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Intel injects cash in cleantech startups

Posted: 31 Jul 2009 ?? ?Print Version ?Bookmark and Share

Keywords:cleantech? Intel investment? smart grid? solar cell?

Intel Corp. has expanded its new energy initiative by investing approximately $10 million in five startups. As reported, Intel recently formed a new sub-group, dubbed the Energy Systems Group, which will focus on the development of smart building, smart homes and smart grids.

The company has invested in the following firms:

CPower!The company delivers targeted energy management services and solutions that enable companies to optimize their facilities and operations through energy reduction initiatives and earn market payments for those reductions. This is Intel Capital's initial funding of CPower.

Grid Net!The company is a pioneer in providing the network operating system and management control plane for the Smart Grid. Grid Net's Series C funding round includes Intel Capital's third investment.

Powervation!It provides digital power controllers for server, desktop computing and communications platforms that deliver capabilities in automatic configuration and self stabilization. Intel Capital co-led Powervation's Series A funding round and this is its second investment in the company.

Convey Computer!The firm offers high-performance computing solutions which aim to reduce energy consumption and boost performance. Convey's HC-1 solution integrates advanced existing off-the-shelf hardware!namely an Intel Xeon processor and field programmable gate arrays ! with compiler technology that minimizes the programming challenges. Convey's Series B funding round includes the second investment by Intel Capital.

iControl!The firm provides an IP-based platform that delivers monitored home security, remote home monitoring and home and energy management capabilities to security and broadband providers. iControl's Series C funding round includes a follow-on investment by Intel Capital.

"These investments share synergies focused on accelerating adoption of smart grid technologies, fostering energy efficiency and performance in ways that benefit consumers of electricity and power utilities as well as complement Intel's strategic objectives," said Steve Eichenlaub, managing director of platform technologies, cleantech and digital health at Intel Capital.

SpectraWatt Inc.!the solar cell spinoff of Intel! recently moved its operations from Oregon and will establish the company's first factory and its new headquarters at the Hudson Valley Research Park in Hopewell Junction, N.Y.

- Mark LaPedus
EE Times

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