|By Marketwired .||
|January 27, 2014 07:00 AM EST||
REDWOOD SHORES, CA -- (Marketwired) -- 01/27/14 -- AutoGrid Systems, a leader in Big Data analytics and cloud computing solutions for the energy industry, announced today that it has raised $12.75 million in a Series C financing led by a consortium of strategic investors to expand its operations and bring its breakthrough Big Data analytics and predictive control technology to energy companies, utilities, and electricity users worldwide. The consortium includes the large European utility E.ON as well as existing investors Foundation Capital and Voyager Capital, among others.
The new round of funding will support AutoGrid's rapid customer growth for its Energy Data Platform (EDP) as well as expand the suite of company developed and third party applications available on EDP for use by the energy industry.
"E.ON has an ambitious objective to make energy cleaner and better wherever we operate," said Dr. Urban Keussen, Senior Vice President of Technology and Innovation at E.ON. "We are looking forward to deploying AutoGrid's market leading big data analytics and cloud computing technologies across several of our businesses."
E.ON is one of the world's largest utility holding companies, serving over 26 million customers in Europe, Russia, North America, Brazil and Turkey with annual revenues exceeding 130 billion EUR.
"In a short span of time, AutoGrid has established itself as a leader in Big Data analytics for the energy industry," said Dan Ahn, managing director at Voyager Capital. "We are very proud to have been working with this outstanding team since the very beginning. Big Data driven predictive analytics and automated control of complex industrial processes is one of the largest economic opportunities of our time, and AutoGrid's Energy Data Platform is well positioned to play a defining role in this sector."
"Foundation Capital has been fortunate to back several successful smart grid pioneers -- from EnerNOC to eMeter and Silver Spring Networks -- and we're thrilled to continue to build out the next wave of innovation with our investment in the outstanding team and technology at AutoGrid," said Steve Vassallo, general partner at Foundation Capital.
AutoGrid's Energy Data Platform is a highly scalable and secure big data analytics platform that analyzes the complex interrelationships within the energy supply chain through the petabytes of structured and unstructured data coming from smart meters, building management systems, M2M systems and other assets. The forecasts generated by EDP create a comprehensive portrait of grid activity that let generators, utilities, energy service providers and electricity users to predict and manage power distribution and consumption in a precise, secure manner.
Predictive control applications built on EDP allow power providers to curb peak power, balance supply and demand in real-time, detect theft or identify outages by utilizing data spread across different business units and data silos. Based on open standards such as OpenADR 2.0 b, Smart Energy Profile 2.0, and through an extensive library of interfaces to existing AMI systems, behind-the-meter devices, building management systems, grid sensors and weather services, EDP is able to bring data together from millions of devices from over 100 different vendors and process it in real-time.
AutoGrid's Demand Response Optimization and Management System (DROMS), a demand response management application based on EDP, costs up to 90 percent less to implement than conventional demand response management systems, supports the entire spectrum of behavioral and automated demand response programs in a unified manner, and yields up to 30 percent more power per demand response event by utilizing EDP's advanced forecasting and customer analytics capabilities.
The company's breakthrough technology enjoys substantial momentum in the marketplace with several significant customer wins:
- City of Palo Alto Utilities implemented a demand response program for commercial customers in under 30 days. Ordinary demand response systems would have taken months to implement. The program saves an average of 1.2 megawatts per event.
- Austin Energy created a "Bring Your Own Thermostat" demand response program with AutoGrid that linked to thermostats consumers bought at retail. The system has cut HVAC loads by up to 33% in subject homes. EVs also can link to the system so drivers can make money by delaying charging.
- Silver Spring Networks, a leader in smart meter technologies, utilizes AutoGrid's Energy Data Platform within their UtilityIQ Demand Optimizer product.
- Oklahoma Gas and Electric employs AutoGrid's Energy Data Platform to reach over 70,000 customers in one of the world's largest two-way communicating thermostat-based residential demand response programs.
- NTT DATA, one of the largest IT service providers in the world, utilizes Energy Data Platform to build new applications in the energy management space.
- Schneider Electric, a global smart grid leader, is utilizing Energy Data Platform for providing demand response functionality within the Wiser home management system.
AutoGrid is also collaborating with industry leaders such SAP, Big Data Energy Services, Lawrence Berkeley National Laboratory, Department of Energy, and the California Energy Commission, among others, on new applications and opportunities for EDP and DROMS.
