GridPoint just got another big wad of cash to keep builidng their business. $48.5 million to be exact. Among those underwriting GridPoint are GoldmanSachs and Susquehanna Private Equity Investments. Just to prove they have contacts, GridPoint is based on K Street in Washington.
Here's GridPoint's own explanation of the services they sell to the electric utility industry and to any customer who wants to save on energy bills: "GridPoint SmartGrid Platform provides an intelligent network that integrates load measurement and control devices, energy storage technologies and renewable energy sources into the electric grid. The platform can easily incorporate emerging technologies, such as PHEVs and fuel cells, as these technologies become commercially viable.
"GridPoint Energy Manager™ is the intelligent node within the home or business that communicates with the GridPoint Operations Center. The operations center acts as an intelligent hub that processes and exchanges information across the platform and provides software applications for utility and customer control.
"Utilities gain direct control over distributed technologies through the GridPoint Control Console, located in the utility control room, and customers manage their energy online through the GridPoint Customer Portal."
See GridPoint's diagram above showing how they fit into the typical electrical grid.
So they use digital technology and custom software to keep the grid humming and minimize waste, down time, overload, etc. File their name under "High Tech Conservation." And note they have now raised over $85 million in venture capital since they were founded almost four years ago.