Irvine-based clean energy startup GreenWave Reality Inc., which was started last year by a pair of Cisco Systems Inc. executives, said Wednesday it landed an $11 million investment.
GreenWave makes what’s called “smart” energy products and software that help consumers monitor and control appliances that use electricity in the home.
It makes specialized displays, so-called “intelligent” power strips and light-emitting diode bulbs that tie in with monitoring software.
GreenWave is set to use the money to expand pilot programs with its customers, who are primarily utility companies in Europe, where energy consumption monitoring is mandated by law.
“We are actually getting tremendous traction in Europe,” Chief Executive Greg Memo said. “In Europe there are regulations that mandate smart meters and in home displays to monitor energy usage.”
For more on GreenWave, see Monday’s edition of the Business Journal.
