Optimal Technologies raises $25M for grid efficiency
Optimal Technologies International is a software and technology provider for electrical utilities and consumers. It promises to improve efficiency and reduce consumption.
The company’s AEMPFAST product is an analytics program for utilities that tells the system where to send electricity. Optimal claims that utilities that have installed its technology increase capacity by at least 10 percent, and lower greenhouse gas output by some 30 percent.
SUREFAST is Optimal’s consumer-oriented product. Able to scale to a single home or a whole college campus, it is made for “intelligent, efficient and responsive homes and buildings.” SUREFAST is scheduled to be released in 2008.
Of the $25 million total to be provided by Goldman Sachs, the company will receive $13 million immediately. The remaining amount will be delivered as the company reaches development milestones.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.