Raleigh-based Consert Inc., a smart grid technology provider, announced Wednesday that Constellation Energy (NYSE:CEG), GE Energy Financial Services (NYSE:GE), Qualcomm Incorporated (NASDAQ:QCOM), and Verizon Ventures participated in a $17.7 million funding round.
Proceeds will be used for strategic marketing, North American sales and ongoing enhancements of Consert’s advanced smart grid software.
Consert’s machine-to-machine communications are enabled and managed
through the Verizon Wireless network. Consert is able to report
real-time, empirical data to achieve an integrated consumer-to-grid
solution with additional smart grid features including demand
management, advanced metering infrastructure and a Home Area Network.
Consert’s
technology is built on IBM enterprise software and works with
standards-based hardware.
Consert is currently providing municipal and cooperative electric utilities in North Carolina and Texas with home energy management systems for customers.
Wake Electric Membership Corporation in North Carolina just completed a pilot with Consert and now plans to extend the service to its member base. Its CEO, Jim Mangum, reported, “Our pilot participants realized energy savings ranging from 7% to 54% with an average of 17% and responded favorably about the ease-of-use of the Consert system.”
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