Frost & Sullivan Confers Early Stage Investment Opportunity Award on ReMake Electric
Award highlights company’s excellence across product, marketing and management lines
Based on its recent analysis of the energy equipment and instruments market, Frost & Sullivan recognises ReMake Electric with the 2012 Europe Early Stage Investment Opportunity Award.
"ReMake Electric provides sustainable energy management solutions that help customers optimise their energy usage," notes Frost & Sullivan Senior Analyst Vinod Cartic. "Simple, innovative and versatile solutions promote energy conservation, while enabling customers to make economic gains."
Since 2006, ReMake Electric has filed 4 patent applications in the Patent Co-operation Treaty (PCT) national phase process, covering 22 independent claims and over 104 claims in total. This testifies to the vigour of its intellectual property.
The company is managed by a diverse and strong managerial team, comprising the right blend of expertise and acumen. This team has acted as the fulcrum in ReMake's steady growth and quest for a global leadership position.
ReMake Electric's funding history as well as the strength and quality of its investors is commendable. The company announced that it had raised a second round of funding in 2011 and a third round in 2012. The rounds included participation from Eyrir Invest and New Business Venture Fund which now owns a 26.2 per cent and 18 per cent stake, respectively, in the company through the transaction. In the summer of 2012 Eyrir Invest moved its shares to Eyrir Sprotar, which is the shareholder today.
"The investors in ReMake Electric come in as advisors on the board," says Cartic. "For instance out of the 5 board members, 3 are investors. This also helps address the investor-management conflicts, common to many other competitors."
ReMake Electric excels in developing basic electrical meteringproducts for energy consumption monitoring and analysis. It serves both commercial and residential customers. Given that many of its customers are based in Europe, ReMake Electric has, so far, adopted a very successful direct selling strategy.
"From 2012, ReMake Electric plans to sell through established distribution companies in a bid to create a more global presence," states Cartic. "The company has positioned itself as a single-point, end-to-end solution provider for optimising energy usage."
ReMake offers new ranges of intelligent metering products along with licensing metering modules and solutions. These products range from metering auxiliary products to existing electrical safety products from co-operation partners. The auxiliary products are used to add value and new monitoring possibilities to existing electrical systems in commercial, light industrial and large residential buildings
"They offer click-on products adding informational features and value to traditional safety products and furthermore adding communication possibilities to electrical systems in buildings," explains Cartic. "This ability to integrate new designs with existing systems and optimally meet customer needs has been a key success feature of ReMake Electric's product differentiation capabilities."
ReMake Electric partners with leading electro-technical manufacturers to market electrical product solutions. This ensures rapid and easy access to international markets. Products are branded according to its partners and distributed to their established marketing channels.
"ReMake Electric's IT solutions are platform agnostic, adapting effortlessly to partner requirements and established service platforms," concludes Cartic. "The company functions as a service partner in managing web-based energy management and services for some partners, while for other partners with established web-based energy management services, it provides software modules through API."
Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of its intellectual property, the experience and expertise of its management team, its funding history as well as the strength and quality of its other investors. The company is also commended for its superior market growth and positioning, product differentiation capabilities and expansion strategy.
Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About ReMake Electric
ReMake Electric develops, manufactures and markets innovative and intelligent end-to-end solutions to manage and maintain responsible energy usage.
At ReMake we believe that we need to engage businesses in a totally new way. We provide businesses with versatile yet easy to use tools to gain detailed insight and control over their energy usage. Our solutions actively assist them to identify opportunities for optimizing consumption, operational reliability and safety, while helping them sustain the improved situation. No fuzz, just results when needed where needed.
Our patented and patent pending hardware and proprietary software solutions have been recognized with prestigious international honors and awards. Our customers include household names such as Ikea and Coca Cola and have seen rapid Return on Investment through savings of up to 44% on their energy bill along with identifying and fixing situations preventing potentially costly damages or operational halts to their appliances/machinery.
We market our solutions through our partnership program network including local reselling partners in international markets and OEM supply to established suppliers of equipment and services.
- Our Resellers Program is a complete package aimed at professional installers and energy retailers, providing them with a high value added service offering for their customers, and consulting/engineering businesses with new and improved management solutions for their clients.
- Our OEM Program provides established equipment manufacturers with innovative and integrated solutions to their existing product portfolio and service providers with an extension to their existing services.
To support our growth ReMake is looking to extend our resell network through established partners.
Marcel Mendes da Costa
ReMake Electric, Director of Business Development
T: +354 535 3002 / +354 665 3002
About Frost & Sullivan
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