|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.
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Oct. 21, 2016 04:00 PM EDT Reads: 2,670
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and...
Oct. 21, 2016 03:54 PM EDT
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining senso...
Oct. 21, 2016 03:31 PM EDT
[session] Personalization in the Age of IoT By @Adobe | @ThingsExpo #IoT #Wearables #DigitalTransformation
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 21, 2016 03:15 PM EDT Reads: 253
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 21, 2016 03:00 PM EDT Reads: 11,142
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Oct. 21, 2016 03:00 PM EDT Reads: 4,353
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 21, 2016 02:30 PM EDT Reads: 1,398
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
Oct. 21, 2016 02:15 PM EDT Reads: 2,196
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 21, 2016 02:00 PM EDT Reads: 629
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Oct. 21, 2016 01:45 PM EDT Reads: 1,455
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 21, 2016 01:00 PM EDT Reads: 925
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 21, 2016 01:00 PM EDT Reads: 906
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Oct. 21, 2016 12:45 PM EDT Reads: 1,329
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Oct. 21, 2016 12:15 PM EDT Reads: 870
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 21, 2016 12:00 PM EDT Reads: 684
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 21, 2016 12:00 PM EDT Reads: 8,060
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 21, 2016 10:30 AM EDT Reads: 1,232
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
Oct. 21, 2016 10:15 AM EDT Reads: 1,383
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
Oct. 21, 2016 09:15 AM EDT Reads: 286
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 21, 2016 08:45 AM EDT Reads: 1,375