The Center for Innovative Technology (CIT) says that its Commonwealth Energy Fund (CEF) has invested $200,000 as part of a larger round in McLean, Va.-based Sunnovations Inc., a clean technology company specializing in solar hot water (SHW) systems for the U.S. and international residential markets.
Sunnovations' SHW system is based on its patented ‘geyser pump,’ which uses no electricity and has no moving parts, displacing electric pumps, controllers and sensors. According to Sunnovations, removal of these active components found in conventional SHW system cuts costs, simplifies installation and provides greater reliability than existing systems on the market.
The company also offers a SHW monitoring system that tracks actual energy production and homeowner savings from their system.
‘Sunnovations is working to make SHW a mass-market technology in the U.S. and aggressively pursuing the $12 billion global solar heating market with our innovative technology,’ says CEO Matt Carlson.