3M invests in Charleston-based energy company

Energy Inc., headquartered in Charleston, has received an investment from 3M through its 3M New Ventures arm.

Energy Inc. manufactures a device that measures energy use — called The Energy Detective — that was invented by company president Dolph Rodenberg. Terms of the 3M investment are not being released.

“3M’s participation means that we have access to one of the most innovative research resources in the world, and also to a powerful international distribution network,” Rodenberg said.

3M announced its investment on Friday, and the two companies had previously been working together on research and development efforts. 3M New Ventures, based in Germany, identifies and invests in innovative companies and technologies.

“We are investing in Energy Inc. for its high speed of innovation and entrepreneurial approach to serving customers in this fast-growing energy monitoring market,” said Stefan Gabriel, president of 3M New Ventures.

Through the investment, Energy Inc. and 3M will be able to capitalize on commercialization potential and opportunities for complementary products.

Energy Inc., which was incorporated in 2001, first launched The Energy Detective in 2005. It recently released its second model of the system, which allows electricity use to be monitored remotely through the Internet or telephone applications.

Energy Inc. is currently working on its next product, for use in commercial electrical systems.