Singapore, February 4, 2013 - Lowering the cost of smart meter installation and maintenance and improving the reliability of data communications across the power grid, gridComm Pte Ltd today announced it has completed its incubation financing, raising S$689,000. Singapore-based Get2Volume led the round, with Singapore's National Research Foundation (NRF) and angel investors.
"Power line communications is a key enabling technology to smart grid communications, and a core green initiative worldwide," said Mike Holt, CEO of Get2Volume. "gridComm products enable robust communications in noisy power line networks. We are excited to incubate and fund gridComm to address industry in power line communications solutions."
gridComm has recently announced its GC9100 power line communications module and GC9200 DIN rail modem, providing the industry's most robust, reliable power line communications. "We see significant demand for our power line communications modules for smart grid, street lights and industrial control applications," said TL Nge, gridComm vice president of marketing and sales. "This funding allows gridComm to meet this growing demand for gridComm power line communications devices."
gridComm leads development of intelligent machine-to-machine communication on the evolving power generation and distribution grid to establish greater efficiency and productivity in energy delivery to world's increasingly integrated and demanding economy. gridComm provides the components that enable communications over the power grid, enabling "smart grid" and "smart home" communications. Smart grid deployment is a significant and fast growing market with 700 million nodes (smart meters, LED street lights, connected appliances) being deployed over the next 5 years (market growth for such components is $3B). gridComm is in production with its power line communications modules and devices (with networking software to implement an "internet of things" over power lines).