Business
Business News from companies in Boulder, Colorado
High-tech, energy saving Boulder company is booming
Feb 8th
Albeo’s High Bay LED Lights provide up to 95% energy savings compared to fluorescent or metal halide (HID)
BOULDER, CO — February 6, 2012 — Albeo Technologies, a leader in solid-state industrial and commercial lighting solutions, announced today significant sales growth in 2011, making it the company’s most profitable year to date. Total company revenue increased 50 percent from 2010 and sales for retrofit and renovation grew 300 percent. All in all, Albeo shipped 26,675 fixtures in 2011 and added 10 new engineering jobs.
Albeo LED fixtures currently light over 7 million square feet of space, the equivalent of 121 American football fields. Much of Albeo’s success in 2011 comes from the company’s ability to offer a wide range of LED lighting solutions that are flexible enough to shine the exact right amount of light in variety of applications. Albeo LED Lighting systems are cost-effective, energy efficient and feature ROI as short as one year. Strong markets for Albeo in 2011, included Fortune 500 data centers, cold storage facilities, parking structures, schools and large manufacturing facilities.
“We are thrilled to be demonstrating such strong and continued growth,” said Jeff Bisberg, Co-Founder and CEO of Albeo Technologies. “Few cleantech startups are growing exponentially. In 2011, our 50% increase in revenues resulted in 10 new “green jobs” in engineering and we expect continued job creation in 2012. We have been profitable for two years now and are grateful to all of our customers who are supporting our success.”
The popularity of Albeo products comes from the ability to fully customize each LED fixture before and after installation. Such modular innovations help architects, facility managers and lighting designers to maximize both energy savings and functionality, while minimizing lighting maintenance costs. In addition, Albeo’s motion sensors and other power saving controls help facilities reduce lighting energy use up to 95%. The average return on investment (ROI) for Albeo products is one to three years. The spectrum of Albeo products range from high bay, low bay and surface mount fixtures, to display cabinets and task lighting.
ABOUT ALBEO TECHNOLOGIES
Albeo Technologies is a leading LED Lighting manufacturer for industrial and commercial buildings, such as cold storage, data centers, retail, schools and businesses. The Albeo products range from high bay and low bay solutions, to linear, surface mount and under cabinet fixtures. The company has lit over 7 million square-feet of space to date and have won 14 independently-judged awards, including 5 from the US Department of Energy (DOE). Albeo’s fully customizable, reliable and low-maintenance LED lighting products offer energy savings up to 95% and an ROI of 1-3 years. For more information, go to www.albeotech.com.
Boulder approves “incentive” for another innovative energy companyy
Jan 27th
City Manager approves business incentive for Eetrex
City Manager Jane S. Brautigam has approved a flexible rebate application for Boulder-based Eetrex Incorporated, for up to $26,000 in rebates. The rebates were authorized for sales and use taxes, and permit-related fees.
The flexible rebate program is one of the city’s business incentives, covering a wide range of fees, equipment and construction use taxes. Under this program, the city manager may consider a specific incentive package for tax and fee rebates to meet a company’s specific needs. The company is then eligible for the rebate after it has made its investment and paid the taxes or fees to the city.
“Eetrex is part of the new energy economy and is leading innovation in power electronics and battery systems,” Brautigam said. “The city is pleased that its incentives are helping Eetrex grow and stay in Boulder.”
Eetrex develops power electronics and battery systems for the electric and plug-in hybrid-electric vehicles, telecommunications, and computing industries. The company is also the leading developer of on-vehicle inverter-chargers, known as Invergers™. Its battery systems are being used in demonstration projects to show how they can effectively store energy from wind and solar generation to offset peak loads and utilize clean energy more effectively. In 2006, Eetrex was founded in Boulder and moved into a larger 9,700 square-foot space at 4900 Pearl East Circle, Suite 110, in June 2011.
Kathryn Miles, president of Eetrex, said, “Eetrex is committed to supporting the community and establishing our business as an environmentally conscious company. Not only is our technology helping to green the transportation industry and support alternative energy, but we also encourage employees to ride their bicycles to work along with our zero waste practices. We are very pleased to receive this award in recognition of our efforts.”
The flexible rebate program uses social, community, and environmental sustainability guidelines. Companies choose the guidelines that best fit their circumstances, but must meet minimum requirements in order to receive the rebate. Eetrex has exceeded the minimum requirements of the community sustainability guidelines. Of note, Eetrex is implementing a zero waste policy through Green Girl Recycling and is a member of the 10 for Change challenge, which included an energy audit of its facility. The company also will request an EnergySmart training through the city’s Local Environmental Action Division.
Eetrex’s flexible rebate application is one of six submitted to the city in late 2011. Four 2011 applications are pending. The city’s approved 2012 budget includes $350,000 in funding for 2012 flexible tax and fee rebates for primary employers.
For more information about the city’s economic vitality program, go to www.bouldercolorado.gov, click on “Business,” or call Liz Hanson at 303-441-3287.
Boulder gets heavy hitter law firm for first swing at Xcel
Jan 23rd
The City of Boulder has selected the law firm of Duncan, Ostrander & Dingess, PC to help the city as it begins potential condemnation proceedings for the electric utility system within city limits that is currently owned by Xcel Energy. The firm will advise the city in all matters related to the acquisition of electrical distribution facilities and will work to determine the fair value of those facilities.
The city has retained this counsel to provide expert assistance as it moves towards potential municipalization of the electrical distribution system in Boulder, which stems from the passage of ballot items 2B and 2C in November. The city has said it intends to hire outside legal counsel, as well as engineering consultants, to perform some of the work necessary to determine the final costs associated with acquiring Xcel’s system and starting a city-owned electrical utility. City Council will not make a decision about whether to issue bonds to pursue municipalization until those costs are known.
If the city decides to proceed with asset acquisition, and a price cannot be negotiated with Xcel Energy, Duncan, Ostrander & Dingess, PC will file all legal actions that may be necessary to work through the condemnation process. The firm will work closely with city staff and Federal Energy Regulatory Commission (FERC) counsel, engineers and appraisers as the city creates a separation plan and conducts negotiations.
Duncan, Ostrander & Dingess, PC was chosen from a field of 10 original submissions that was narrowed down to three finalists after a review of all credentials. In evaluating submitted proposals, the city looked at whether the firm had prior experience representing governments in condemnation proceedings, and the nature and extent of its practice in Colorado.
Duncan, Ostrander & Dingess, PC has more than 30 years (as individuals and then as a firm) of service helping governments, urban renewal authorities and utility companies to acquire property for public projects in a timely manner and at fair prices, and has previously represented the City of Boulder in condemnation proceedings. In 2011, U.S. News & World Report designated the law firm as “Best Lawyers Tier One – Eminent Domain and Condemnation, and Litigation – Eminent Domain and Condemnation.”
The firm and its individual members have served as lead counsel for a number of high-profile public projects that required acquisition of multiple parcels in numerous jurisdictions under time restraints imposed by bond financing or other public financing. These include E-470, T-REX, Prairie Waters, FasTracks, the White Cliffs Pipeline and the Rocky Mountain Express Pipeline.
For more information on Duncan, Ostrander & Dingess, PC, visit www.dodpc.com. Visit www.BoulderEnergyFuture.com for more information on the city’s work related to potential municipalization.