|By Business Wire||
|December 4, 2012 12:00 PM EST||
Powerit Solutions, the leader in energy demand management automation for industrial businesses, today announced the completion of a $5.5 million Series C growth financing round. The round includes an initial $3 million in April of this year and an additional $2.5 million investment that closed in late November.
The investment will support Powerit’s ongoing work with strategic partners to integrate its product, Spara EMS®, into the industrial automation, utility, and smart grid infrastructure. It will also fund the completion of a cloud platform launching in 2013. Finally, it will allow Powerit to expand its reach in the European market. Four institutional investors from previous rounds participated, with Black Coral Capital leading as it did in the Series B round.
“Our investors are excited about Powerit’s expansion of strategic partnerships as well as the upcoming launch of Spara into the cloud,” says Kevin Klustner, Powerit CEO. “We are pioneers in our field, and our hundreds of existing installations and active collaborations with utilities, OEMs, and system integrators are enabling us to help industrial facilities worldwide effortlessly control energy use for savings and sustainability.”
A noted leader in automated demand response, Powerit Solutions now manages an estimated 571 megawatts of electrical load in North America. In October, Powerit earned a spot on the Global Cleantech 100 list as one of the 100 most promising private cleantech companies in the world. Later that month, Powerit announced sales partnerships with four leading U.S. automation distributors that together have billions of dollars in sales in 20 states.
The new funding will enable Powerit to:
- Expand strategic relationships with its industrial automation, utility, and smart grid partners in North America and Europe
- Launch the Spara cloud product
- Pursue expansion in the European market
Powerit’s new cloud platform, a focus of research and development throughout 2012, will be unveiled early next year. SparaHub™ will provide real-time pricing and demand response event data for each user’s market and give users seamless integration with utility programs. The hosted platform also will allow partners to easily integrate Spara into their solutions and will provide aggregate data enabling users to benchmark their performance against their industry.
“Powerit is uniquely positioned in the industrial automation market as the last mile linking facilities to the smart grid, so they can tap into savings and ever-more sophisticated demand management strategies,” says Rob Day of Black Coral Capital. “And potential energy savings in the industrial market are still largely untapped. Spara is on track to be a key technology in this huge sector as energy prices continue to rise.”
“We believe the company’s ongoing work with strategic partners will accelerate when SparaHub comes online,” Day adds. “We also like the fact that Powerit has a strong base for expansion in Europe.”
About Powerit Solutions
Powerit Solutions is a Seattle-based international cleantech company that sets the demand management standard. Its Spara EMS® technology links industrial facilities with the smart grid so customers can effortlessly control energy use for savings and sustainability. Spara uses sophisticated algorithms, built-in load-shedding intelligence, and data drawn from equipment, electricity meters, and utility transmissions to optimize facility energy use—without compromising production or quality. For more information, visit the Powerit Solutions website.
High-performing enterprise Software Quality Assurance (SQA) teams validate systems that are ready for use - getting most actively involved as components integrate and form complete systems. These teams catch and report on defects, making sure the customer gets the best software possible. SQA teams have leveraged automation and virtualization to execute more thorough testing in less time - bringing Dev and Ops together, ensuring production readiness. Does the emergence of DevOps mean the end of E...
Jan. 30, 2015 08:45 AM EST Reads: 2,759
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
Jan. 30, 2015 08:15 AM EST Reads: 3,145
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
Jan. 30, 2015 07:45 AM EST Reads: 2,061
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
Jan. 30, 2015 06:00 AM EST Reads: 2,793
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 05:15 AM EST Reads: 2,542
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
Jan. 30, 2015 05:00 AM EST Reads: 2,850
At 15th Cloud Expo, Shrikant Pattathil, Executive Vice President at Harbinger Systems, demos a video delivery platform that helps you do interactive videos. He discusses how Harbinger is accomplishing it in the cloud world, the problems they faced and the choices they made to get around these problems.
Jan. 30, 2015 04:45 AM EST Reads: 1,614
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
Jan. 30, 2015 04:45 AM EST Reads: 3,142
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water,...
Jan. 30, 2015 04:30 AM EST Reads: 3,172
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
Jan. 30, 2015 04:30 AM EST Reads: 2,800
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Jan. 30, 2015 04:30 AM EST Reads: 3,443
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Jan. 30, 2015 03:30 AM EST Reads: 3,824
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 30, 2015 03:30 AM EST Reads: 3,097
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
Jan. 30, 2015 03:15 AM EST Reads: 1,912
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
Jan. 30, 2015 03:00 AM EST Reads: 3,445
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Jan. 30, 2015 02:30 AM EST Reads: 3,023
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your o...
Jan. 30, 2015 02:00 AM EST Reads: 3,045
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
Jan. 30, 2015 02:00 AM EST Reads: 3,046
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
Jan. 30, 2015 01:00 AM EST Reads: 2,916
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Jan. 30, 2015 12:30 AM EST Reads: 3,060