Friday, November 02, 2007

Power grid efficiency expert Optimal Technologies raises $ 25M from Goldman Sachs

Series B Financing Will Enable Optimal to Complete Solutions that Drive Efficiencies Throughout Power Systems.
Optimal Technologies International Inc. today announced that it has secured $25 million in financing from Goldman Sachs International to accelerate its growth and expand its market presence. The investment will allow Optimal to continue building out its product offering for energy utilities, businesses and consumers. Specifically, Optimal will complete the development of its technology that optimizes electric power systems from origin to end-user. The investment includes an immediate payment of $13 million to be followed by milestone payments over the next 12 months.
Optimal’s product suite includes supply side electric power grid optimization and analysis software, called AEMPFAST™ (pron: aim-fast), and a demand side energy efficiency and automation system called SUREFAST™, to be launched in 2008.

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