Ecoplant raises $8 million in series A funding to reduce factories’ energy use across the U.S.
The funding news comes alongside a partnership with Atlas Machines, expanding IoT and AI-powered systems to factories across the Midwest
Ecoplant’s Software-as-a-Service (SaaS) solution continuously monitors and controls air compressors through pipeline sensors. This solution then helps adjust energy consumption based on shifting production or air consumption using its AI technology, optimizing energy consumption, and potentially reducing factory energy levels by 30%.
Ninety percent of U.S. factories use air compression, but according to the U.S Department of Energy, 50% of energy for air compression is wasted due to leaks or other issues. It is expected that Ecoplant’s solution can help save energy usage and costs by recognizing abnormalities in air pressure. The solution is system-agnostic, meaning it can be integrated into any existing technology.
“We are thrilled to be partnering with Atlas Machine,” said Aviran Yaacov, CEO and Co-founder of Ecoplant. “With their team’s deep experience in the U.S. compressed air market, extensive network, and comprehensive offering, Atlas stands as an ideal partner for us. While we are starting with compressed air, our vision is to move into chillers and pumps, as well as offer a full suite of utility resource planning tools.”
“Partnering with Ecoplant is an exciting opportunity for us,” said Richard Gimmel III, President of Atlas Machine. “Compressed air is a critical, and often overlooked, aspect of every manufacturing facility. Ecoplant’s IoT solution combined with Atlas’s decades of experience in compressed air provides an opportunity to solve the emerging challenges of the industry in new ways. We really do see this product as becoming a staple in each and every manufacturing facility in the future.”
The partnership with Kentucky-based Atlas Machine means that Ecoplant will have access to more than 3,000 factories across the U.S. Atlas Machines is a 4th-generation business that distributes Sillair compressors in Kentucky, Indiana, Ohio, and Tennessee.
Currently, Ecoplant is deployed in some American factories, as well as ones in Europe and the Middle East.