Ambient takes $10.7M from Duke Energy for smart grid tech
Energy utilities are getting with the program when it comes to smart grids, and that’s translating into interest in a generation of startups innovating new ways to track how energy is distributed across large networks.
A startup that is also traded on the over-the-counter bulletin boards, Ambient Corp. (OTCBB: ABTG) works on smart grid tech with utilities on the east coast. That includes Duke Energy, which just inked a $10.7 million contract with the company to further develop the technology, according to VentureWire (subscription required).
The investment follows closely on two others into similar companies: eMeter just received $12.5 million, and last week, GridPoint, which also works with Duke, took on $15 million more. But there’s plenty of room in the market; as we wrote several years ago, the smart grid space may be worth as much as $45 billion.
Ambient, which is based in Boston, also picked up a $2.5 million investment in January.
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Tags: co:gridstone, co:qd vision, deal
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.