Smart Grid Start-Up Grid2Home Closes Second Round of Funding
SAN DIEGO, CA--(March 8, 2011) - Grid2Home, developer of Smart Energy Profile 2.0 (SEP-2) communication technologies, announced today that it has completed a second round of funding, led by Granite Ventures. The funding will enable the company to take their SEP-2 standards-compliant G2H-SE2 Software solution into production and scale to meet the demands of a growing customer base.
"Demand for SEP-2 in the market is strong," said Sam Kingsland, Managing Director of Granite Ventures and member of the Grid2Home Board of Directors. "Grid2Home is seeing strong customer interest in their G2H-SE2 Software and we are pleased to help Grid2Home scale to meet that demand and continue to deliver innovative Smart Energy solutions."
Grid2Home's current and prospective customer base includes major semiconductor manufacturers and a broad base of device manufacturers including smart meter, thermostat, in-home display and appliance manufacturers, as well as automotive makers developing products that will be interoperable with the Smart Grid. Proceeds from this investment round will be used to take the G2H-SE2 Software solution to production with existing customers and to expand Grid2Home's business to additional customers in the Smart Energy space. In addition, Grid2Home will continue to be active in driving standards bodies that are defining the Smart Grid.
As an important step towards scaling the company to meet demand, Grid2Home has named Gordon Lum Vice President of Engineering. With over 23 years experience in the design, development, and deployment of all types of digital communications equipment, Mr. Lum will lead the company's engineering team with overall responsibility for taking the G2H-SE2 Software to production. Prior to joining Grid2Home, Mr. Lum founded and acted as Vice President of Engineering at TurboNet.
"With the continued support of our investors, the addition of key executives such as Gordon and our growing customer base, Grid2Home is strategically positioned as the leader in the SEP-2 space," stated Rick Kornfeld, CEO of Grid2Home.
Grid2Home is a communications software company at the forefront of Smart Grid connectivity technologies. Used across a range of devices such as smart meters, appliances and electric vehicles, the standards-compliant G2H-SE2 Software is portable across all major semiconductor platforms and physical layers including 802.15.4, 802.15.4g, 802.11 and Power Line Communications, allowing maximum product development flexibility and easy integration for Smart Grid device manufacturers. Active in driving Smart Energy Profile (SEP-2) communications standards for the Home Area Network (HAN), the Grid2Home management team and board of directors combines business acumen and communications protocol expertise to the fast-growing Smart Grid market. For more information see www.grid2home.com.
Vendum Batteries Pursues EC Collaborative Funding
READING, UK--(March 9, 2011) - Vendum Batteries, a battery technology development company, has announced that it will pursue a collaborative grant under the European Commission's FP7 policy. FP7 relates to the European Commission's research policy.
EC Commissioner Máire Geoghegan-Quinn announced last July an investment of nearly EUR 6.4 billion in research and innovation. Part of this funding is aimed at advancing scientific boundaries, increasing European competitiveness and helping to solve challenges such as climate change, energy and food security, health and an aging population.
Earlier this year Vendum announced the addition of Dr. Bojan Boskovic as advisor to the board on the development of clean energy storage for a range of industrial applications, as well as consulting with investors. Dr. Boskovic also boasts a great deal of experience with FP7 funding.
"Demand for clean energy storage and other new materials will continue to grow," said Vendum CEO Fraser Cottington. "We have always believed that with the correct infrastructure, people and research facilities in place we stand a great chance of being awarded funding. With the additional bonus of in-house experience, our chances of success are that much greater."
Vendum Batteries has a pending patent on a non-toxic, carbon-based light-weight battery. The paper-thin battery contains none of the toxic elements used in conventional batteries and its cutting edge carbon nanotube and cellulose-based technology makes it entirely biodegradable. The Vendum Battery will be developed from its current low power capacity, to eventually accommodate the ever-increasing global demand for durable battery power for cell phones, music players, implantable medical devices and other electronics. For more information, see www.vendumbatteries.com.