CDL grad EnergyX receives $500,000 as it expands into Atlantic Canada
Summary
Toronto-based EnergyX Solutions, which produces software to help businesses and consumers improve energy efficiency, is expanding into Atlantic Canada and the Eastern United States. “The funding from ACOA will help us set up our second Canadian office out of Halifax, significantly grow our team and have greater access to utilities in the East Coast, with the eventual goal of helping homes and businesses take action towards energy conservation.” EnergyX Solutions said it is establishing an office in Atlantic Canada and the eastern US because 40 percent of the company’s current sales prospects are located in that region. “At EnergyX, we have successfully graduated from the CDL program and are currently working closely with EfficiencyOne to empower all Nova Scotians to take action and become more energy efficient.” A graduate of Ryerson’s DMZ, L-SPARK, and the Creative Destruction Lab, EnergyX helps utilities and energy retailers with MyEnergyXpert, its online audit and marketplace platform designed to boost customer engagement in energy-efficient programs. Founded in 2016, the company raised $1.3 million in a round led by Globalive Capital in September and secured an additional $500,000 in January. “Halifax and Atlantic Canada, in general, have made great strides in building their innovation economies,” Brice Scheschuk, managing partner at Globalive Capital, told BetaKit.