Trilliant Raises $40 Million

Trilliant Inc., a Redwood City, Calif.-based smart grid startup, has raised $40 million from MissionPoint Capital Partners and Zouk Ventures. 

PRESS RELEASE

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: