Consert Inc., a Raleigh, N.C.-based smart grid technology provider, has raised $17.7m from Constellation Energy (NYSE:CEG), GE Energy Financial Services, a unit of GE (NYSE:GE), Qualcomm Incorporated (NASDAQ:QCOM), Verizon Ventures and other private investors.
The funds will be used to fund strategic marketing, North American sales and enhancements of the company’s advanced smart grid software.
Consert designs and provides software-as-a-service intelligent distributed energy resource management systems which empower consumers to monitor and reduce their energy consumption while granting utilities permission to adjust consumer loads and obtain real-time data. These data help them improve reliability, add valuable new services and reduce capacity constraints and operating costs to preserve and enhance cash flow.
FinSMEs
29/06/2010