UtiliData, Inc., a Providence, RI-based supplier of voltage optimization products for the electric grid, has completed a round of financing of undisclosed amount.
The round was led by Braemar Energy Ventures.
The company intends to use the capital to accelerate the advancement and expansion of AdaptiVolt™ system.
Led by CEO Ron Decker, UtiliData provides utilities and large industrial companies with AdaptiVolt™ Volt/VAR Optimization product, which uses advanced signal processing to extract the underlying behavior of the electric distribution grid and uses that information to make near-optimal control decisions of power regulation devices.
In conjunction with the funding, Scott DePasquale, Partner at Braemar Energy Ventures, has joined UtiliData’s board of directors as Chairman.