Amadeus leads investment in Greenhouse Gas Computation Business

Press Release

AMADEUS LEADS INVESTMENT IN GREENHOUSE GAS COMPUTATION BUSINESS

Amadeus Capital Partners, the European technology investor, has led a $5.5m Series B financing in AMEE a UK- and US-based company, which has built the largest engine for computing greenhouse gas emissions. 

Existing investors, including O’Reilly AlphaTech Ventures and Union Square Ventures, also participated in the financing.  The funding will be used to expand AMEE’s geographic reach and enrich its scientific platform.

AMEE’s end market, enterprise carbon accounting, is expected to reach $4 billion by 2017, driven by increasing regulatory and consumer pressure to combat climate change.

AMEE’s engine is used by customers, such as vendors of carbon accounting or business intelligence software, governments, multi-nationals and SMEs needing to measure emissions.  Customers include leading business intelligence vendor, SAS, and the UK Government’s Department of Energy and Climate Change (DECC).

Currently, multiple standards and hundreds of thousands of individual emission factors must be consulted to determine the footprint of activities and products.  The result is that corporations and carbon accounting practitioners have to navigate a complex regulatory and scientific maze in order to calculate and verify an organisation’s emissions.

AMEE has codified the major greenhouse gas standards, together with their computational models and emission factors, into an engine available to clients via a web-based Application Programming Interface (API).   AMEE’s search engine  also enables discovery of greenhouse gas standards and emission factors, while tracking provenance and providing a full audit trail for carbon accounting practitioners. 

Pat Burtis, Investment Manager at Amadeus, who joins the AMEE Board, says: “AMEE has recognised a clear and present need in the carbon accounting market and moved quickly to fill the gap.  AMEE’s team has an exceptional combination of scientific, software and web expertise and we are delighted to be part of their exciting growth story.”

AMEE joins Amadeus’ growing portfolio of cleantech companies that includes GreenRoad, Nujira and Edgeware. 

Gavin Starks, CEO of AMEE, adds: “We are excited to have Pat joining the AMEE Board. Amadeus has demonstrated a deep understanding of our business and its strategic vision.  AMEE addresses core needs of trust, accuracy and auditability in this market and this funding will catalyse our deployment.”
Legal advisers on the funding were Gunderson Dettmer for Amadeus and Cooley Godward for AMEE.

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For further information please contact Chantal Ligertwood, PR for Amadeus, +44 (0)7976 229 210

NOTES TO EDITORS

About Amadeus
Amadeus Capital Partners is one of Europe’s leading technology venture capital firms.  Since its inception in 1997, the firm has backed companies across the technology spectrum in industries that include communications and networking hardware and software, cleantech, medtech, computer hardware and software, media, and e-commerce.  Amadeus has over £470m under management, with active investments in around 40 companies at any time.  Amadeus offers its investee companies more than just capital – it offers vision, imagination, experience and a network of contacts across the globe.

Global businesses built by Amadeus include Cambridge Silicon Radio Ltd, now CSR plc (LSE:CSR), the leading producer of single chip bluetooth radios for short range connections, and Solexa Ltd, the developer of next generation genetic analysis systems, merged into Illumina, Inc. (ILMN) to create the world-leader in gene-sequencing technology.

About AMEE
AMEE helps companies. Governments and consumers calculate their carbon footprint consistent with the best science and international standards.  The AMEE API provides access to the most up to date carbon and environmental data.  Applications and solutions that are powered by AMEE help ensure compliance with authoritative international standards.

In addition to venture backing, AMEE is also backed by leading angel investors Toby Coppel (ex Yahoo, Allen & Co), George Coelho (Good Energies), Saul Klein (The Accelerator Group, Index Ventures), Afshin Rabbani (Princeton Consulting) and Alex Code (Bloomberg).