SparkMeter Raises $10 Million to Accelerate Growth in the Implementation of its Advanced Metering Solution Globally
Summary
Led by Accurant International, the funding will enable SparkMeter to introduce a comprehensive grid analytics platform, based on intelligent metering, to the market. "Its the most economical solution available to utilities in emerging markets when it comes to data reliability in places with low bandwidth internet, while also providing meter to cash capabilities and in-depth grid analytics." "SparkMeter has been very successful in the microgrid sector, and its latest technology development will enable the expansion of reliable power to distribution utilities in the same underserved regions," said Carmichael Roberts of Breakthrough Energy Ventures. Utilities around the world face the challenge of providing electricity via aging and deteriorating grid assets while meeting growing customer demand, which often results in unreliable energy access. SparkMeters technology helps utilities improve their reliability and collections, which accelerates the retirement of expensive and dirty diesel generators while deploying cleaner sources of energy.
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