Copper Labs Raises $5.5M in Series A Funding to Help Utilities Take Control of Energy Demand and Accelerate Grid Modernization
Utilities are trying to earn customer trust via personalized experiences while simultaneously grappling with an increasingly decarbonized, decentralized and digitized grid. Copper is a patented solution that provides utilities with revenue-grade, real-time intelligence without the need for expensive overhauls that take years to start delivering value. “For water and gas utilities that can only access meter data every thirty days, or electric municipal and cooperatives that lack the resources of larger investor-owned utilities, Copper and our partners deliver an affordable path to a smarter grid by leveraging existing meters and data backhaul networks, with or without smart meters. Data is the key to building a more resilient grid and engaging the right consumers at the right time to create load flexibility,” said Dan Forman, CEO of Copper Labs. Sharing Copper Labs’ disruptive vision for grid modernization is its newest board director, Nora Mead Brownell, who previously served as Commissioner at FERC and president of the National Association of Regulatory Utility Commissioners (NARUC), and today is the co-founder of Espy Energy Solutions, an energy consulting firm and a Venture Partner with Clean Energy Ventures. “The Copper Labs team is on a mission to help utilities plan for a future with strained and limited resources all while recreating delivery systems fit for purpose. I’m excited to support the team as they empower customers and partner with mature industries adapting to rapidly changing externalities for a more sustainable future,” Brownell said. CLICK HERE to read the full press release. |