HVAC Breaking News

May 18, 2004: Encorp And Envenergy Combine, Gain Funding

May 18, 2004
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WINDSOR, Colo. - Encorp and Envenergy have formed a new holding company, with each firm merging with wholly-owned subsidiaries of the holding company. Upon completion of the transaction, the new holding company, named Encorp Inc., simultaneously closed on $7.11 million in new funding.

Encorp develops and markets services and products for the communication, control, and networking of distributed energy. Envenergy develops and markets remote monitoring, control, and gateway services and products for building automation systems.

The new holding company is headquartered in Windsor, Colo., with Dennis Orwig, CEO of Encorp, serving as CEO of Encorp Inc., and Mike Cruse, Envenergy co-founder and chief technology officer, serving as chief technology officer of Encorp Inc.

"All of our investors understand the important role Encorp plays in the distributed-energy market," Orwig said. "This transaction allows us to expand our role in the distributed energy arena and offer technologies to enhance building automation systems."

Encorp Inc. will continue to provide products and services to existing Envenergy and Encorp customers.

Envenergy's Mediator technology and enterprise architecture are expected to become the communications, gateway, and control platform for Encorp's distributed-energy products. According to the company, Mediator technology offers a single Web-based view of nearly all building systems in a facility, including HVAC, lighting, refrigeration, and security. With the transaction, the technology will be expanded to include distributed-energy operations.

"The transaction broadens Encorp's product line," Orwig said. "We'll now be available to help manufacturers, retailers, hospitals, department stores, office towers, health clubs, and other companies reduce operation and maintenance costs of energy or equipment. It also deepens Encorp's IT infrastructure and provides expanded communication and control technologies for our customers."

For more information on Envenergy, visit www.envenergy.com. For additional information on Encorp, visit www.encorp.com.

Publication date: 05/17/2004

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