in News Departments > New & Noteworthy
print the content item

San Jose-based Varentec, a provider of power control solutions for the electric grid, has closed $8 million in Series B funding from Bill Gates and Khosla Ventures.

Varentec says the capital will fund the production rollout of its intelligent power monitoring, control and data analytics solutions for U.S. and international electric utilities and various industrial applications.

"With multiple successful pilots at investor-owned utilities and co-ops, Varentec is now poised for production rollouts of our Edge of Network Grid Optimization (ENGO) solutions," says Deepak Divan, co-founder, president and chief technology officer of Varentec. "This Series B funding, with the backing of investors like Bill Gates and Vinod Khosla, not only validates our unique approach, but enables us to solve present grid challenges, such as energy conservation, grid optimization and grid integration of rooftop PV."


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.

Hybrid Energy Innovations 2015
S&C Electric_id176
edf_id180
Future Energy_id187