Tendril, the developer of the first integrated software/hardware platform to enable real-time, two-way communications between utilities/retailers and their customers on energy supply and consumption, is broadening its smart grid relationship with General Electric Company (GE) beyond appliances with an equity investment by GE Energy Financial Services.

GE Energy Financial Services is treating the venture capital investment as a follow-up to Tendril’s announcement in June that it raised $30 million in Series C funding, making it one of the best-funded energy management startups.

The Tendril Residential Energy Management Ecosystem (TREE) is designed to help utilities operate more efficiently to improve customer service and comply with new regulatory requirements.

GE’s investment builds on its appliances partnership with Tendril. GE Consumer & Industrial and Tendril announced in July that they would integrate the TREE Platform to work with GE’s dryers, refrigerators, washing machines and other appliances. GE appliances such as stoves, washers and dryers, dishwashers and refrigerators will communicate their power needs to the utilities in real time. The utilities can then redistribute power as needed more efficiently.

Tendril is a strategic complement to GE’s suite of ecomagination and smart grid investments and products, with multiple commercial and technology development opportunities for collaboration.

In other smart grid initiatives, GE Energy Financial Services has made a venture capital investment in Grid Net, a leading provider of open, interoperable, policy-based network management software and communications products for the utility industry’s smart grid.

GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its more than $22 billion in assets. Major competitors of GE are Koninklijke Philips Electronics NV (PHG), Citigroup Inc. (C) and Siemens AG (SI).

We currently have a Neutral recommendation on General Electric.

Zacks Investment Research
View original at: Zacks.com News Feed

1. (IBM) IBM, Cisco Line Up Smart Grid PartnersInternational Business Machine (IBM) and Cisco Systems (CSCO) recently announced the selection of Smart grid...
2. (GE) General Electric Bags $1.3 Billion Kuwaiti ContractGE Energy announced that the Kuwait Ministry of Electricity and Water has signed a turnkey...
3. (SI) Siemens Eyes Smart Grid OrdersSiemens AG (SI) has targeted orders worth more than 6 billion Euros for intelligent power...
4. (AEP) American Electric to Tap Fed FundsAmerican Electric Power Co. Inc. (AEP) yesterday requested for $75 million in federal stimulus funds...
5. (GE) General Electric to Sell Security BusinessGeneral Electric (GE) is arranging to sell its security business, which makes alarms, surveillance systems...
6. (GE) General Electric Wins Contract for Kuwaiti Power PlantThe Ministry of Electricity and Water in Kuwait recently selected General Electric Co. (GE) for...

Search Posts by Tag: C | Citigroup Inc. | GE | General Electric Company | Koninklijke Philips Electronics NV | PHG | SI | Siemens AG | TREE | Tree.Com Inc | Conglomerates

RSS Feeds by Tag: C | Citigroup Inc. | GE | General Electric Company | Koninklijke Philips Electronics NV | PHG | SI | Siemens AG | TREE | Tree.Com Inc | Conglomerates |

Other Posts by: vitalstocks | RSS Feed for this author