Broadband Energy Networks Announces Coactive Acquisition
UPPER DARBY, PA. – Broadband Energy Networks (BEN), a privately held developer of networked energy information and control systems, today announced that it had recently completed the acquisition of the major assets of Coactive Networks, Inc., a California-based Gateway company.
Coactive, which raised over $42 million from leading Venture Capital investors, pioneered the development of a low cost gateway that communicates via telephone or the Internet, to control thermostats and other devices in a home or business via powerline communications (PLC), RF or hardwired connections.
Larry Silverman, the President of BEN, said “When we heard that Coactive was available, we jumped at the chance to acquire this innovative gateway and field-proven head-end web technology. Coactive successfully completed numerous pilot programs, demonstrating the reliability and ease of use of its hardware and software. Their large-scale trials with Vatenfall, Sweden’s national electric utility, established Coactive as the leader in field-deployable energy information monitoring and control.”
“Coactive consistently led the market for gateways to enable automated control of energy appliances, and we believe that recent rapid changes in wholesale electric, and resultant increased focus on Demand Response, indicate that this technology has a bright future,” said Silverman. “On days when electric prices jump to 10X the average price, or more, it pays to reset thermostats on air conditioning and curtail use of pool pumps and electric hot water heaters, and dim office lighting.”
“BEN has greatly extended the IO Connect web server infrastructure and modified and expanded the Coactive Connector 2000 architecture, providing additional communication capabilities and connectivity, to enable new services and applications that offer compelling benefits to users.”
About Broadband Energy Networks
Based in Philadelphia PA, Broadband Energy Networks (BEN) develops advanced broadband and internet-enabled technology, monitoring and control systems and applications for utilities and their customers. BEN’s LightMedia Interactive Division provided energy management software used successfully by utility DSM trials in 1995-99, including over 2,500 homes and businesses with CSW, Southern, Detroit Edison and EPRI. In early 2003, BEN acquired the assets of Coactive Networks, a venture-backed company that successfully produced innovative networking software and gateway technology to connect electrical devices and their utility-provided electric infrastructure to the Internet.
During 2004-2005, Broadband Energy will introduce its scalable, open-standard systems, incorporating all elements of hardware and software as well as end-user services and support, for a series of trials and deployments with selected energy, broadband and communications partners.