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Alternative Energy - Wednesday, September 27, 2006

GridPoint Has Household Energy Management Down; Raises $21M Led by Goldman Sachs

Washington, DC-based GridPoint has raised $21M in strategic third-round funding led by Goldman Sachs, which put in $18M. Goldman Sachs' subsidiary Cogentrix Energy will distribute GridPoint's energy management systems.GridPoint had raised a $16M in Series B deal earlier this year from Altira Group, Contango Capital and Advantage Capital Partners.

With all the McMansions that have gone up in the past few years, efficient household energy use can justify the investment in a Gridpoint system. Gridpoint is also used to power a house in the event of a black-out and to manage solar energy.

Alongside its Internet-connected appliances, GridPoint offers Internet-based services, such as detailed usage information and the ability to turn off appliances in the home during periods of high electricity demand.

Though its deal with Cogentrix consumers who have a storage unit installed will pay a monthly fee, about $20 per month. If you bought a unit outright it would set you back $10K.

gridpoint screen grab.png
Gridpoint Units pictured with a yellow lab

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