NAPLES, Fla. (April 7, 2016) – The Tamiami Angel Fund II (T2) recently closed on its ninth portfolio company, investing $250,000 in eNow Inc. (eNow).
The innovative, clean technology company develops and sells proprietary renewable energy systems for commercial and public transportation vehicles. eNow’s solar panels use the latest in technology to capture and convert the sun’s energy into useable power.
Formed in 2011, eNow’s team of experts include industry leaders in solar power applications, transportation, technology, engineering and environmental science.
“Fuel costs are one of the largest expenses for fleet operators and industry participants,” said Jeff Flath, founder and president of eNow. “Truckers idle engines in order to keep the engine block warm, to heat and cool the cabin and to operate lift gates. Using the engine for these types of functions consumes almost a gallon of diesel fuel per hour and constitutes nearly eight percent of total fuel use. Our product is enabling customers to substantially reduce the costs associated with operating trucking fleets by providing a less expensive, solar-based energy system.”
The no-idle climate control system has shown an annual savings of $8,000 to $12,000 in operational tests. In addition to cost savings, customers also benefit from emissions reduction and less wear and tear on motors.
In a 2015 report released by Ohio State University’s Center for Automotive Research, findings showed that eNow’s solar auxiliary power systems can significantly improve fuel economy by utilizing solar power to charge a vehicle’s auxiliary batteries.
“The funding from T2 will allow us to expand our marketing outreach efforts as well as continue product development and testing,” said Flath.
Recently, eNow announced the launch of its new Solar Photovoltaic Panels system integration for the Dometic Blizzard Turbo auxiliary air conditioner. The combined eNow-Dometic system is the first solar-powered air-condition for the Class 8 sleeper trucks. The system enables a typical Class 8 driver to extend run time of the air-condition, resulting in increased savings on diesel fuel costs and reducing the alternator load.
“We’re very excited about the platforms and products the company has developed,” said Bud Stoddard, a Tamiami Angel Fund II member and eNow board member. “eNow’s unique energy management systems is one of the most advanced systems available today. It’s not only a great sector investment for T2 but also an impact opportunity to transform the transportation industry.”
eNow designs and sells solar power idle reduction systems for medium and heavy-duty vehicle applications. These products are designed to reduce fuel and maintenance costs, save energy, and reduce harmful emissions. The company’s goal is to provide industry-specific solar solutions to companies that embrace profit, planet and people. The company provides sustainable solutions to the increased regulatory requirements of its customers while allowing them to realize a significant return on their investment. To learn more, visit www.enowenergy.com.
The recent venture continues T2’s commitment to investing in high-potential, accelerated growth companies. Its members include former executives of major national and global corporations and successful entrepreneurs that have exited their businesses.
Tamiami Angel Fund I & II LLC are member-managed funds designed to enable private accredited investors to actively participate in a disciplined investment process. The funds invest in promising early-stage through expansion-stage commercial ventures located in the U.S., with a preference to those in the state of Florida. The Funds are members of the Angel Capital Association and the Florida Venture Forum. For more information, visit www.tamiamiangels.com.
The innovative, clean technology company develops and sells proprietary renewable energy systems for commercial and public transportation vehicles. eNow’s solar panels use the latest in technology to capture and convert the sun’s energy into useable power.
Formed in 2011, eNow’s team of experts include industry leaders in solar power applications, transportation, technology, engineering and environmental science.
“Fuel costs are one of the largest expenses for fleet operators and industry participants,” said Jeff Flath, founder and president of eNow. “Truckers idle engines in order to keep the engine block warm, to heat and cool the cabin and to operate lift gates. Using the engine for these types of functions consumes almost a gallon of diesel fuel per hour and constitutes nearly eight percent of total fuel use. Our product is enabling customers to substantially reduce the costs associated with operating trucking fleets by providing a less expensive, solar-based energy system.”
The no-idle climate control system has shown an annual savings of $8,000 to $12,000 in operational tests. In addition to cost savings, customers also benefit from emissions reduction and less wear and tear on motors.
In a 2015 report released by Ohio State University’s Center for Automotive Research, findings showed that eNow’s solar auxiliary power systems can significantly improve fuel economy by utilizing solar power to charge a vehicle’s auxiliary batteries.
“The funding from T2 will allow us to expand our marketing outreach efforts as well as continue product development and testing,” said Flath.
Recently, eNow announced the launch of its new Solar Photovoltaic Panels system integration for the Dometic Blizzard Turbo auxiliary air conditioner. The combined eNow-Dometic system is the first solar-powered air-condition for the Class 8 sleeper trucks. The system enables a typical Class 8 driver to extend run time of the air-condition, resulting in increased savings on diesel fuel costs and reducing the alternator load.
“We’re very excited about the platforms and products the company has developed,” said Bud Stoddard, a Tamiami Angel Fund II member and eNow board member. “eNow’s unique energy management systems is one of the most advanced systems available today. It’s not only a great sector investment for T2 but also an impact opportunity to transform the transportation industry.”
eNow designs and sells solar power idle reduction systems for medium and heavy-duty vehicle applications. These products are designed to reduce fuel and maintenance costs, save energy, and reduce harmful emissions. The company’s goal is to provide industry-specific solar solutions to companies that embrace profit, planet and people. The company provides sustainable solutions to the increased regulatory requirements of its customers while allowing them to realize a significant return on their investment. To learn more, visit www.enowenergy.com.
The recent venture continues T2’s commitment to investing in high-potential, accelerated growth companies. Its members include former executives of major national and global corporations and successful entrepreneurs that have exited their businesses.
Tamiami Angel Fund I & II LLC are member-managed funds designed to enable private accredited investors to actively participate in a disciplined investment process. The funds invest in promising early-stage through expansion-stage commercial ventures located in the U.S., with a preference to those in the state of Florida. The Funds are members of the Angel Capital Association and the Florida Venture Forum. For more information, visit www.tamiamiangels.com.
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