VCharge, a Barrington, RI-based energy management services company, has raised $1.9m in funding.
Backers include the Slater Technology Fund, Clean Energy Venture Group, Launchpad Venture Group and EOS Ventures.
The company intends to use the funds for technical development and improve its core product, as well as for additional hires.
Led by CEO Jessica Millar, VCharge has developed a patented cloud-based Transactive Load platform, which allows electric thermal storage heaters, electric cars, and other devices to participate intelligently in electricity markets.
The company recently appointed Gene Zimon, former CIO of Massachusetts utility NSTAR and current president of entrepreneur consulting firm EDGE Advisers, to its board of directors.
FinSMEs
06/12/2011