Smart Energy News

Boulder, Colo. — Tendril, a privately held provider of energy management technology for electric utilities and their customers, has raised $13.7 million in convertible debt, according to a new filing by the company with the Securities and Exchange Commission.

Founded in 2008, Tendril offers a platform that includes energy demand response and efficiency applications, offering insight into consumer energy decisions and allowing utilities to balance demand, mitigate peaks in real time and minimize operational costs.

In 2010, the company acquired GroundedPower, a privately held firm founded by a small team of experts in the psychological and behavioral processes that people use to interact with technology. Its technology combines real-time energy monitoring with a suite of consumer engagement and behavioral change tools.

Tendril raised $23 million in its fourth round of venture capital in 2010. Investors in the company include VantagePoint Venture Partners, Good Energies, RRE Ventures, TIAA-CREF, and GE.

Image credit: Tendril

Tendril’s new SEC filing

Tendril website

Toronto — Smart Energy Instruments (SEI), a privately held, Toronto-based developer of smart grid sensors for utilities, has raised $1.5 million in a round of venture capital that included participation from VentureLink Innovation Fund and the Ontario Emerging Technology Fund (OETF).

Founded in 2004, SEI develops measurement technologies that improve grid reliability and efficiency and accelerate the shift to renewable energy sources, according to the company.

The company’s devices employ digital signal processing, network communications and integrated circuits that provide real-time measurements, giving electric utilities and system operators the ability to monitor, understand, control and better plan electric power grids.

OETF is an investment fund established by the Province of Ontario and managed and operated by the Ontario Capital Growth Corp. It is a $250-million fund that co-invests alongside qualified investors in private Ontario companies.

VentureLink Innovation Fund has about $150 million under management. It makes debt and equity investments in Canadian businesses.

Photo credit: SEI

Smart Energy Instruments website

VentureLink Innovation Fund website

Burlington, Vt. — Sen. Bernie Sanders and Vermont Gov. Peter Shumlin have announced a $15 million, three-year partnership with Sandia National Laboratory to establish a joint Center for Energy Transformation and Innovation, which will be housed at the University of Vermont (UVM).

The partnership will focus on efforts to make the smart grid work in Vermont, and will share its successes nationally to help develop the U.S. energy infrastructure, Gov. Shumlin said in an announcement.

In addition to UVM, other academic institutions participating in the project include Vermont Tech, Vermont State Colleges, Norwich University and Vermont Law School.

Participating utilities in the center include Green Mountain Power, Central Vermont Public Service, Vermont Electric Power Co., the Burlington Electric Department, Vermont Electric Cooperative and the Washington Electric Cooperative.

http://www.uvm.edu

http://energy.sandia.gov/

Boulder, Colo. – Power Tagging Technologies, a privately held developer of technology that provides utilities a real-time schematic map of the electrical grid, has raised $300,000 in convertible debt, with plans to eventually raise a total of $1.5 million in the deal, according to a new filing with the Securities and Exchange Commission.

Founded in 2007, Power Tagging has developed technology for tagging or “fingerprinting” energy on the power grid. The tags have metadata associated with them, creating a “purpose-built network” that operates over the power grid, according to the company.

In 2009, Power Tagging signed an agreement with Lockheed Martin to develop enhanced distribution management and smart grid command and control systems.

Power Tagging has been awarded an additional grant by the National Science Foundation (NSF) to support development of the company’s grid components, including development of its database that provides the intelligence hub for all its deployments.

The company is also expanding its development of grid intelligence devices that incorporate digital signal processing, amplification and high voltage analog circuit design.

Photo credit: Power Tagging Technologies

Power Tagging website

Power Tagging’s SEC filing

Redwood City, Calif. — Silver Spring Networks, a privately held provider of smart grid technology to electric utilities, has raised $24 million in convertible debt, according to a new filing by the company with the Securities and Exchange Commission.

Founded in 2002, Silver Spring filed in July 2011 for its initial public offering of stock to raise an estimated $150 million. The company is still awaiting to go public.

Silver Spring’s technology is based on open, Internet Protocol (IP) standards, allowing continuous, two-way communication between the utility and devices on the grid.

The company has numerous deployments with large utilities in the U.S. and abroad, including Florida Power & Light, Pacific Gas & Electric, Pepco Holdings, Jemena Electricity Networks, and United Energy Distribution, among others.

In 2009, Silver Spring raised $100 million in a round of venture capital that included participation from Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers and Northgate Capital.

In its new SEC filing, Silver Spring indicated it plans to raise an additional $6 million of debt, bringing the deal’s total to $30 million.

Image credit: Silver Spring Networks

Silver Spring’s SEC filing

Silver Spring Networks website