Smart Energy News

Liberty Lake, Wash. — Itron, a major provider of products and services for the energy and water markets, has signed an agreement to acquire SmartSynch, a privately held provider of smart grid technologies, for $100 million.

Founded in 1998, SmartSynch provides IP-communicating smart grid products that leverage cellular networks for the utility industry. Its technology allows utilities the ability to communicate and interact with any device on the grid.

SmartSynch’s products include smart meters and grid routers that support various software solutions, as well as professional services for utilities and their customers.

The company’s technology is also used by clean-tech companies, universities and government agencies for remote communications and control functionality for products ranging from solar panels to plug-in hybrid vehicles. SmartSynch’s customers include around 130 large North American utilities.

Investors in SmartSynch include Credit Suisse, Farm Bureau Life Insurance Co., Battelle Ventures, Beacon Group, Endeavor Capital Management, GulfSouth Capital, Innovation Valley Partners, Kinetic Ventures, OPG Ventures and Siemens Venture Capital.

Image credit: SmartSynch

SmartSynch website

Itron website

Providence, R.I. — UtiliData, a supplier of voltage optimization products for the electric grid, announced it has raised a round of venture capital led by Braemar Energy Ventures.

UtiliData said the financing will be used to accelerate the advancement and expansion of its product, which allows utilities and large industrial companies to attain energy efficiency gains as well as improved reliability.

UtiliData also announced it is relocating from Spokane, Wash., to Providence.

Image credit: UtiliData

UtiliData website

Braemer Energy Ventures website

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/