in News Departments > New & Noteworthy
print the content item

Energy Foundry, a $22.5 million venture fund established under the Illinois Energy Infrastructure Modernization Act (EIMA), has announced its formation. The fund says it expects to begin making investments in Illinois-based energy-tech start-ups within the next 30 days.

As part of the EIMA, Illinois electric utilities ComEd and Ameren provided $22.5 million in initial funding for the creation of the Energy Foundry. Anne Pramaggiore, president and CEO of ComEd, commends state regulators for furthering grid-modernization efforts.

"The creation of this grid-tech investment fund is yet another example of Illinois policymakers thinking in non-traditional ways to create smart and innovative policy solutions to propel our state forward," says Pramaggiore. "We share Energy Foundry’s vision for Illinois to become a hub of grid-tech activity. The smart grid law was an important step in that direction, and this fund is a good illustration of what sound public policy can accomplish."



Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

Smart Grid Interest Continues To Spread Among U.S. Rural Utilities

A new survey gauges rural smart grid efforts across the country and offers key findings, one of which is that nearly all utilities polled are doing something to modernize their systems.


Global Smart Grid Tech Revenue Slated For Solid Growth

According to a report from Navigant Research, annual revenue for smart grid technologies will reach over $70 billion within the next 10 years.


Utilities Partner With Energy Storage To Harness Renewables

As utilities struggle to incorporate the increased use of intermittent renewable energy resources, such as solar and wind power, onto the grid, the power providers are looking to energy storage.


Smart Meter Fire Probe Points To Sensus Design 'Shortcomings'

There has been more fallout in Saskatchewan: An investigation into SaskPower's halted smart meter program says Sensus Generation 3.3 units "have a tendency to leak" and the utility mishandled the rollout.


Two Years After Superstorm Sandy, Utilities Highlight Grid Efforts

As the U.S. reflects on the monster hurricane that struck in October 2012, utilities note what they have done to help protect against future severe weather.

S&C Electric_id176
edf_id180