Varentec, a Santa Clara, Calif.-based provider of Grid Edge Volt VAR control solutions, closed its Series C funding round.
Backers included existing investors 3M Ventures, Bill Gates and Khosla Ventures.
The company intends to use the funds to expand activities internationally and to continue the development of the company’s GEMS™ software platform and ENGO® grid edge control devices functionality for deployments across the U.S.
Led by Chairman & CEO Guillaume Dufosse, Varentec provides innovative solutions for the distributed grid control.
The Varentec ENGO® devices are deployed on the secondary side of the distribution grid to control voltage and reactive power in real time and eliminate grid edge voltage volatility, even when high numbers of distributed PV solar systems are deployed on a circuit.
The devices are deployed across the U.S. and Canada.
FinSMEs
10/08/2016