Warren Buffett bets 22.5 million on reducing energy consumption

by bold-lichterman

Warren Buffett is interested in reducing energy consumption. It has just granted funding of $ 22.5 million to the Israeli start-up eVolution Networks via its investment funds Berkshire Hathaway and GE. The breakdown of the investment amount has not been made public.

Founded in 2011 by Idan Cohen and Roy Morad, eVolution Networks markets products for reducing the energy consumption of high-tech equipment. It employs around fifty people in its offices in Ramat-Gan, in the suburbs of Tel Aviv. She had already raised $ 4 million from the Breslau Capital Partners fund.

The company claims it can reduce consumption of 35%. The company has already convinced the Spanish telecom operator Telefónica last November. Thanks to these funds, it intends to expand its activities internationally and is now targeting data storage centers (data centers).

Analyze activity to reduce consumption

The reduction of energy consumption by smartphones and data centers is a central question, when we know that an iPhone consumes approximately 361 kWh per year after Max Luke’s calculations, from the Canadian institute Breakthrough. For now, most terminals do not regulate their power consumption and are at full power regardless of the time of day or night. Instead, eVolution Networks technology analyzes activity to regulate energy consumption.

Overall, the telecommunications industry is responsible for 3% of consumption world of energy. For more details, here is a graph from the study “The Cloud Begins With Coal” by the CEO of the Digital Power Group, Mark Mills.

evolution-conso-energie

Headquarters: Ramat-Gan (Israel)

Creation date: 2011

Founders: Idan Cohen and Roy Morad

Staff: 50 people

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