in Up Front
print the content item



Smart grid venture capital (VC) funding in the second quarter of this year (Q2'13) totaled $50 million in 10 deals. Except for one quarter, Q3'12, VC funding has been stuck in the $50-$70 million range with 9-12 deals for almost two years, according to a new report from Mercom Capital Group.

"Even though the number of deals were consistent compared to the last few quarters, this was one of the lowest-funding quarters in the last four years," notes Raj Prabhu, CEO of Mercom Capital Group.

The Top 5 deals were led by Enlighted, which raised $20 million in a Series C round. New investor RockPort Capital led the round and was joined by new investor DFJ JAIC. Existing investors Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson, and Intel Capital also participated in the round. 10147_mercom_1.pngC3 Energy raised $15 million. Optimum Energy raised $12.2 million in a round led by new investor Navitas Capital (backed by a venture capital advisory relationship with Johnson Controls); the round also included existing investor Columbia Pacific Capital Management. Ecolibrium Energy received $1.6 million from Infuse Ventures and International Finance Corp. Rounding out the Top 5 was Integrated Energy Management Solutions, which raised $1 million.


According to the report, home and building automation companies totaled the most deals in the sector ($33 million in five deals), followed by grid optimization companies ($17 million in three deals) and advanced metering infrastructure (AMI) and security companies with one deal each.

10147_mercom_2.png

The report says there were three mergers and acquisitions transactions in Q2’13. The lone disclosed transaction this quarter was Cisco’s acquisition of JouleX for $107 million. Last quarter, there were four transactions, of which only one was disclosed for $11 million.

More information about Mercom’s report is available here.






Hybrid Energy Innovations 2015
Latest Top Stories

Duke Energy Commits $500M To Major Solar Expansion In N.C.

The utility company says the investment will help further diversify its portfolio, as well as increase solar power for its North Carolina customers by 60%.


Sensus Issues Refund To SaskPower After Smart Meter Woes

As SaskPower continues to swap out its Sensus units following several meter failures, the two companies have reached an agreement in order for the utility to recover costs.


The Smart Utility's Guide To Choosing A Smart Meter

Electricity providers across North America are taking on grid modernization. This article outlines the myriad factors a utility should consider in order to select the best-possible smart meter.


DOE Report: U.S. Wind Power Prices Reach All-Time Low

According to the U.S. Department of Energy (DOE), wind power continues to play a larger role in the U.S.' energy mix and is the cheapest it has ever been in the country.


Survey Reveals What U.S. Consumers Expect From Their Utilities

GE's new survey measures Americans' views on the state and future of the grid, as well as how much extra consumers would be willing to pay for better power reliability.

S&C Electric_id176
Hybrid Energy Innovations 2015
Future Energy_id187
edf_id180