|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.
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...
Sep. 2, 2015 10:30 AM EDT Reads: 1,989
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Sep. 2, 2015 10:15 AM EDT Reads: 1,603
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Sep. 2, 2015 10:00 AM EDT Reads: 1,551
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Sep. 2, 2015 10:00 AM EDT Reads: 194
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Sep. 2, 2015 09:45 AM EDT Reads: 1,618
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
Sep. 2, 2015 09:45 AM EDT Reads: 557
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 2, 2015 09:45 AM EDT
Introducing Containers & Microservices Bootcamp at @CloudExpo Silicon Valley | #Containers #Microservices
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Sep. 2, 2015 09:30 AM EDT Reads: 376
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Sep. 2, 2015 09:00 AM EDT
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...
Sep. 2, 2015 08:45 AM EDT
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Sep. 2, 2015 08:30 AM EDT Reads: 306
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Sep. 2, 2015 07:30 AM EDT Reads: 613
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Sep. 2, 2015 06:45 AM EDT Reads: 339
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Sep. 2, 2015 02:30 AM EDT Reads: 455
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Sep. 1, 2015 11:45 PM EDT Reads: 405
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Sep. 1, 2015 04:00 PM EDT Reads: 202
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 1, 2015 03:00 PM EDT Reads: 450
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 1, 2015 12:30 PM EDT Reads: 927
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Sep. 1, 2015 12:15 PM EDT Reads: 255
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Sep. 1, 2015 09:45 AM EDT Reads: 252