Top Talent and Affordable Real Estate Bring Leading Smart Grid Company to Providence
Published on June 5, 2012
Rhode Island stands to be at the forefront of emerging energy efficiency technology, as Utilidata, Inc. today marked its arrival in the Ocean State with the opening of its new Providence headquarters. The company anticipates creating 47 highly skilled technical jobs by 2015 to support the launch of its AdaptiVolt solution, the first in a series of new grid-scale applications to optimize energy delivery.
Utilidata provides advanced automated energy conservation and management technology solutions for electric utilities and major electric consumers. The company relocated from Spokane, Washington to Providence after receiving venture capital financing from Braemar Energy Ventures and a $500,000 loan from the RI Renewable Energy Fund. "Rhode Island is a great place to partner with government to make innovative things happen and is simply a smart place to do business," said Scott DePasquale, Executive Chairman of Utilidata and a Partner with Braemar Energy Ventures. "By locating in Rhode Island, we not only have regional proximity to a highly skilled technical workforce, but because the cost of real estate here is considerably less compared with other high tech areas we are able to put more capital into human resources rather than bricks and mortar."
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