Archive: Business & Technology

"This investment is the springboard we’ve been waiting for," said company president Greg Thomas, who has helped establish the concept of improving the energy efficiency and overall performance of buildings. Thomas consults with housing agencies and utilities nationwide about building performance – which encompasses comfort, safety, and health as well as the energy efficiency of existing structures. This year, Performance Systems Development (PSD) has begun to work with builders and managers of multi-unit dwellings and recently expanded into new markets supporting energy efficiency programs in Maine and Pennsylvania.

"We see a tremendous opportunity for companies like Performance Systems, who are at the forefront of developing tools and services for retrofitting existing residential and commercial buildings. This is one of the most overlooked and yet most important areas in the green energy movement," said Laurel Ridge partner John Illuzzi.

Performance Systems has two divisions, one that provides analytical software and consulting tools, and one that does hands-on work with homeowners and building managers. Thomas said that both sides of the business have been hard-pressed to keep up with customer demand, whether from a local homeowner or an urban housing agency. The merger will help the company find a new equilibrium and expand to meet current and future demands in a growth industry. The investors will also serve as strategic advisors in this rapidly expanding market, Thomas added.

"With a significant investment in a whole house project, it’s possible to save as much as 90 percent of energy use," said Alwyn John, who recently joined Performance Systems as manager of the residential contracting program. John has an information technology background supporting Wall Street firms and most recently worked for a weatherization firm, where he began to realize the profound significance of energy conservation.

"Our research and hands-on services are all about seeking this kind of deep savings. We want to help homeowners and building managers figure out the best way to save money as well as reduce their carbon footprint," said Thomas.

PSD created a software program that helps contractors show consumers the impact of energy conservation measures and provides models to help them decide how to invest, what the savings will be, and how the savings translate to a more sustainable home and future. This software is now used by New York State Energy Research and Development Authority (NYSERDA), as well as agencies in several other states, for their residential and multi-family energy efficiency programs.

The company has 34 employees and expects to add more jobs with this investment, starting with its management team. A search is now on for a Chief Financial Officer. "We’re moving fast," said Thomas, "but we don’t want to lose the small-company feeling. People here not only work well together, they believe in what we’re doing. We are a green business and that’s important to everyone here."