EPS files for IPO

Costa Mesa, Calif.-based Energy and Power Solutions Inc., (a.k.a. EPS Corp.) plans to go public and has filed its registration statement with the Securities and Exchange Commission, the company says.

The registration statement has yet to take effect and the company did not respond to requests for a copy of the S-1 filing.

The startup has raised $50 million from venture capitalists in two rounds of financing, records show.

EPS Corp. raised $20 million in its Series A during December 2007 from NGEN Partners and Robeco, an investing subsidiary of Netherlands-based Rabobank Group. Windstone Capital Partners acted as a placement agent for the round, records show.

The company raised $20 million in a Series B round in April 2009 from its existing investors and new investor Altria Group. “In this difficult economic environment to say that fund-raising is a challenge is an understatement,” EPS Corp. CEO Jay Zoellner said at the time.

The startup’s service is designed to help reduce energy usage by large industries. It collects data from energy meters and other control systems and analyzes it for opportunities to save energy.

“The carbon and capital constrained economy will require competitive companies to closely watch how they use energy and monetize their carbon emission reductions,” Zoellner said at the time of the last venture financing. The company’s products and services help companies become “energy intelligent,” he said.

The company also manages co-generation power facilities for manufacturers looking to green their electricity sources. —Alexander Haislip