Boulder, CO, U.S.A. — (METERING.COM) — April 1, 2008 – Energy efficiency technology provider Tendril has completed a Series B round of funding worth $12 million that will fuel the company’s rapid expansion in providing energy management solutions to the utility industry. The lead investor in this round is RRE Ventures in New York, who joins Vista Ventures, Access Venture Partners and Appian Ventures as major investors in Tendril. This investment follows the beta release of the Tendril Energy Management System (EMS), which facilitates dialogue between consumers and utilities for more intelligent, consumer-centric control of energy consumption.
“RRE invested in Tendril because it provides critical technology for energy management and because its open-standards approach is exactly what companies in the utility industry are looking for,” said Stuart Ellman, Managing Partner of RRE Ventures. “A number of trends such as rising energy costs and environmental awareness are driving dramatic growth in the deployment of technology to manage electricity demand and usage. Tendril’s message of open standards and its consumer-centric approach to solving this problem has solid traction with major utilities that are planning large-scale rollouts of residential energy management solutions, and we expect continued progress based on the strength of Tendril’s EMS product.”
The Tendril Energy Management System is a mixture of software and in-home hardware that has an open architecture to provide seamless integration to any ZigBee Smart Energy products for the home. It improves operational efficiency for utilities by engaging residential consumers in a dialogue about reducing load both continuously and at critical peak times, and it provides consumers with real-time information about energy consumption in a variety of formats including in-home displays, a web portal and smart thermostats. In addition, the Tendril Energy Management System offers a full, open API to integrate with existing back office enterprise systems, including meter management and billing systems as well as load monitoring and security applications.