A new SEC filing revealed today that Gridpoint — a smart energy consultancy based in Arlington, Virginia — raised another $23.6 million to design, build and install energy tracking and management systems for companies or government agencies seeking to cut costs and reduce consumption.
Founded in 2003, Gridpoint appointed a new chief executive, John B. Spiritos, last quarter (October 2010). In the spring last year, the company won a $28 million contract with the United States Postal Service (USPS) to install energy management systems in selected post office locations across the U.S. It also made a number of acquisitions in the smart-grid space.
In previous interviews with Gridpoint engineers, TechCrunch learned that the company has developed a bit of a specialty in sourcing and using solar and other clean tech equipment from domestic companies. Solar panels and other technology made of raw materials from, and manufactured in the U.S., qualify for a number of federal and state subsidies, rebates or grants.
TechCrunch has reached out for further details on how and where Gridpoint plans to put its new-found capital to work, and which investors were involved in this round. Executives at Gridpoint were not available to comment, immediately. The funding appears to be an extension of an earlier series E round.
GridPoint, Inc. (www.gridpoint.com) provides utilities software solutions for electrical grid management and electric power demand and supply balancing. It designs and develops the GridPoint Platform, which offers utilities a network of distributed resources that controls load, stores energy, and produces power. The platform integrates load measurement and control devices, energy storage technologies, and renewable energy sources. GridPoint also offers online energy management and renewable energy consumption monitoring software tools. The company was founded in 2003 and is based in Arlington,...
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