analytics for its clients.

Currently, Ecolibrium’s product is used by 96 industrial units in Gujarat, Maharashtra, Punjab, Karnataka, Tamil Nadu, Andhra Pradesh and some other states. The company charges charges a one-time fee for the device and also charges an annual fee for annual reports, analytics, suggestions and alerts on power consumption. The customers can payback withing a range from six months to a year.

It wants to focus on specific industries such as pharma, manufacturing, cement, paper and pulp industries after complete offering for pharma, auto ancillaries, iron and steel.

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