Enervee

Enervee is a company that provides an ecommerce platform for energy-efficient appliances and consumer electronics. The company's core offering is a marketplace that allows utility customers to explore and purchase energy-saving products. Enervee's platform features a unique 0-100 Enervee Score for each product, indicating its energy efficiency compared to others in the same category. The marketplace also provides personalized estimates of energy bill savings and total cost of ownership for each device over its lifetime.

The company's technology integrates manufacturers, retailers, and product review sites, linking them digitally to utility offers. Enervee's platform enables utilities to deliver personalized offers to customers before, during, and after purchases. As of April 2022, Enervee had partnered with 20 of the largest utilities in the US, serving over 40 million customers across states including California, Illinois, Michigan, Pennsylvania, and Washington.

In 2019, Enervee introduced two key features: Reward Fast Track and Enervee Checkout. Reward Fast Track allows customers to claim utility incentives in a single step, while Enervee Checkout enables instant online discounts for energy-saving products. These features aim to streamline the process of obtaining rebates and incentives for energy-efficient purchases.

In May 2022, Enervee launched its Eco Financing product, offering microloans of up to USD 5,000 for energy-efficient appliance purchases. This program aims to make energy-efficient products more accessible to a broader range of consumers, including those with lower credit scores. The company raised USD 35 million in April 2022, consisting of USD 30 million in equity investment from Kerogen Capital and USD 5 million in debt financing commitment from J.P. Morgan.

Key customers and partnerships

Enervee's key customers include major utility companies across the US. Notable partnerships include Pacific Gas and Electric Company (PG&E) and Southern California Edison (SCE). The company also partnered with Southern California Gas and the state of California to launch its Eco Financing product in 2022. Additionally, Enervee has expanded its Eco Financing program to utilities such as AEP Ohio and the Tennessee Valley Authority.