Amadeus leads $5.5M investment in greenhouse gas monitoring specialist AMEE

Amadeus Capital Partners has led a $5.5 million second round financing of AMEE, a UK- and US-based company, which provides software tools to enable organisations to calculate and monitor their greenhouse gas emissions.  

Existing investors, including O’Reilly AlphaTech Ventures and Union Square Ventures, also participated in the financing. The funding will be used to expand AMEE’s geographic reach and further develop its scientific platform.

The market for carbon accounting is expected to reach $4 billion by 2017, driven by increasing regulatory and consumer pressure to combat climate change.   

AMEE’s platform is used by customers including vendors of carbon accounting and business intelligence software, governments, multi-nationals and small and medium enterprises that need to measure emissions. Users include the business intelligence vendor SAS, and the UK Department of Energy and Climate Change.

At present, a wide range of standards and hundreds of thousands of individual emission factors must be consulted to determine the carbon footprint of particular activities and products. AMEE has codified the major greenhouse gas standards and linked these to with computational models and emission factors, in a web-based Application Programming Interface.  

AMEE’s search engine also enables companies to check greenhouse gas standards and emission factors, while tracking provenance and providing a full audit trail for carbon accounting.  

Pat Burtis, Investment Manager at Amadeus, who joins the AMEE Board, says, “AMEE has recognised a clear and present need in the carbon accounting market and moved quickly to fill the gap.”

AMEE joins Amadeus’ growing portfolio of cleantech companies, which includes GreenRoad, Nujira and Edgeware.  

Gavin Starks, CEO of AMEE, said, “Amadeus has demonstrated a deep understanding of our business and its strategic vision. AMEE addresses core needs of trust, accuracy and auditability in this market, and this funding will catalyse our deployment.”