New ecobee Smart Thermostat Delivers Home Energy Conservation and Cost Savings



    ...ecobee honored twice in two weeks: selected as a Red Herring Top 50
Company and a Canada Top 10 Technology Company
    

    
    TORONTO, Oct. 14 /PRNewswire/ -- ecobee, a company dedicated to helping
consumers conserve energy, save money and reduce their environmental impact,
has just unveiled its first product, the ecobee Smart Thermostat. Homeowners
can program this new programmable thermostat easily and simply using its touch
screen, or over the internet, from anywhere, in seconds.
    

    
    The ecobee Smart Thermostat is an attractive, modern-looking consumer
electronic device with an easy-to-read full-color LCD screen, featuring
touch-screen technology. The thermostat connects to the homeowners' standard
WiFi (wireless network), which gives them remote access to their thermostat
settings from any computer. Its guided "Wizard" function leads the homeowner
through each step of the programming process with a series of simple
questions.
    

    
    "Ordinary, old-style programmable thermostats, if used correctly, save
homeowners about 15-20% of their heating or cooling bills on average," said
ecobee President & CEO Stuart Lombard. "But it takes a rocket scientist to
figure out how to program them, so people don't use them and don't get the
energy savings they could."
    

    
    Lombard explained that he founded the company because he wanted to reduce
his home energy consumption and had trouble programming his own home
thermostat. He thought there must be a better way. "The ecobee philosophy is
'green made easy'!" he remarked. "We can make a positive environmental impact
if we make conservation a simple and easy choice."
    

    
    Using the technology platform ecobee has established for its Smart
Thermostat, North American utilities can communicate one-on-one with their
residential customers, to send them branded messages, alerts and notices of
demand response events. Throughout North America, utilities are incorporating
new rate structures to drive reduction of peak demand. The ecobee Smart
Thermostat allows them to strengthen their green leadership at the community
level by empowering individual customers with the tools they need to adjust to
new rate structures so they can conserve energy and control their utility
bills. The Smart Thermostat can be pre-ordered online at ecobee's website
(www.ecobee.com) for delivery in early 2009.  It will also be available from
selected HVAC technicians. The company says the product, which sells for a
suggested price of $385, will pay for itself with energy cost savings within
the first 12 - 18 months.
    

    
    ecobee has already received high accolades: it won two awards within the
past month - prior to launching its first product:
    
    --  On September 16th ecobee was selected as a Red Herring Top 50 Company,
        celebrating the most innovative and promising companies,
    --  It was chosen as a Canada Top 10 Technology Company on September 24

    
    Lombard says the company, founded in 2007, will target the large markets
of heating, cooling and ventilation, utility demand response and green
automation. ecobee estimates that seven million thermostats are installed in
North America each year, with programmable thermostat sales of about $1
billion annually. "These markets are in for a huge shake-up," Lombard said.
"There is growing awareness of the need for home energy conservation due to
high energy prices, a lack of capacity within the electrical grid, a changing
regulatory environment and growing concern over environmental issues,
including global warming and consumers' desire to reduce their environmental
impact."
    

    About ecobee
    
    ecobee was founded in 2007 in Toronto to deliver intelligent conservation
solutions for real people. The company is building its product platform around
The Leadership in Energy and Environmental Design (LEED) Green Building Rating
System(TM). ecobee's products will be sold for use in single family homes
(both new and retrofitted) and multi-family dwellings. Last year the company
secured a $3 million Series A round of financing from three Canadian venture
capital firms (Tech Capital Partners, environmental investment company
Investeco, and JLA Ventures).  For more information, please visit
www.ecobee.com.
    






    




For further information:

For further information: Lucy Siegel for ecobee +1-212-583-1043, ext.
12, or lsiegel@bridgeny.com

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