PhoenixESG Receives Venture Capital Investment

LOS ANGELES, Dec. 9 /PRNewswire/ — PhoenixESG
(http://www.phoenixesg.com), a firm that provides energy management,
monitoring, control systems and services, announced an anchor investment from
Los Angeles-based Momentum Venture Management (http://www.mvmpartners.com).
The financing will support PhoenixESG’s continued expansion and strengthen the
company’s sales and marketing efforts for their innovative energy-management
technology.

Matt Ridenour, Managing Partner of Momentum Venture Management, has been
named CEO of PhoenixESG concurrent with the financing. Mr. Ridenour assumed
the position of CEO on November 1, 2008.

“Momentum believes PhoenixESG has the preeminent platform to help large
enterprises, public and private, to dramatically reduce energy costs while
improving their ability to make long term plans for sustainability,” said Mr.
Ridenour. “We feel that the timing is ideal to bring cost saving energy
management technology to businesses and universities which have, and will
continue to see, dramatic energy cost increases.”

Fernando Ramirez, Co-Founder of PhoenixESG concurs, “Our clients can
expect to be up and running within 60 days and in most cases they will pay for
our systems in the first 8-12 months with a strong recurring ROI thereafter.
Equally important, we help our clients report to their constituents about what
they are doing to build a more sustainable and environmentally friendly
business.”

“In addition to the development of our systems and services, we were
methodical in our search for the right CEO for our company,” said Lisa Varga,
Co-Founder of PhoenixESG. “Matt’s extensive senior management experience and
skill with VC-backed technology companies is a great compliment to our team of
industry experts. Together, we are well positioned to aggressively grow the
business and scale our operations very quickly.”

About PhoenixESG

PhoenixESG provides businesses with energy conservation management,
monitoring, control systems and services. Information about PhoenixESG can
also be found at http://www.phoenixesg.com. PhoenixESG’s proprietary
technology platform is backwards compatible with hundreds of legacy energy
management systems and is quickly deployed with almost immediate payback and
high continuing ROI. The company currently manages over $1B in annual energy
spend on behalf of Fortune 1000 companies and large universities.

About Momentum Venture Management (http://www.mvmpartners.com)

Momentum Venture Management is a Los Angeles based firm that provides
funding and senior management to high growth, early stage technology
companies. Information about Momentum can also be found at
http://www.mvmpartners.com.


Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Matt Ridenour
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=84343

[Via http://www.prnewswire.com]

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