A California company aiming to cut industrial power consumption received a boost from investors in April.

Costa Mesa-based energy management firm EPS Corp. closed a $30 million Series B investment round led by Denver-based Altira Group.

The industrial and manufacturing sector is one the most underserved areas when it comes to energy efficiency, EPS CEO Jay Zoellner says. “There’s not a lot of detailed information about energy use.” EPS says it’s trying to fill that gap with xChange Point, a hardware- and software-based system that monitors energy use both within and across industrial facilities. The company also develops site-specific renewable power sources for facilities, including solar and cogeneration projects.

EPS, which tripled its revenue in 2008, plans to funnel the funds toward development and expansion of xChange Point. It is also exploring possible acquisitions of other products and companies, Zoellner says. The eight-year-old company’s clients include Dallas-based Dean Foods (NYSE:DF), for which EPS built a cogeneration system for several dairy processing plants, and Irvine, Calif.-based Royalty Carpet Mills.

When looking to implement efficiency measures, Zoellner says industrial clients are largely focused on the financial payback, but are starting to consider other factors, as well.

“Companies are beginning to understand that regulatory changes are coming down the pipe,” he says.

EPS is one of several energy efficiency companies that have lured in venture dollars in 2009 despite the sluggish economy. Analysts point to the dual benefits energy efficiency solutions offer—cost and energy savings—as key drivers of the sector's current success.

Reprinted with permission from SustainableIndustries.com