Intel Makes US$10 Million Investment in Cleantech Companies

Santa Clara, California-based Intel, the world's leading chip maker, has recently announced that it has invested, through Intel Capital, its global investment organization, into 5 clean technology companies, reaffirming the chip maker's commitment towards the adoption and development of green energy efficient solutions. The investment, which totals approximately US$10 million, spans over two continents and includes the U.S-based CPower, Grid Net, Convey Computer, iControl and the Limerick, Ireland-based Powervation.

“Intel Capital has made a significant commitment to invest in the cleantech sector in recognition of the increasing need for alternative energy production and advanced energy management and utilization solutions,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “The global nature of these five investments demonstrates our focus on accelerating cleantech innovation, emphasizing Intel Capital’s unique strength as a global, stage agnostic investor.”

Intel has created Intel Capital to enable the chip maker to invest in innovative technology start-ups and companies worldwide. Such is the case with the most recent announcement, with Chipzilla having seen the opportunity in five startup companies that are focused on delivering solutions for enabling an increase of energy efficiency in different industry segments. As an example, the New York-based CPower is focused on delivering energy management services and solutions that are meant to allow companies to optimize their facilities and operations through energy reductions, consequently earning market payments for their reductions.

“These investments share synergies focused on accelerating adoption of Smart Grid technologies, fostering energy efficiency and performance in ways that benefit consumers of electricity and power utilities as well as complement Intel’s strategic objectives,” said Steve Eichenlaub, managing director of platform technologies, cleantech and digital health, Intel Capital. “Each investment underlies Intel Capital’s commitment to invest in cutting edge technologies and support our expanding portfolio of cleantech-related companies.”