AEC Angels Invests in Enviro Power

Venture capital platform draws from decades of first-hand AEC and technology experience
Published: Oct. 13, 2021 at 9:00 AM EDT|Updated: Oct. 21, 2021 at 9:00 AM EDT

NEW YORK, Oct. 21, 2021 /PRNewswire/ -- AEC Angels, a venture capital platform focused on developing technologies in the architecture, engineering and construction sectors, has announced investments in Enviro Power, a later-stage energy technology company set to disrupt the heating-system market with its breakthrough SmartWatt Boiler technology.

Syska Hennessy Group, Inc. (PRNewsfoto/Syska Hennessy Group)
Syska Hennessy Group, Inc. (PRNewsfoto/Syska Hennessy Group)

AEC Angels focuses on investments in the Seed through Series B + phases. Members include Thornton Tomasetti, STO Building Group, Syska Hennessy Group, and SHoP Architects, all recognized industry leaders in their sectors who bring real-world deep background and experience in assessing, testing and accelerating technologies.

The investment will support growing sales activities and engineering needs as Enviro Power commercializes its SmartWatt Boiler -- a competitively priced condensing boiler designed to generate close-to-zero-cost electricity and to provide backup power, lowering electric bills for millions of buildings while improving grid resiliency and reducing carbon footprints.

"We are excited about having Syska Hennessy and AEC Angels as strategic investors supporting Enviro Power in a unique way. The SmartWatt Boiler is a high-efficiency heating system with a power plant inside. It is designed to revolutionize the multi-billion-dollar heating industry, enabling millions of home and business owners to generate their own electricity and enjoy backup power by just replacing their older heating systems. AEC's Angels' investment allows Enviro Power to leverage Syska's decades of HVAC design experience to bring to market a truly unique, economical, environmentally conscious, combined heat and power solution," said Dan Nadav, CEO of Enviro Power.

Robert Ioanna, senior principal at Syska Hennessy stated, "Syska is pleased to partner with Enviro Power and support the promotion of the SmartWatt Boiler. The core features of the SmartWatt Boiler align extremely well with our strengths in the engineering and design of HVAC systems. By helping to bring the SmartWatt Boiler to market, we are supporting our long-term commitment to fostering clean, highly efficient, low-emission heating appliances that serve a broad array of residential and commercial buildings."

About Enviro Power
Enviro Power develops and provides cutting-edge combined heat & power technologies. The company brings to market a disruptive heating technology. The SmartWatt Boiler technology platform is an enabler in integrating buildings into the power grid. A heating-system with a power plant inside, the SmartWatt Boiler enables millions of buildings to generate inexpensive electricity and enjoy backup power.

About AEC Angels
AEC Angels is a Seed through Series B+ investment platform that draws from the knowledge of active leaders in the architecture, engineering, and construction (AEC) industry to identify and support innovation. Our industry is full of creative problem-solvers, and we set out to harness and foster that creativity. Each of the companies in AEC Angels -- Thornton Tomasetti, STO Building Group, Syska Hennessy, and SHoP Architects -- has its own team of innovators who are continually developing and testing new technologies, adding another dimension to our platform.

Contact:
Grant G. McCullagh
grant.mccullagh@aec-angels.com

Michelle Galindez
mgalindez@syska.com

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SOURCE Syska Hennessy Group

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