WASHINGTON /PRNewswire/ -- Current Group LLC announced that it has entered into an agreement with Tendril Networks, creator of the Tendril Residential Energy Ecosystem (TREE), an open standards–based home energy management platform for utilities, energy retailers, and their consumers, to offer interoperable solutions that will maximize the efficiency of the electric distribution system and empower customers to be efficient in their electric usage.
The Tendril relationship demonstrates the commitment by both companies to deliver solutions that integrate Current's industry-leading advanced sensors, communications, and analytics for the electric distribution system, with Tendril's comprehensive suite of energy management applications and family of in-home hardware. Such partnerships ensure that utilities can invest in proven technologies that exemplify the power of smart grid, as well as ubiquitous, high-speed, secure, two-way communications and sensing, from the distribution grid to the utility back office, extending into the customer premise.
"Tendril's industry leading customer energy management works seamlessly with the Current Smart Grid network through the power of IP standards. This partnership demonstrates the power of open standards to enable smart grid pioneers, such as Tendril and Current, to integrate their solutions to form an even more powerful and complete solution for utilities and their customers," said Ray Gogel, President and COO, Current Group.
"Current is a company backed by solid investors and has been at the forefront of smart grid innovations around communications, sensing, and monitoring, in both hardware and software, and will continue to develop solutions that are innovative and industry-leading. Tendril is pleased to partner with Current as we continue to build the ecosystem that will enable the smart grid," said Tony Bamonti, Vice President of Business Development, Tendril.
Current Group LLC delivers innovative and industry-leading intelligent solutions that optimize the distribution system and offer utilities new ways to monitor and manage the health of the grid. Through CURRENT's distributed sensing, monitoring, communications, and analytical technologies, utilities are better able to understand, predict, and respond to system disturbances and faults, identify where inefficiencies are, and enable the smartest possible sourcing and distribution of power by the utility to their customers.
Current's state-of-the-art technologies are being implemented by utilities around the globe. Current is a member of the Xcel Energy SmartGridCity consortium that also includes Xcel Energy, Accenture, Schweitzer Engineering Laboratories, Ventyx, GridPoint, OSIsoft, and SmartSynch. Xcel Energy's SmartGridCity is using the fully integrated Current Smart Grid solution that combines advanced sensing technology with two-way real-time communications, 24/7 monitoring, and enterprise analysis software and related services to provide Xcel Energy with location-specific, actionable intelligence on its electric distribution grid. Current is also engaged in European Union-sponsored projects in partnership with Iberdrola, the world's fourth largest electric utility, among others, to expand the use of Smart Grid technology in the European Union. This year, Current was honored by the World Economic Forum as a 2009 Technology Pioneer and selected by Dow Jones as one of the top 10 most innovative clean technology companies in Europe.
Current is a private company that is backed by leading investors, including Liberty Associated Partners, EnerTech Capital, Google Inc., and Goldman Sachs & Co. Current is headquartered outside of Washington, DC, with offices throughout the U.S. and in Zurich, Switzerland, and has representation in Australia, Brazil, and Singapore.
About Tendril Networks
Tendril Networks enables true 21st century energy efficiency by establishing a dialogue between consumers and their energy providers. The TREE is comprised of a comprehensive suite of energy management applications (such as Demand Response, Energy Efficiency, and Pricing) and a suite of in-home hardware (such as thermostats, in-home displays, and smart outlets) that are extended to consumers and utilities over an open and standards-based platform that guarantees secure, auditable transactions and enterprise-class communications. TREE is a consumer-centric ecosystem designed to integrate seamlessly with a utility's or energy retailers` existing back office applications and network infrastructure, allowing consumers and their energy companies to communicate, collaborate, and create—Smart Energy for Life. Tendril is venture backed by VantagePoint Venture Partners, Good Energies, RRE Ventures, Vista Ventures, and Appian Ventures.