GridPoint has released a new version of its software with new home energy and utility load management capabilities and a way to integrate an older “smart meter” technology into its platform – and it has landed a marketing agreement that could lead to deals with utilities interested in using it.
The Arlington, Va.-based startup said Monday that it has a marketing alliance with Hometown Connections. Hometown is a services subsidiary that represents about 650 members of the American Public Power Association, a trade group for the about 2,000 publicly owned utilities around the country.
Those smaller utilities serve about 45 million customers across the country. While the announcement didn’t mention any sales of GridPoint’s software, it did say that it will provide “favorable commercial terms” and set GridPoint as Hometown Connection’s “exclusive smart grid software platform provider,” the company announced.
GridPoint is promising utilities a software suite that ties together energy efficiency, load management, the integration of distributed energy sources like solar and wind power and the management of energy storage and electric vehicles.
It’s raised a lot of money to do it – more than $220 million since its 2003 founding. Its last round for $120 million in September was among the biggest yet for a smart grid startup, and helped it buy car charging technology developer V2Green and promise more acquisitions to come (see GridPoint Gets $120M, Buys V2Green).
Now the question is, which utilities are interested in buying what GridPoint has to sell? Like some of its fellow smart grid startups, GridPoint has been involved in some large-scale pilot projects – in its case, with Xcel Energy, Duke Energy and Austin Energy – but has yet to announce a large-scale commercial deployment of its software.