San Francisco, March 25, 2010 — Grid Net, a maker of smart grid and smart home software platforms for utilities, their partners and their customers, said Cisco has made an equity investment in the company.
Grid Net intends to use the proceeds from this investment to promote its real-time, all-IP, secure, reliable, extensible, end-to-end smart grid network infrastructure solutions.
In addition, the investment highlights the two companies’ shared vision of creating an energy infrastructure that is built on open standards and helps utilities scale for more effective, efficient electricity transmission and distribution.
Grid Net said specifically the financing will be used to accelerate its cooperative efforts around product development, marketing, customer engagement, industry standards and regulatory smart grid initiatives.
Improved coordination and integration of advanced communications and smart grid networking technologies will foster solutions that remove the inherent risks and uncertainties associated with deploying single-vendor proprietary technologies.
Grid Net partners include GE, Intel, Motorola, Clearwire and others to develop and deploy smart grid solutions worldwide. The company launched its partner program in the fourth quarter of 2009, and expects to expand this program in 2010 and beyond.
The Grid Net platform is designed to integrate substation automation, distribution automation, smart meters, demand response, load management and home automation capabilities to increase grid reliability, energy efficiency, renewable energy use and customer satisfaction while reducing operating costs.
Grid Net’s all-IP platform is utility-grade reliable, scalable and built to meet regulatory and governmental smart grid interoperability and cyber-security standards.