Company: Gridco Systems
Is there a new dawn of smarter power grid tools emerging? Finally?
The electricity grid has slowly been adopting some of the technologies that have been mainstays of the internet, like decentralized computing and smarter distributed systems. A step in that direction emerged on Tuesday from startup Gridco, which after four years has announced its first commercial product: new power electronics and a smart management system for the part of the grid that brings electricity to homes and buildings.
The idea is that Gridco’s gear and software — which includes digital control units, sensors, and algorithms — can help utilities tightly control the flow of power on that edge section of the grid. Utilities could also use it to better integrate solar and wind farms — that have fluctuating bursts of power at certain times of day — into their networks. (You can read all the technical details and jargon of the Gridco product here).
The notion behind the tech was formed out of Silicon Valley, from the brain of a serial entrepreneur and backed by long time venture capitalists. Gridco has raised $30 million from VCs General Catalyst, North Bridge venture partners, Lux Capital, and RockPort Capital, and the company was founded by Naimish Patel, who co-founded optical networking company Sycamore Networks.