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Intel plan to invest $10 million in five cleantech companies


Friday, July 31, 2009


Intel Capital, Intel Corp's global investment organization, has announced it will invest approximately $10 million in five cleantech companies.

The move include first-time investment in US-based CPower, as well as follow-on investments in Ireland-based Powervation and US-based companies Convey Computer, Grid Net, and iControl.

"Intel Capital has made a significant commitment to invest in the cleantech sector in recognition of the increasing need for alternative energy production and advanced energy management and utilization solutions," said Arvind Sodhani, president of Intel Capital and Intel executive VP, in a statement Wednesday. "The global nature of these five investments demonstrates our focus on accelerating cleantech innovation, emphasizing Intel Capital's unique strength as a global, stage agnostic investor."

According to Intel, New York-based CPower delivers targeted energy management services and solutions that allow companies to optimize their facilities and operations through energy reduction initiatives and earn market payments for those reductions.

Grid Net, based in San Francisco, is described as a "pioneer" by Intel in providing the network operating system and management control plane for the smart grid. PolicyNet, Grid Net's management platform for all networked transmission, distribution, and generation smart grid devices, provides cost-effective rapid deployment and management that leverages 4G broadband networks.

Limerick, Ireland-based Powervation provides digital power controllers for server, desktop computing, and communications platforms that deliver capabilities in automatic configuration and self stabilization. Intel said these devices speed design time and allow system stability as other power supply components age.

Convey Computer, based in Richardson, Texas, offers high-performance computing (HPC) solutions that aim to dramatically reduce energy consumption and boost performance. Convey's HC-1 solution tightly integrates existing off-the-shelf hardware ¨C namely an Intel Xeon processor and FPGAs ¨C with compiler technology that minimizes programming challenges, Intel said.

And Palo Alto, Calif-based iControl provides an IP-based platform that delivers monitored home security, remote home monitoring, and home and energy management capabilities to security and broadband providers, according to Intel.

"These investments share synergies focused on accelerating adoption of smart grid technologies, fostering energy efficiency and performance in ways that benefit consumers of electricity and power utilities as well as complement Intel's strategic objectives," said Steve Eichenlaub, Intel Capital's managing director of platform technologies, cleantech and digital health, in the statement. "Each investment underlies Intel Capital's commitment to invest in cutting edge technologies and support our expanding portfolio of cleantech-related companies."

Intel Capital invested in and works with CPower, Grid Net, and iControl as part of its smart energy efforts that focus on utilizing Intel Architecture solutions and industry standards to improve performance, speed deployment, and enhance security in large-scale deployments.

The company said that Convey Computer complements its HPC efforts, augmenting Intel Architecture platforms across multiple target industries such as energy, transportation, financial services, and healthcare.

By: DocMemory
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