Trilliant, a company that works on the nation’s “Smart Grid“, has closed a $40 million funding round led by MissionPoint Capital Partners and zouk ventures. As part of the deal, Mark J. Lewis of MissionPoint and Anthony Fox of zouk will be joining the company’s Board of Directors.
Smart Grid refers to the improved power grid being rolled out nationwide (and in some European countries) that makes use of computers and advanced sensors to more efficiently distribute power, saving money and cutting back on emissions. Older power grids still rely on technology developed over a century ago, which has led the US Congress to pass the Energy Independence and Security Act of 2007, allotting $100M in funding every year between 2008-2012.
Earlier this year we saw another similarly large investment in more efficient power sources when Infinia raised $50 million for its renewable energy source, which combines a Stirling engine with a large solar collector.