Exelon Invests In Real-Time Energy Data Monitoring Company, Notes Potential Application At Constellation
April 28, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
The following story is brought free of charge to readers byEC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com
Vutiliti which describes itself as a, "smart utility monitoring company," announced today that it has received a Series A investment of $11.75 million led by Constellation Technology Ventures, the venture investing arm of Exelon Corporation, and Cycle Capital Management.
Also invested are Chevron Technology Ventures, University Venture Fund, and a continuing investor, Kickstart Seed Fund.
"The funding will accelerate Vutiliti’s global expansion and development of its proprietary HotDrop technology and utility monitoring systems," Vutiliti said
Vutiliti said, "Vutiliti is an energy data company that focuses on utility efficiency through detailed, timely and accurate measurement data. This data is challenging to obtain affordably in real time and at scale. Vutiliti can help companies solve these challenges with the first truly wireless, LoRaWAN enabled energy meter called the HotDrop. Each meter can be safely installed in less than two minutes without wires, batteries, or the need to de-energize circuits, and is small enough to fit in the palm of your hand. Each meter is securely cloud-connected to enable real-time data insights. Vutiliti leverages this location-specific information to allow customers to improve their energy efficiency performance, reduce their carbon footprint, and lower their utility bills."
Steve Ellis, CEO and Founder of Vutiliti, said, "We are leveraging and refining IoT to transform that data into actionable information that benefits our customers’ bottom-line and sustainability performance. This technology will also enable faster development of energy efficient innovations."
Jorge Acevedo, Senior Vice President, Generation Innovation & Strategy for Constellation, said, "Our investment in Vutiliti supports Constellation’s goal to continuously explore solutions that help our customers better understand their energy usage and reduce their carbon footprint. Vutiliti has developed a platform that provides access to data that is valuable to retail energy providers, energy managers, utilities, energy service companies (ESCOs), and smart home integrators, and has the potential to unlock numerous opportunities for Exelon to better serve its customers."