Retail Supplier Receives $100,000 Investment, $280,000 Grant

The Slater Technology Fund announced that it has committed an additional $100,000 to VCharge, an energy management services company whose operation includes retail electric supply in competitive markets, as part of their $1-million dollar round, bringing Slater's total investment to $600,000.

Slater also announced that the Rhode Island Economic Development Corporation's Renewable Energy Fund (REF) recently awarded the company with an additional $280,000 grant.

VCharge has developed an electric thermal storage (ETS) heating system (called SmartBricks) and has installed them in homes and businesses in Pennsylvania, Maine and Massachusetts. In Pennsylvania, VCharge offers the solution as a retail electric supplier.

Slater said that VCharge's cloud-based Transactive Load platform allows electric thermal storage heaters, electric cars, and other devices to participate intelligently in electricity markets.