Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

60Hertz raises seed funding from Impact Investor Factor[e] Ventures

January 7, 2020 GMT

ANCHORAGE, Alaska and FORT COLLINS, Colo., Jan. 7, 2020 /PRNewswire/ -- Impact investor Factor[e] Ventures announces it closed a deal with 60Hertz, the first Maintenance Management Software designed specifically for people managing remote energy assets such as microgrids, on December 13th, 2019.The startup, which launched in 2017, has developed a cloud-based application to train and assist operators who maintain expensive, critical assets in isolated locations. An intuitive interface deftly suits the needs of remote field workers who range from skilled technicians to low or no literacy community members. The 60Hertz platform connects remote operators to a peer network, provides in-app trainings for “upskilling” on the job, and assists with change management. On the backend, the platform allows remote asset owners or operators to keep track of maintenance through an administrative web portal.

The platform first piloted in 15 rural villages in Alaska last year and now is commercially deployed in 28 locations across the state. Prospects globally are accelerating, with strong interest from the Canadian Arctic, the Philippines, and a first customer in Colombia through USAID.

“Better maintenance is one of the most critical -- but overlooked -- ways to address energy poverty,” commented 60Hertz CEO, Piper Wilder. “And 60Hertz and Factor[e] are perfectly aligned in our interest to serve the global microgrid market and improve the lives of the rural and indigenous people who are important stakeholders in this industry.”

Dr. Morgan DeFoort, Managing Principal at Factor[e] Ventures, commented, “60Hertz complements our portfolio of technology companies focused on reducing the cost of not only building microgrids but operating and maintaining them as well. We believe the lessons learned from deploying the platform on remote sites in Alaska can inform the approach to bring the technology to the emerging markets.”

About 60Hertz
60Hertz is maintenance and training software that helps operators manage critical, remote, energy assets. The cloud-based app provides checklists, training videos, a secure and efficient way to transmit documents, and a strong peer-group network. For more information, https://www.60hertzenergy.com/

About Factor[e] Ventures
Factor[e] is a global venture development firm with a mission to improve lives in the developing world through increased access to sustainable energy and related services. Factor[e] finds, validates, funds, de-risks, and grows a rich pipeline of social ventures that aim to solve profound global problems, and supports early stage entrepreneurs through a unique blend of risk capital and world-class technical resources. For more information, http://www.factore.com.

Media contact:

Tonya James - tonya.james@60hertzenergy.com | 907-230-3110

View original content: http://www.prnewswire.com/news-releases/60hertz-raises-seed-funding-from-impact-investor-factore-ventures-300981087.html

SOURCE Factor[e] Ventures