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NAPLES — Tamiami Angel Fund II invested $250,000 in eNow, a company that develops solar energy systems for commercial and public transportation vehicles.
“eNow's unique energy management systems is one of the most advanced systems available today,” says Bud Stoddard, a Tamiami Angel Fund II member and eNow board member, in a statement. “It's not only a great sector investment for T2 but also an impact opportunity to transform the transportation industry.”
Tamiami Angel Fund I & II are Naples-based funds that invest in promising early-stage through expansion-stage commercial ventures located in the U.S. This is Tamiami Angel Fund II's ninth portfolio company.
In operational tests, eNow says the no-idle climate control system has shown an annual savings of $8,000 to $12,000. “Fuel costs are one of the largest expenses for fleet operators and industry participants,” says Jeff Flath, founder and president of eNow, based in Warwick, R.I, in a statement.
“Truckers idle engines in order to keep the engine block warm, to heat and cool the cabin and to operate lift gates,” says Flath, in a statement. “Using the engine for these types of functions consumes almost a gallon of diesel fuel per hour and constitutes nearly 8% of total fuel use.”
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