CURRENT, a Germantown, MD-based provider of core smart grid infrastructure and software solutions, has raised $13m in funding.
Participants in this round are new investors Business Media China AG and Espírito Santo Ventures, as well as existing investors Associated Partners, EnerTech Capital and Goldman Sachs.
The company intends to use the funds to accelerate product development and continue to expand in the European and Asia Pacific markets.
CURRENT has also appointed Tom Willie, who previously served as the company’s Chief Product Officer, as new President and CEO.
In addition, the company has named John Du as new CFO.
CURRENT provides core infrastructure smart grid technologies, including hardware and software solutions that enable Connected Intelligence to distribution utilities and which supports applications such as advanced metering, reliability event detection, and grid communications.
The company has operations in the United States, Switzerland, Spain, Portugal, Italy, France, Turkey, Romania, Czech Republic, United Kingdom, Australia, and China.