Trilliant Incorporated, a company that develops network solutions for smart grids, has closed a $40 million equity investment from an affiliate of MissionPoint Capital Partners and zouk ventures.
The proceeds from the financing, which was led by MissionPoint, will be used to accelerate Trilliant’s continued growth and market expansion globally. This investment represents one of the largest investments to date in an independent Smart Grid technology provider.
Smart Grid communication infrastructure enables major improvements in energy efficiency and grid reliability, while giving utilities the ability to provide new services and empower customer choice.
In conjunction with this investment, Trilliant also announced the appointment of Mark J. Lewis and Anthony Fox to its Board of Directors. Mr. Lewis is currently a Managing Director with MissionPoint and has close to 20 years of experience in the global energy industry. Anthony Fox is a Partner at zouk ventures.
For more than twenty years, Trilliant has been delivering products, services and solutions that provide utility customers with advanced energy management capabilities. More than 100 utilities have benefitted from Trilliant’s expertise over the years, and many of these utilities are currently partnering with Trilliant today to deploy Smart Grid infrastructure and solutions.
"Trilliant is unmatched in combining innovation with practical experience drawn from deep roots in the energy industry," said Anthony Fox, Partner at zouk ventures. "This is precisely the combination of skills required to grow the Smart Grid and specifically why we chose to invest in Trilliant. We look forward to working with Trilliant as it develops its global presence in the Smart Grid market."
Bill Vogel, CEO of Trilliant, said "Trilliant has a very ambitious goal. We intend to be the leading provider of advanced Smart Grid solutions globally, helping utilities upgrade and modernize their network infrastructure and expand their energy management capabilities with best-in-class, flexible, robust solutions and service. Our partnership with MissionPoint and zouk significantly accelerates that goal."
About Trilliant Incorporated
Trilliant offers a combination of hardware, software and services that serve as the nervous system of the Smart Grid. Since its founding in 1985, the company has been an innovator in the delivery and implementation of advanced metering infrastructure (AMI), demand response, and grid management solutions. Trilliant also offers installation, program management and meter revenue cycle services. Trilliant focuses on providing an array of flexible and robust options for utility companies, ranging from meter, network and IT infrastructures to full or hybrid outsource models. Trilliant has more than 100 utility customers including Duke Energy, E.ON US (Louisville Gas & Electric), Hydro One, Hydro Quebec, Jamaica Public Service Company Limited, Milton Hydro, Northeast Utilities, PowerStream, Public Service Electric & Gas, San Diego Gas & Electric, Toronto Hydro Electric System Ltd., and Union Gas.
About MissionPoint Capital Partners
MissionPoint Capital Partners is an international private investment firm focused on financing the global transition to a low-carbon economy. MissionPoint provides growth capital to energy, industrial and financial services companies that enable cleaner, more environmentally-friendly energy, transportation and industrial infrastructure. MissionPoint’s portfolio of companies are focused on transforming the way business is conducted in the face of a rising demand for cleaner, more efficient generation and use of energy across all sectors of the global economy. For more information visit www.missionpointcapital.com.
About zouk ventures
Founded in 1999, zouk ventures is a London based investment manager focusing on expansion stage capital in cleantech markets as well as renewable and environmental infrastructure opportunities. zouk currently manages two technology funds and invests in solar infrastructure projects through zouk Solar Opportunities Ltd. zouk has been a leading investor in the carbon market for over seven years and is a founding member of the Cleantech Venture Network in Europe. For more information visit www.zouk.com.
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