User:Lindseylinds/EcoFactor

EcoFactor is a privately held company that provides a personalized technology platform for managing residential energy use for heating, ventilation and air conditioning (HVAC). Based in San Carlos, CA, EcoFactor was founded in 2006 by John Steinberg, Scott Hublou and Leo Cheung. In November 2009 the company was awarded the national grand prize in the Cleantech Open.

Technology
EcoFactor’s SaaS-based residential energy management technology works with a two-way communicating thermostat and a broadband Internet connection. The company’s algorithms collect, analyze and act upon thousands of data points relating to a home’s HVAC needs each day – including weather patterns, a home's unique thermal characteristics and occupant preferences – to develop a dynamic heating and cooling strategy that is customized to each individual home. EcoFactor’s technology has been shown to save consumers up to 30 percent on their HVAC energy spend without requiring them to change their behavior or sacrifice their service level.

In addition to consumer savings, EcoFactor optimizes demand response programs and enables utilities to realize a greater yield of demand response per home.

Customers
EcoFactor is a participant in the "Take A Load Off, Texas" residential energy efficiency program sponsored by Oncor, a regulated electric utility in Texas. The agreement with Oncor calls for EcoFactor to deliver an efficiency-centric demand response program to eliminate the need for three megawatts of peak power -- the equivalent of about 2,000 average-sized air conditioning units.

Funding
In January 2010, EcoFactor raised a $2.4 million round of financing led by Claremont Creek Ventures.

Awards and Recognitions
2009, Cleantech Open National Award Winner