Government Supports Green Tech Company's Push to Develop Energy Efficiency Products
PALO ALTO, CA--(Marketwire - August 17, 2010) - People Power Company, an energy efficiency company providing monitoring and control systems for homes and businesses, announced today that it has been awarded a SBIR (Small Business Innovation Research) Phase II ARRA grant from the U.S. Department of Energy. The company will use the funding to bring its energy efficiency products to market for residential customers.
"As an investor focused on clean technology, I see growing interest in energy efficiency and many great entrepreneurs building products that enable it," said Charlie Finnie, Managing Partner at Greener Capital and member of the Board of Directors at People Power. "It is exciting to see that the government is also investing in businesses that promote a green economy."
Today's news marks the second consecutive year that People Power Co. has been awarded an SBIR grant by the U.S. Department of Energy. In 2009, the company was one of six applicants chosen for a Phase I grant for manufacturing smart controllers, making the company eligible to compete for Phase II in 2010. This year, the Department of Energy evaluated 113 grant applications, selecting People Power Company as one of 53 to receive a special SBIR Phase II ARRA grant with funds appropriated by the American Recovery and Reinvestment Act of 2009 (ARRA).
"We are on the road to developing smart, energy-saving products and winning this grant brings us one step closer to our goal of making energy reduction easy for everyone," said Gene Wang, Founder and CEO of People Power. "The backing we've received from the government and private investors, as well as continued support from Intel, IBM, Stanford and U.C. Berkeley is great validation for our technology and company direction."
People Power Co. offers a way for people to monitor and control energy consumption at the appliance level, ultimately driving down energy bill costs while reducing carbon emissions. The company announced its Technology Advisory Board last month and unveiled its SuRF Developers Kit earlier this year.
The SBIR Program was established to provide funding to stimulate technological innovation in small businesses to meet federal agency research and development needs. Through its competitive programs, SBA ensures that the nation's small, high-tech, innovative businesses are a significant part of the federal government's research and development efforts. Eleven federal departments participate in the SBIR program. For more information, please visit http://www.science.doe.gov/sbir/aboutSBIR.html
For more information about People Power Co. please visit www.peoplepowerco.com
About People Power Company
People Power Company is building the next generation of energy efficiency monitoring and control solutions for homes, buildings, appliances and devices. People Power is disrupting the market with its new Open Source Home Area Network (OSHAN), while also supporting "WiFi" and "ZigBee" network protocols. Leading with its open source "SmartGrid for All" philosophy, People Power is inspiring innovation and enabling Smart Grid interoperability by empowering developers everywhere to address exciting new market opportunities for Smart Grid applications and beyond.
Based in Palo Alto California, People Power Company has received funding from New Cycle Capital, Greener Capital and other investors. For more information visit www.peoplepowerco.com
Kulesa Faul for People Power Company