Wednesday, 3 September 2008

Trilliant gets $40m equity financing

Trilliant Incorporated has closed a $40 million equity investment to accelerate its growth and market expansion globally.

The company stated that this investment represents one of the largest investments to date in an independent smart grid technology provider. Trilliant, a provider of Smart Grid communication infrastructure, secured the investment from an affiliate of MissionPoint Capital Partners and zouk ventures.

Bill Vogel, CEO, Trilliant said his company has a very ambitious goal and the new investment definitely accelerates the same.

“We intend to be the leading provider of advanced Smart Grid solutions globally, helping utilities upgrade and modernise their network infrastructure and expand their energy management capabilities with best-in-class, flexible, robust solutions and service,” said Vogel.

To its credit, Trilliant has now delivered more than 750,000 intelligent devices with integrated communications supporting advanced metering, demand response and other Smart Grid applications.

The deal underlines VC’s growing appetite for companies working on technologies to improve large power grids. As per the information available, at least half a dozen other smart grid funding deals have been struck this year in a boom in government support for technologies that improve power grid monitoring and management. Other funding deals are a $23m investment in BPL Global, a smart grid rival, led by Morgan Stanley, and a $17.4m investment in Silver Spring Networks, a networking company focused on power grids.

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