Capital measures.Wellspring well·spring n. 1. The source of a stream or spring. 2. A source: a wellspring of ideas. wellspring Noun International Inc., a provider of wireless, point-of-use utility submeters for all building types, announced the initial closing of its "E" round, securing $3.3 million in operating capital Noun 1. operating capital - capital available for the operations of a firm (e.g. manufacturing or transportation) as distinct from financial transactions and long-term improvements capital, working capital - assets available for use in the production of further assets . Initial investors include Nth Power, Expansion Capital, Early Stage Ventures and North Atlantic Capital. Wellspring has also retained the investment banking firm of Sanders, Morris Harris to secure the remainder of the E round of financing for up to an additional $10 million. "Our investors continue to understand the tremendous market opportunity available to submetering and our product line in particular," said Wade Smith Wade Smith (born April 26, 1981 in Dallas, Texas) is an American football player who currently plays offensive tackle for the New York Jets. He was a four-year letterman and two-year starter at the University of Memphis. , Wellspring CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The compelling economics for our customers and the water conservation benefits from submetering are accelerating demand for our products." "We are pleased to continue our support of Wellspring and the launch of its upgraded technology and new shared revenue program," said Tim Woodward Tim Woodward (born 24 April 1953 in London, England) is a British actor and the son of actor Edward Woodward. He is probably best known for his roles in the 1970s BBC drama Wings and the 1990s soap opera ''Families' and Murder City. , managing director at Nth Power Technologies. "With this capital the company should really be able to expand its market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and be cash flow positive in 12 months." Wellspring's Aqura submetering system wirelessly monitors, records and displays consumption data within multifamily residential units. Consumption readings and leak diagnostics are collected and uploaded through a parallel system to Wellspring's data and billing center several times per day and made available on the Interact to both landlord and residents. |
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