BOULDER, Colo. (June 24, 2020) — Siemens and Copper Labs today announced that Copper Labs has joined the growing Siemens Connect Ecosystem, which connects experts in this innovative network of business and solution developers.
Increased deployment of intermittent renewable energy is one of the key trends developing in the electric space.
The implications of universal scale wind and solar, as well as customer-sited solar and wind, are both operational and financial for utilities across the United States.
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About a decade ago, the 2009 American Recovery and Reinvestment Act (ARRA) distributed billions of dollars to smart grid projects around the country, with smart meters, or advanced metering infrastructure (AMI) deployments, getting the biggest share.
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Boulder’s Copper Labs is helping utilities become more efficient, providing real-time energy usage data to the consumers and companies with a wireless solution.
The company announced Thursday that it has raised $2 million in new financing to further build out its product and team.
24 Colorado companies were approved to receive Proof-of-Concept and Early Stage Capital and Retention grants, which fund companies commercializing innovative technologies to create viable products that meet a market need and can be created or manufactured in Colorado and exported globally.
One Colorado company – Copper Labs – successfully met all of its performance milestones and was approved for $100,000 of second-round or “transition” funding.
The internet of things (IoT) is a megatrend influencing nearly every industry, and few more so than energy utilities. The confluence of reliable, low-cost wireless technology, greater industrial automation, and data analytics is leading to a more responsive energy grid that lowers costs for both utilities providers and consumers.
Copper Labs, based in Boulder, Colorado, is one company helping make this trend a reality. Founded by IoT veterans, the startup is giving energy a voice through user-friendly energy monitoring devices.
Copper Labs was among the 24 Colorado start-ups approved for funding this year as part of the Colorado Office of Economic Development and International Trade (OEDIT)’s Advanced Industries Accelerator Grant Program.