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GridPoint Clears $15 Million New Investment

Monday, March 31, 2008 5:57:00 AM PDT | VentureDeal Staff
WASHINGTON, DC -- Energy IT company GridPoint Inc. announced that it has received $15 million additional venture capital investment, bringing the total raised by the company to $102 million since 2003.

GridPoint operates a system that enables utilities to purchase electricity at nonpeak prices to store for deployment during peak demand hours.

The Quercus Trust made the investment.  The company did not disclose how it would use the funding, but made several key executive hires concurrently with the funding announcement.

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