The Daily Startup: Kleiner Perkins Backs 30-Year-Old Energy-Efficiency Firm Cenergistic

dailystartup_D_20090806101628.jpgArt by Mike Lucas

A new investment by Kleiner Perkins Caufield & Byers is a 30-year-old energy-efficiency company with 200 employees, Yuliya Chernova reports for Dow Jones VentureWire. Kleiner Perkins invested an undisclosed amount of funding from its Green Growth Fund to take a minority stake in Cenergistic Inc. Ben Kortlang, a partner with Kleiner Perkins’s Green Growth Fund, said the company has a lot going for it, namely the ability to sign up customers. That is a skill that many energy-efficiency technology startups lack. “We saw how successful they were at implementing energy savings, where pure technology models have not been succeeding,” Mr. Kortlang said. Cenergistic has more than 1,400 schools, colleges, hospitals, churches and other customers.

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Write to Mike Billings at Follow him on Twitter at @mbillings