{"id":38785,"date":"2009-11-09T16:40:15","date_gmt":"2009-11-09T21:40:15","guid":{"rendered":"http:\/\/www.pehub.com\/?p=55133"},"modified":"2009-11-09T16:40:15","modified_gmt":"2009-11-09T21:40:15","slug":"vc-backed-gridpoint-buys-addmmicro","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/38785","title":{"rendered":"VC-Backed GridPoint Buys ADDMMicro"},"content":{"rendered":"

GridPoint Inc.<\/strong>, an Arlington, Va.-based smart-grid company, has acquired ADMMicro<\/strong>, a Roanoke, Va.-based provider of energy management systems for the commercial and industrial sector.\u00a0No financial terms were disclosed. GridPoint has raised around $220 million in total VC funding, from firms like Goldman Sachs, New Enterprise Associates, Susquehanna Private Equity, Perella Weinberg Partners and Robeco.<\/p>\n

PRESS RELEASE<\/span><\/strong>
\nGridPoint, Inc., a leading smart grid company, today announced that it has acquired ADMMicro, a leader in energy management systems for the commercial and industrial (C&I) sector. The acquisition extends GridPoint\u2019s smart grid solutions to a broader customer base, further strengthening the company\u2019s commitment to transform the distribution and consumption of electricity.<\/p>\n

\u201cThe smart grid cannot be fully realized without integrating intelligent facilities that are equipped to automatically achieve optimum efficiency,\u201d said Peter L. Corsell, CEO, GridPoint. \u201cADMMicro is an innovative company that has established a leading position in a rapidly expanding market segment. Our respective technologies are highly complementary and will benefit producers and consumers of electricity across the board.\u201d<\/p>\n

ADMMicro helps clients cost-effectively manage their facilities to increase energy efficiency. The Roanoke, Va.-based company\u2019s energy management and submetering systems automatically monitor and control energy consumption, including HVAC systems and lighting, and provide customers with online reports.<\/p>\n

ADMMicro\u2019s proven C&I systems, which are in use at thousands of sites nationwide, will enhance GridPoint\u2019s portfolio of software solutions, which aggregate and manage distributed sources of load, storage and generation for utilities and their residential customers. GridPoint\u2019s software allows utilities to efficiently balance supply and demand and improve grid reliability and empowers consumers with user-friendly tools to manage energy consumption.<\/p>\n

The utility market remains a core focus for GridPoint, which will continue to develop products and services that redefine relationships between utilities and their customers. For example, the extension of GridPoint\u2019s solutions into the C&I market creates new opportunities for utilities to engage enterprise customers in demand response and load reduction programs.<\/p>\n

GridPoint\u2019s strength in data analytics and designing user interfaces will further enhance ADMMicro\u2019s energy management offerings by enriching the experience for customers, which include public sector and Fortune 500 businesses, including leading national retail, pharmacy and restaurant chains.<\/p>\n

\u201cOur companies have a closely aligned vision, which involves empowering our customers with visibility and control over energy consumption in order to realize savings and lower their carbon footprint,\u201d said Don Howell, CEO, ADMMicro. \u201cWe look forward to participating in GridPoint\u2019s exciting mission to enable the smart grid.\u201d<\/p>\n

Howell and ADMMicro\u2019s management team are veteran electrical engineers and utility executives who have worked in the fields of energy management, building management, electrical power monitoring, and retail operations for more than 25 years. GridPoint values ADMMicro\u2019s leadership role as a high-tech innovator and employer in the Roanoke Valley and will continue its operations there. ADMMicro has been featured in Fortune magazine and was recognized with a 2009 Rising Star Award by the NewVA Corridor Technology Council, which serves the growing technology industry in the region encompassing Roanoke, Blacksburg and surrounding counties.<\/p>\n

GridPoint is working with utilities nationwide including Austin Energy, Duke Energy, Sacramento Municipal Utility District (SMUD) and Xcel Energy. The company\u2019s interoperable enterprise-class server technology enables utilities to rapidly integrate and manage emerging technologies, resulting in a practical path to developing a clean, efficient 21st century grid. GridPoint has raised in excess of $220 million to fuel its organic development and acquisition strategy. Investors include Altira Group, Craton Equity Partners, Goldman Sachs Group, New Enterprise Associates (NEA), Perella Weinberg Partners, Quercus Trust, Robeco and Susquehanna International Group (SIG). GridPoint was recently named to the Global Cleantech 100 and was selected by the World Economic Forum as a Technology Pioneer in 2008.<\/p>\n

About GridPoint<\/p>\n

GridPoint, Inc., an established leader in smart grid software, enables utilities to easily manage the transformation to a smart grid. GridPoint\u2019s software aggregates and manages an intelligent network of distributed energy resources that controls load, stores energy and produces power. Utilities efficiently balance supply and demand, improve grid reliability and empower consumers with user-friendly software to manage energy consumption. Utilities and consumers realize the benefits of energy intelligence with GridPoint\u2019s solutions including home energy management, load management, renewable integration, storage management and electric vehicle management. With GridPoint\u2019s interoperable platform, utilities rapidly integrate and manage emerging technologies, resulting in a practical path to developing a clean, efficient 21st century grid. On the Net: www.gridpoint.com<\/p>\n

About ADMMicro<\/p>\n

Headquartered in Roanoke, Va., ADMMicro offers a new breed of intelligent energy management systems equipped with revenue-grade accurate metering devices to monitor electricity, natural gas, propane, or water consumption. The patented system can enhance security systems and manage retail maintenance service calls. The Energy Management System delivers rapid ROI for buildings of 1,500 square feet and up. ADMMicro is an Energy Star partner. On the Net: www.admmicro.com<\/p>\n

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GridPoint Inc., an Arlington, Va.-based smart-grid company, has acquired ADMMicro, a Roanoke, Va.-based provider of energy management systems for the commercial and industrial sector.\u00a0No financial terms were disclosed. GridPoint has raised around $220 million in total VC funding, from firms like Goldman Sachs, New Enterprise Associates, Susquehanna Private Equity, Perella Weinberg Partners and Robeco. PRESS […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-38785","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/38785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=38785"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/38785\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=38785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=38785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=38785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}