Virginia Utility Makes $1M Venture Investment in Power Assure

by Terrence Murray - November 30, 2011

A Richmond, Va,-based power generator has recently stepped in with a $1 million strategic investment in Power Assure, the California developer of software that reduces energy use and carbon emissions generated by large data centers.

Dominion Resources invested $1 million in Power Assure as part of the company’s Series B, which now totals $14.5 million.

Dominion, which announced the investment  ahead of the Thanksgiving holidays, says Power Assure’s software will help it  better manage and redistribute the excess power generated by its various data centers.  “The ability to manage energy consumption by either shifting demand between geographic regions or reducing demand locally creates opportunities for energy companies to manage load and provide value to customers,” said Mary Doswell, the head of Dominion’s alternative energy solutions group, in a prepared statement.

 

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