Telkonet Inc. recently completed a large-scale renovation and moved all of its 55 employees into its headquarters office at 20800 Swenson Drive, Suite 175 in Waukesha.
Telkonet operates an intelligent automation system that allows commercial building owners to reduce their energy usage. The company closed an office with about 25 employees that worked out of space at 10200 W. Innovation Drive, Suite 300 in Wauwatosa, and those workers moved into the headquarters, an employee said. The renovation was completed by Schroeder Solutions, which has posted details and photos on its site.
All of Telkonet’s personnel and equipment were moved, and its manufacturing, shipping facilities and activities were all shifted to the new space in July, according to the company’s SEC filings. It also moved its warehouse to 1501 Paramount Drive, Suite E in Waukesha.
Telkonet made the move as it separated from its EthoStream business, which it sold in March for $12.8 million.
“With the completion of the sales transaction at the very end of Q1, it has consumed the entirety of the second quarter to accomplish the corporate activities involved in splitting our operations,” Telkonet chief executive officer Jason Tienor said in a recent earnings call. “While this transaction has created quite a bit of work during the quarter, the benefits of the transaction outweigh the demand that’s placed on our resources.”
Telkonet has been able to dramatically reduce its debt and reposition its business for future growth, he said. The company has accelerated new product development and targeted its business development efforts. It recently hosted a Partner Week at its new headquarters to train resellers, vendors and staff on its EcoSmart intelligent automation platform.
“…we’ve gone through an extensive transformation to date and are emerging a dramatically changed organization,” Tienor said. Financially poised to execute the wide variety of business cultivated over the past several years across our target verticals. With questions of inventory, bonding and financing the longer an issue, we’re now preparing and eyeing the future of untapped grow.”