in News Departments > FYI
print the content item

Providence, R.I.-based Utilidata Inc., a supplier of voltage optimization and digital automation systems for the electric utility industry, has secured more than $20 million in Series B financing.

According to Utilidata, venture capital firm Formation 8 Partners and Saudi Aramco Energy Ventures led the round and were joined by existing investors Braemar Energy Ventures and utility American Electric Power.

The company says the funding will allow it to bring new products related to digital automation, voltage optimization and systems management to market. Utilidata adds that the funding will help expand its presence in North America, Asia and the Middle East.

Jim Kin, Formation 8 founder, will join Utilidata's board of directors, the company notes.


Hse SandyHook
Latest Top Stories

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.


How A GIS Can Help Utilities Address The Aging Workforce And Capitalize On Data

Baby Boomers, whose experience and know-how have served the utility industry so well for decades, are retiring. The author suggests utilities can use a geographic information system (GIS) to fill in resultant knowledge gaps.


Sensus Smart Meters Tied To More Overheating Incidents And Fires

SaskPower is investigating two new meter failures, and Portland General Electric is working to replace 70,000 Sensus units amid fire concerns.


SaskPower Halts Smart Meter Installations Following Fires

The Canadian utility has suspended its smart meter deployment as it investigates half a dozen fires associated with the meters.

S&C Electric_id176
edf_id180