Intel invests $US10 million in green technology companies

Investments are made to develop technologies that can reduce electricity bills and greenhouse gas emissions
  • (IDG News Service)
  • — 30 July, 2009 04:36

Intel has invested $US10 million in five companies that develop technologies to reduce electricity bills and greenhouse gas emissions in homes and data centers, the company said on Wednesday.

Intel Capital, the company's investment arm, has invested in companies that develop technology to enable active monitoring of electricity usage.

It has also invested in companies that enable better demand and supply of energy to homes and data centers.

The investments were made by Intel as part of its Open Energy Initiative, which brings smart energy technologies to consumers, enterprises and utilities.

Intel has already invested up to $US100 million in the clean technology space, said Steve Eichenlaub, a managing director at Intel Capital, during an event in San Francisco.

Intel has invested in U.S. companies including CPower, which focuses on smarter grids, Grid Net, which focuses on technology going into smart meters, iControl, which focuses on home automation, and Convey Computer, which enables on energy efficient high-performance computing.

Intel Capital has also invested in Irish company Powervation, which focuses on digital power control.

Intel is also partnering with utilities on smart grid pilots, Eichenlaub said.

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Agam Shah

IDG News Service
Topics: green IT, Venture capital, intel
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