Regulatory tracking technology company e-Mission Control has raised $3 million in funding from Nashville, Tennessee-based Skyview Ventures, a venture capital fund that specializes in clean technology and renewable energy companies.
The 2019 Sacramento startup helps companies manage and collect cash for Low Carbon Fuel Standard incentive credits in California and Oregon. Those credits are expanding to Washington and parts of Canada.
E-Mission Control CEO Todd Trauman “and his team have done a remarkable job of creating a SaaS solution that is manageable and profitable for companies with electric fleets along the West Coast,” said Skyview President Andrew Karetsky, in a news release. “As clean fuel programs roll out in other states and around the world, e-Mission Control will have the opportunity to greatly expand its services to become a leading global solutions and technology provider in the transportation arena.”
E-Mission Control was started as a service of Sacramento-based consulting firm Momentum, but it was spun out as a separate entity last year. Momentum provides fund development and grant project management for clean technology companies seeking public and private grants.
E-Mission Control’s clean fuel technology platform currently facilitates access and participation for hundreds of fleets and tens of thousands of pieces of equipment in both California and Oregon.
“As more and more states adopt clean fuel regulations, e-Mission Control’s technologies will be a great asset to companies of all sizes that want to access new revenue streams to buy down the total cost of ownership of electrification and advance their sustainability goals,” Trauman said in a news release.
The Low Carbon Fuel Standard incentive credits can be earned for owning a variety of electric equipment, such as haulers, carts, forklifts and electric vehicles, including electric refrigeration if it is displacing what would have otherwise been natural gas, gas, diesel or propane-powered refrigeration units on trucks, trains or containers. E-Mission Control developed software to do the reporting work.
Electric-vehicle charging equipment can also earn the owner of the charging equipment credits. E-Mission Control makes sure vehicles and equipment are eligible for Low Carbon Fuel Standard credits and it collects the serial numbers of the equipment and records how much the equipment is used to collect cash. The company keeps a small percentage of the credit, in return for doing all the reporting, recording, monitoring and data transmission to the state.
