Science & Technology
Science and Technology
Science and Technology
Tue, September 1, 2009 Octus Energy: Octus Energy and University of California Execute Exclusive Worldwide License for Energy-Efficient Evaporative Co
DAVIS, CA--(Marketwire - September 1, 2009) - Octus Energy (
"WCEC is very pleased Octus has licensed Wickool from UC Davis," said Mark Modera, director of the WCEC and a Sempra Energy Distinguished Scholar in Energy Efficiency. "We believe Octus will expeditiously move the technology into the marketplace."
The Octus Smart Energy Platform (OctusSEP) integrates, automates and optimizes the energy-efficiency of lighting and cooling equipment, controls, sensors and systems such as Wickool. In the United States there are approximately 4 million 7.5-ton or larger unitary rooftop air conditioning units, with $40 billion spent annually to cool commercial buildings, representing one-sixth of all energy consumed nationally.
"Wickool exemplifies what Octus looks for in smart energy products: A differential solution germinating from a world-class research university that addresses an immense and growing market," said Octus CEO Chris Soderquist. "The WCEC drives innovation in the HVAC industry, and Octus looks forward to commercially harvesting Wickool."
"Wickool addresses an important niche in cooling more efficiently," said Modera. "It makes use of the condensate water that is normally wasted from existing roof-top packaged air conditioners to improve their cooling efficiency, and can be applied as a retrofit accessory. Moreover, the cost of installing Wickool can be significantly offset by avoiding the need for condensate piping."
Octus anticipates completing commercial testing of Wickool in the next 45 days, at which time it intends to commence sales, marketing and channel development of the product. Wickool's development is supported through funding from the Public Interest Energy Research program of the California Energy Commission.
"This collaboration between WCEC and Octus Energy is evidentiary of how innovations can be brought to market," said Benjamin Finkelor, executive director, UC Davis Energy Efficiency Center. "There is tremendous potential to improve the efficiency -- and reduce the electricity consumption and peak demand -- of HVAC systems. Wickool is a simple, pragmatic, ready-to-market solution."
About Octus
Octus Energy is a smart energy management company headquartered in Davis, California. Octus develops, markets and sells energy-efficient lighting and cooling solutions through OctusSEP (Smart Energy Platform), a turnkey, automated energy savings and demand response management program targeting a $40 billion annual market in the United States.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that may be identified by the use of terminology such as "believe," "could," "estimate," "expect," "may," or comparable terminology. Any statements regarding Octus' business, Wickool, or other matters that are not historical facts may be considered "forward-looking statements." Such statements are only predictions and involve known and unknown risks and uncertainties, many beyond Octus' control. Some factors that could cause future results to differ from the results contemplated herein include: the ability to fund development and commercialization; system performance; customer demand; competitive products; and economic conditions. You should review risk factors and other disclosures in Octus' filings with the SEC, including the most recent annual report. Octus undertakes no obligation to update forward-looking statements to reflect the occurrence of unanticipated events or new information, events or circumstances after the date they were made.
