PaceControls today announced a record year of revenues, and a strong 2010 backlog already on the books for its energy efficiency and smart grid product line.  ”Our revenues were up over 50% over strong 2008 results, even during the economic downturn — maybe it makes people even more energy cost-conscious”, remarked Dr. Steve Costantino, PaceControls’ Chief Operating Officer.  Under Pennsylvania’s new energy efficiency incentive programs, PaceControls product installations are eligible for rebate payments that can often cover 25%-50% of total project cost, and many projects can be completed in a day by a qualified HVAC technician.

The company also announced that it has commenced a capital raise, to build its national and international distribution channels and accelerate its product development activities.  PaceControls’ President, Tom Mills, noted that the company is already in talks with a number of venture firms with positions in clean technology.  “There are over 75 million installation targets for our products in the U.S. alone, so there’s plenty of room to grow”, he said.  The company expects to complete its capital round in the first quarter of 2010.

About PaceControls
PaceControls, an ENERGY STAR Partner, develops and manufactures eco-smart, easy-to-install, energy-saving HVACR solutions.  Designed for a wide variety of commercial, industrial and residential heating, cooling and refrigeration equipment, PaceControls technology is a highly flexible retrofit solution.  The patented technology establishes optimal run times for compressors and burner units, “pacing” the equipment’s consumption of electricity, natural gas, fuel oil or propane saving 10 to 20 percent or more on energy bills.  A typical payback for a project ranges from just one to three years.  The technology — designed and refined with significant input from the HVACR maintenance industry and equipment manufacturers — complies with all accepted industry standards for control equipment.  PaceControls products have proven successful in thousands of installations, including hundreds installed by electric utilities under demand side management programs.