Smart grid solutions company Trilliant has announced that it has raised $106m of new funding. The leading investors are Investor Growth Capital (part of Investor AB of Sweden), VantagePoint Venture Partners and two grid-related equipment companies, ABB and GE.
Andy White, president and CEO of Trilliant said that the investors would provide Trilliant with " .. the resources to expand our Smart Grid solutions across North America and to a global marketplace. The strength and calibre of our partners will give current and future customers confidence that they have chosen a long-term market leader."
Given the expected growth in smart grid business, it’s no surprise that a leading solutions provider can raise this sort of investment. Trilliant is going to need it to fend of the competition lined up for a slice of the action.
The latest forecast comes from NextGen, part of ABI Research, which predicts that around $46bn will be invested in smart grids worldwide by 2015. Most of it ($41bn) will be in transmission and distribution, with the rest going on smart meters. Larry Fisher, research director of NextGen said that “This infrastructure spending will focus on grid automation and control, distribution automation, distributed generation and demand response programs.” That’s a lot of ICT.