Last year, smart grid technology burst onto the renewable energy scene, with projections it would provide investment opportunities more lucrative than the Silicon Valley bubble of the 1990s.
Despite the chatter, 2009 did not see copious amounts of venture capital flow into the smart grid. Yet, 2010 has already proved to be different. Within the first three weeks of the new year there have already been six significant smart grid investments.
- Ecobee - Raised $6.4 million from Ontario Emerging Technologies Fund, JLA Ventures and Tech Capital Partners. The funds will be used for programmable thermostats for residential and commercial applications.
- Ecofactor - Raised $2.4 million in capital. The investment was led by Claremont Creek Ventures.
- Ember - Raised $5 million from Wellington Financial. The funds will be used to generate Home Area Networks.
- PassivSystems - Recently received an undisclosed amount of funding from WHEB Ventures.
- Tantalus Systems - Raised $14 million led by Redpoint Ventures. The funds will be used on Tantalus' two-way, real-time smart grid data communication technology.
- Verdiem - $4.7 million from Kleiner Perkins and Microsoft.
Read the full story at Greentech Media: Smart Grid VC Investment Surge?
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
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