Wednesday, March 24, 2010

Cisco Invests in Grid Net for SmartHomes

Cisco has made an equity investment in Grid Net, a San Francisco start-up developing Smart Grid and Smart Home software platforms for utilities, their partners and their customers.

The Grid Net platform is designed to integrate substation automation, distribution automation, smart meters, demand response, load management, and home automation capabilities to increase grid reliability, energy efficiency, renewable energy use, and customer satisfaction while reducing operating costs.

Grid Net said it intends to use the proceeds from this investment to promote its real-time, all-IP, secure, reliable, extensible, end-to-end Smart Grid network infrastructure solutions. In addition, the investment highlights the two companies' shared vision of creating an energy infrastructure for the 21st century that is built on open standards and helps utilities scale for more effective, efficient electricity transmission and distribution.

Grid Net's other investors include Braemar Energy Ventures, Catamount Ventures, GE Energy Financial Services and Intel Capital.

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