Boulder, Colo. – October 19, 2010 — Tendril announced today that it has purchased Massachusetts-based GroundedPower and secured an additional $23 million in investment. The strategic acquisition and additional investment will accelerate the development and roll-out of Tendril’s comprehensive end-to-end energy management and consumer engagement solution for energy providers.
GroundedPower is the creator of the Interactive Customer Engagement System (iCES) for consumer-driven energy management and efficiency. After researching the leading companies in the marketplace that develop consumer engagement software for the Smart Grid, Tendril acquired GroundedPower because of the company’s behavioral-based approach and validated results, according to Tendril CEO Adrian Tuck.“Our customers demand real, proven solutions for engaging consumers and enabling sustainable results for their Energy Efficiency programs. We researched the marketplace and selected GroundedPower because of their third-party validated, proven methodology for achieving world-class, behavioral-driven Energy Efficiency,” Tuck said. “As a result of this strategic acquisition, we can offer utilities an even more robust energy management solution, adding behavioral-based Energy Efficiency applications and services into Tendril’s proven, scalable, open platform.”
Founded in 2008, GroundedPower delivers an interactive customer engagement system for real-time consumer driven energy management and efficiency for both utilities and consumers. GroundedPower’s iCES combines real-time energy monitoring with an integrated suite of consumer engagement and behavior change tools that brings the user into an intuitive and interactive world of Energy Efficiency.
“GroundedPower brings proven and industry-leading methods of creating persistent behavioral Energy Efficiency together with an exceptional user-centered design team. It is this combination of behavioral science applied to Energy Efficiency and a demonstrated passion for user-design excellence that makes GroundedPower a valuable addition to the Tendril platform and team,” said Greg Kats of Good Energies, a Tendril investor.
GroundedPower brings Tendril an industry-leading method of creating persistent Energy Efficiency and a user-centered design team trained at NYU and Microsoft Advanced Labs. Learn more in this interview with Tendril CEO Adrian Tuck discussing the acquisition.
