With undersea cable linking Canada to Manhattan, Project Neptune could remake the transmission biz.
to provide a smart-grid communications network and AMI solution for all of CMP’s 620,000 residential, commercial, and industrial customers. The project is funded in part by a $96 million matching grant under the American Reinvestment and Recovery Act . It uses Trilliant’s SecureMesh communications network to interconnect meters and other smart-grid devices. Trilliant’s UnitySuite head-end software will manage the network. Trilliant partnered with General Electric and Landis+Gyr, which are providing electric meters, and IBM is providing Tivoli Netcool software integrated with UnitySuite applications for managing CMP’s smart-grid communications infrastructure.
Trilliant also closed $106 million in financing from Investor Growth Capital (the wholly-owned venture arm of Investor AB of Sweden), VantagePoint Venture Partners and two manufacturing companies, ABB and GE. The financing was coordinated by Deutsche Bank and includes a credit facility from a major venture credit provider, as well as continuing financial support from existing investors MissionPoint Capital Partners and Zouk Ventures.
Landis+Gyr and Current Technologies International GmbH have signed an agreement to deliver energy management solutions in Spain and Portugal. Landis+Gyr and Current joined to deliver standards-based smart-grid solutions by integrating Current’s Prime technology into the Landis+Gyr Gridstream product line. The companies say their offering will help European distribution infrastructure to handle intermittent renewables, increased load, and new forms of electricity generation along with new two-way communications and data management systems.
eMeter Corp. closed a $12.5 million round of private financing, led by longtime investors Sequoia Capital and Foundation Capital, plus new investor Northgate Capital. eMeter provides software solutions to enable smart-grid implementations. Over the past year, eMeter has hired enterprise software veteran Gary Bloom as CEO, partnered with such companies as IBM, Siemens, and SAP, and signed new U.S. utility customers including Bluebonnet Electric Cooperative, Burbank Water and Power, CenterPoint Energy, Silicon Valley Power, Westar Energy, Central Vermont Power and Wabash Energy.