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Nexgrid Secures $1 Million in Private Equity Funding

Nexgrid, LLC, the leading provider of standards-based smart grid solutions, today announced that it has successfully completed its first round of private equity financing, raising $1 million.

6/8/2010 - Intelagrid, LLC, the leading provider of standards-based smart grid solutions, today announced that it has successfully completed its first round of private equity financing, raising $1 million. The company will use the proceeds from this financing round to expand its software development and sales teams as well as strengthen its customer support capabilities. The funding was provided by a group of investors from Richmond, VA with strong entrepreneurial roots and well-rounded strategic capabilities including finance, operations, accounting, marketing, and legal.

"Intelagrid has created a disruptive solution that will change the way utilities and their end customers manage and monitor electricity usage. We are excited to be involved with such an innovative company and look forward to continuing to provide strategic support as well as future capital needs as the company continues to grow", said Mark Jones, CPA, Mst of Mark A. Jones & Associates, PC -a leading professional services and consulting firm based in Richmond, speaking on behalf of the investment team.

About Nexgrid


Nexgrid, LLC is a US based company that provides an end-to-end solution for wireless smart grid and advanced metering.  Nexgrid's products provide utility companies and consumers the ability to manage and monitor their smart grid and smart home networks.  Nexgrid's solutions  utilize high speed, 100% standards-based communications providing real-time data that enables energy management and utility operations.  In addition to advanced metering of electric, water and gas, Nexgrid manufactures load control devices, capacitor bank controllers, thermostats and street light control hardware.  Lastly, their ecoOne enterprise software provides meter data, network, load control, street light, outage and customer portal management all in one easy to use platform.

For more information, visit: www.nexgrid.net.

Media Contact
Erin Turner
erin.turner@nexgrid.net
888-556-0911 ext 1001