Power Tagging selected for multiple conferences showcasing its rapid growth
Power Tagging, a leading provider of next-generation Smart Grid communication technologies has been selected to present its business plan at the VCIR and the CleanTech Forum. The selection of Power Tagging follows a year of rapid growth and market traction. Power Tagging's success is built on its focus on delivering Smart Grid solutions that deliver a strong rate of return for utilities, energy savings for consumers and flexibility for the future. Power Tagging has taken a fresh, unique approach to the smart grid as is evidenced by its support from large industry players.
By creating a platform for true grid intelligence, Power Tagging has enabled a host of applications, not technically possible, or financially feasible in the past. The company has developed a patent pending technology for tagging or fingerprinting energy on the power grid. This embedded grid intelligence provides foundational benefits for Smart Grid applications including Distribution Automation, Conservation Voltage Regulation, Demand Side Management and Fault Isolation and Resolution. In addition to a National Science Foundation (NSF) grant, Power Tagging previously raised $5 million dollars in its "A" round of financing from large strategic investors.
"Power Tagging is expanding its investor base to support its rapidly growing market deployments and build out its solution partnerships and portfolio," said John LoPorto, President and CEO. "Power Tagging is excited to bring new levels of grid intelligence to its utility customers and their consumers."
To accelerate the migration to a Smart Grid, Power Tagging has successfully piloted its offering with four electric utilities. These utilities are seeking a Smart Grid without the need to capitalize a new, secondary communications network but rather, leverage the existing infrastructure to reduce the cost of deployment. Along with affordability, Power Tagging's Grid Location Aware solutions bring a host of benefits that make the electric grid inherently smart.
"We are excited that Power Tagging Technologies will be presenting as part of our Entrepreneur Showcase. Their unique solution creatively addresses the challenges utilities face in controlling distribution resources and speaks directly to the convergence of cleantech and IT that we are seeing in the marketplace." Sheeraz Haji, CEO of Cleantech Group.