PRESS RELEASE
U.S. Energy Group
New York, New York
February 1, 2011
press release (PDF 28K)U.S. Energy Group Announces Plan to Expand Business Across Northeast
U.S. Energy Group, a leader in developing information technology to make buildings more sustainable, today announced plans to significantly increase its footprint in both commercial and residential buildings throughout the northeastern United States. This growth plan is supported by $1.5M in multi-phased financing from the New York City Investment Fund, which is the economic development arm of the nonprofit Partnership for New York City.
U.S. Energy Group specializes in energy information and management systems, offering automated, ntegrated, real-time status and building control via the internet. The systems are installed in over 3500 buildings, and they prevent overheating and provide significant savings across a wide-range of building types and sizes, with a payback of less than two years.
“We will continue to bring the highest levels of technological ingenuity and service to our current and future customers,” stated Jerry Pindus, CEO of U.S. Energy Group. “We appreciate the confidence and financial backing of the New York City Investment Fund, which will be instrumental in implementing our vision.”
The growth plan will focus on increasing sales within the large portfolio residential and commercial sectors and expanding the company’s authorized Value-Added Reseller network (VARs) throughout the Northeast. “Energy management has shifted from old and inefficient mechanical timing devices for control of fuel and energy use, to sophisticated, online information-based systems,” stated Tom Scali, U.S. Energy Group’s VP of Sales. “We need to attract and train those quality installation companies whose vision of comprehensive energy management systems (EMS) matches ours.”
The expansion is a response to increasing demand for U.S. Energy Group’s systems. U.S. Energy Group has experienced a 73% increase in sales in recent years, and recently added a Senior Vice President for Business Development (Bruce Kafenbaum), a Chief Financial Officer, a Director of Software Engineering and several new customer-focused Portfolio Managers. Financing from the New York City Investment Fund will support further development of information-based, energy management technologies and services.
U.S. Energy Group is uniquely positioned to prepare building owners and property managers for New York City’s new benchmarking requirements, which go into effect in May 2011. The requirements are designed to establish a “base-line” of energy usage to facilitate tangible and statistical proof of energy savings, payback, and overall environmental benefits going forward. The company’s USE Manager 6.1 software platform has the ability to share information directly with the EPA’s Portfolio Manager*, making benchmarking and reporting automated and hassle-free.
“Embodied in our vision is a commitment to continue developing technological solutions that make efficiently operating building portfolios easier and more cost-effective,” stated David Unger, Chief Operating Officer of U.S. Energy Group. “We will continue to lead New York to a greener future.”
New York’s future as a global center of commerce depends in no small measure on our ability to create jobs in cutting edge areas such as information technology for building sustainability,” said Maria Gotsch, President & CEO of the New York City Investment Fund. “U.S. Energy Group’s growth initiative promises to accelerate the growth of new companies, new technologies and jobs in the five boroughs by allowing companies to manage their energy systems more efficiently."
Founded in 1978 by CEO Jerry Pindus, U.S. Energy Group is a metro-New York based firm, which develops and integrates energy control, monitoring and analysis hardware and software systems for large residential and commercial properties. With the slogan “Building Efficiency Through Information Management,” the company’s three flagship products include: USE Manager™, an Internet-based building management service which provides information to keep buildings running energy-efficiently and cost-effectively; USE Controller™ Energy Management System (EMS), which controls and monitors energy and fuel use, prevents overheating and provides significant savings, with payback in less than two years; and USE Verifier®, a patented ultrasonic measurement system which enables building owners and managers to verify the amount of oil they receive, as well as control their inventory and budget. The USE Controller EMS and USE Verifier have received the ETL Mark, indicating superior product safety and quality. With U.S. Energy Group’s products and services, building owners save money, conserve energy and enhance tenants’ comfort.
The New York City Investment Fund (www.nycif.org) is the vision of Henry R. Kravis, founding partner of Kohlberg, Kravis, Roberts & Co., and is the investment and the economic development arm of the Partnership for New York City (www.pfnyc.org), the city's largest business organization. The Investment Fund has raised over $110 million to mobilize the city's world financial and business leaders to help build a stronger and more diversified local economy. It has built a network of top experts from the investment and corporate communities who help identify and support New York City's most promising entrepreneurs in both the for-profit and not-for-profit sectors. The Fund is governed by a Board of Directors co-chaired by Russell L. Carson, General Partner of Welsh, Carson, Anderson & Stowe; and Richard M. Cashin, Managing Partner of One Equity Partners.
For more information on U.S. Energy Group’s strategic growth initiative, products and services, visit www.use-group.com. Site-surveys, estimates and demonstrations can be scheduled by contacting Tom Scali, Steve Guerrero or Rick Francis at (718) 380-1004 or info@use-group.com. With 30 years in the industry and over 3,500 system installations, the company has earned a reputation for product quality and personalized customer support.
* EPA – The Federal Environmental Protection Agency’s portfolio reporting platform that is required by New York City’s Greater Greener Building Plan (Local Law 84).