Fazle Quazi
Boulder, CO (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Energy Conservation Technologies, Inc
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Startup
Location:
Boulder
Industry:
Energy
Year Founded:
2004
Number Employees:
1-10 people
Description:
Boulder, Colorado-based Energy Conservation Technologies, Inc. (ECT) manufactures and markets electronic ballasts for high-intensity gas discharge (HID) lamps for streetlights and other applications. ECT’s patented ballasts cut energy bills at least by 28% and reduce maintenance costs by one third.
Each and every day hundreds of millions HID lamps and inefficient magnetic ballasts are used worldwide to illuminate streets, highways, shopping malls, parking lots, and parking (URL removed)ed on the current and future energy economy policies in the USA, industry experts forecast that by 2015 the annual sales of eHID ballasts in North America alone will exceed $2 billion.
Based on our current sales activities, commitments, and future market growth, we conservatively project the following revenues to be less than 2% of short and medium-term market share: $1.6 million in 2009, $11.4 million in 2010, and $45.5 million in 2011.
ECT is seeking $500,000 to fund its manufacturing and marketing as follows: 1) manufacturing equipment purchases ~ 10%, 2) electronic components purchases ~ 20%, and, 3) working capital ~ 70%.
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