"We are proud to receive a strategic investment from E.ON, one of the most respected global leaders in the energy world," said Amit Narayan, founder and CEO of AutoGrid Systems. "This investment will help accelerate our mission of turning Big Data into the cheapest, cleanest and most reliable source of power."
The company will also discuss a new strategic initiative at DistribuTECH taking place in San Antonio, Texas January 28 through 30, 2014.
About AutoGrid Systems
AutoGrid is dedicated to bringing the power of Big Data, predictive analytics and Internet scale computational techniques to the production and consumption of electricity. Serving utilities of all sizes, grid operators, electricity retailers, ESCO services companies, and end-users, AutoGrid develops and markets services that both help lower costs and improve reliability of the electricity supply chain. For more information, visit www.auto-grid.com.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
May. 22, 2015 04:00 PM EDT Reads: 2,806
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, will discus...
May. 22, 2015 02:00 PM EDT Reads: 1,307
Organizations today are confounded by an avalanche of data that needs to be processed and managed on a daily basis. Through relevant use cases and a thought-provoking dialogue on an organization’s ‘Data to Decisions’ journey, Andrew Clyne, Chief Data Officer at CenturyLink Cognilytics, will reveal in his session at Big Data Expo how your organization can monetize data as a strategic asset. State-of-the-art Big Data and Advanced Analytics capabilities provided as a managed service can enable da...
May. 22, 2015 02:00 PM EDT Reads: 1,460
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
May. 22, 2015 02:00 PM EDT Reads: 4,532
Move from reactive to proactive cloud management in a heterogeneous cloud infrastructure. In his session at 16th Cloud Expo, Manoj Khabe, Innovative Solution-Focused Transformation Leader at Vicom Computer Services, Inc., will show how to replace a help desk-centric approach with an ITIL-based service model and service-centric CMDB that’s tightly integrated with an event and incident management platform. Learn how to expand the scope of operations management to service management. He will al...
May. 22, 2015 01:00 PM EDT Reads: 1,105
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data...
May. 22, 2015 12:00 PM EDT Reads: 1,573
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, will discuss IoE and the enormous opportunities it provides to public and private firms alike. She will shar...
May. 22, 2015 12:00 PM EDT Reads: 1,722
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager – Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, will review next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discuss how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Speaker Bios Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has b...
May. 22, 2015 11:45 AM EDT Reads: 703
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
May. 22, 2015 11:30 AM EDT Reads: 2,248
Software Defined Storage provides many benefits for customers including agility, flexibility, faster adoption of new technology and cost effectiveness. However, for IT organizations it can be challenging and complex to build your Enterprise Grade Storage from software. In his session at Cloud Expo, Paul Turner, CMO at Cloudian, looked at the new Original Design Manufacturer (ODM) market and how it is changing the storage world. Now Software Defined Storage companies can build Enterprise grade ...
May. 22, 2015 11:00 AM EDT Reads: 4,333
SYS-CON Events announced today that EnterpriseDB (EDB), the leading worldwide provider of enterprise-class Postgres products and database compatibility solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. EDB is the largest provider of Postgres software and services that provides enterprise-class performance and scalability and the open source freedom to divert budget from more costly traditiona...
May. 22, 2015 11:00 AM EDT Reads: 1,326
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
May. 22, 2015 11:00 AM EDT Reads: 6,047
Why does developer experience matters, what makes for a great developer experience and what is the relationship between developer experience and the broader field of user experience? Software developers are gaining more influence over the purchase decisions of technologies with which they must build on and with which they must integrate. For example, the success of Amazon Web Services, Heroku and MongoDB has been driven primarily by individual software developers choosing to use these tools, ra...
May. 22, 2015 11:00 AM EDT Reads: 1,619
Gartner predicts that the bulk of new IT spending by 2016 will be for cloud platforms and applications and that nearly half of large enterprises will have cloud deployments by the end of 2017. The benefits of the cloud may be clear for applications that can tolerate brief periods of downtime, but for critical applications like SQL Server, Oracle and SAP, companies need a strategy for HA and DR protection. While traditional SAN-based clusters are not possible in these environments, SANless cluste...
May. 22, 2015 10:15 AM EDT Reads: 1,269
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
May. 22, 2015 10:00 AM EDT Reads: 3,830
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...
May. 22, 2015 10:00 AM EDT Reads: 708
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years u...
May. 22, 2015 10:00 AM EDT Reads: 5,434
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
May. 22, 2015 10:00 AM EDT Reads: 1,708
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize sup...
May. 22, 2015 10:00 AM EDT Reads: 5,743
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
May. 22, 2015 09:45 AM EDT Reads: 799