Trilliant Incorporated secures $40m equity financing from MissionPoint Capital Partners and zouk ventures
Trilliant Incorporated, a leader in delivering intelligent network solutions that form the nervous system of the Smart Grid, today announced that it has closed a $40 million equity investment from an affiliate of MissionPoint Capital Partners and zouk ventures. MissionPoint and zouk are leading international investors in the low-carbon and clean energy markets. The proceeds from the financing, which was led by MissionPoint, will be used to accelerate Trilliant's continued growth and market expansion globally. This investment represents one of the largest investments to date in an independent Smart Grid technology provider, reflecting Trilliant’s position as a leading provider of Smart Grid communication infrastructure that enables major improvements in energy efficiency and grid reliability, while giving utilities the ability to provide new services and empower customer choice.
In conjunction with this investment, Trilliant also announced the appointment of Mark J. Lewis and Anthony Fox to its Board of Directors. Mr. Lewis is currently a Managing Director with MissionPoint and has close to 20 years of experience in the global energy industry. Anthony Fox is a Partner at zouk ventures.
'We are extremely pleased to be working alongside Trilliant as it helps its customers build out the Smart Grid,' said Mark Lewis, Managing Director at MissionPoint. 'When you look at Trilliant's years of experience successfully developing and delivering advanced Smart Grid technology solutions as well as the quality and breadth of its offerings, it’s clear that Trilliant is a leader in this industry. With this investment Trilliant is set to build upon its already impressive accomplishments both in North America and in key international markets.'
For more than twenty years, Trilliant has been delivering innovative products, services and solutions that provide utility customers with advanced energy management capabilities. Today, Trilliant products and services form the core infrastructure of the Smart Grid, the critical communication system that enables intelligent sensing, communication, and control of utility system elements. More than 100 utilities have benefitted from Trilliant's expertise over the years, and many of these utilities are currently partnering with Trilliant today to deploy Smart Grid infrastructure and solutions.
'Trilliant is unmatched in combining innovation with practical experience drawn from deep roots in the energy industry,' said Anthony Fox, Partner at zouk ventures. 'This is precisely the combination of skills required to grow the Smart Grid and specifically why we chose to invest in Trilliant. We look forward to working with Trilliant as it develops its global presence in the Smart Grid market.'
Announcement of this financing follows several notable achievements by Trilliant in recent months:
Trilliant has now delivered more than 750,000 intelligent devices with integrated communications supporting advanced metering, demand response and other Smart Grid applications
Trilliant, along with its partners, Capgemini, GE and Motorola, was recently recognized at the annual Edison Electric Institute Conference for the completion of major project milestones in the 1.3 million meter Hydro One deployment, one of the largest ongoing advanced metering deployments in North America
Trilliant has also recently announced a strategic relationship with Advanced Innovations Ltd. to support global Smart Grid initiatives. The announcement was made in conjunction with a visit to the U.S. by Ireland Taoiseach Mr. Brian Cowen
'We are honored to have MissionPoint and zouk join us in our efforts to deliver Smart Grid solutions to the global utility industry,' said Bill Vogel, CEO of Trilliant. 'Trilliant has a very ambitious goal. We intend to be the leading provider of advanced Smart Grid solutions globally, helping utilities upgrade and modernize their network infrastructure and expand their energy management capabilities with best-in-class, flexible, robust solutions and service. Our partnership with MissionPoint and zouk significantly accelerates that goal.'
About Trilliant Incorporated
Trilliant is a leader in delivering intelligent networks that enable the transition to the Smart Grid. Trilliant offers a combination of hardware, software and services that serve as the nervous system of the Smart Grid. Since its founding in 1985, the company has been a leading innovator in the delivery and implementation of advanced metering infrastructure (AMI), demand response, and grid management solutions. Trilliant also offers installation, program management and meter revenue cycle services. Trilliant focuses on providing an array of flexible and robust options for utility companies, ranging from meter, network and IT infrastructures to full or hybrid outsource models. Trilliant has more than 100 utility customers including Duke Energy, E.ON US (Louisville Gas & Electric), Hydro One, Hydro Quebec, Jamaica Public Service Company Limited, Milton Hydro, Northeast Utilities, PowerStream, Public Service Electric & Gas, San Diego Gas & Electric, Toronto Hydro Electric System Ltd., and Union Gas. The company is privately owned. For more information please visit www.trilliantinc.com.
About MissionPoint Capital Partners
MissionPoint Capital Partners is a leading international private investment firm focused on financing the global transition to a low-carbon economy. MissionPoint provides growth capital to energy, industrial and financial services companies that enable cleaner, more environmentally-friendly energy, transportation and industrial infrastructure. MissionPoint’s portfolio of companies are focused on transforming the way business is conducted in the face of a rising demand for cleaner, more efficient generation and use of energy across all sectors of the global economy. For more information please visit www.missionpointcapital.com
About zouk ventures
Founded in 1999, zouk ventures is a London based investment manager focusing on expansion stage capital in cleantech markets as well as renewable and environmental infrastructure opportunities. zouk currently manages two technology funds and invests in solar infrastructure projects through zouk Solar Opportunities Ltd. zouk has been a leading investor in the carbon market for over seven years and is a founding member of the Cleantech Venture Network in Europe. For more information please visit www.zouk.com.
For further information please contact:
Philip Tomlin, Investor Relations
+44 (0)20 7947 3421