Verdeeco At a Glance
In recent years, the deployment of smart meters and new sensor technologies within the nation’s energy grid has generated a “data tsunami” of sorts. Meters that previously collected data once a month now send it every few minutes – inundating utilities offices with real-time information on electricity consumption and grid operations.
In response, a group of utility industry technology veterans in Atlanta began searching for ways to transform the data flood into actionable information for both energy producers and consumers – and a new startup was born. Founded in 2009, Verdeeco is a smart grid analytics company offering big data solutions for utilities. Their mission: to help electric, gas and water utilities capture and utilize the petabytes of data generated from smart meters to improve business efficiency, quality and reliability.
“We realized utility companies were not equipped to handle the almost overnight change in the massive amounts of data that was coming in,” said Brian Crow, Chief Operating Officer of Verdeeco. “In addition to not being prepared to manage the amount of data, there were also no processes in place to take the data and turn it into valuable insight. So we developed a platform that could help utilities realize that potential.”
The ATDC Select member company’s cloud-based platform combines meter data with other utility information like asset information, weather data and substation performance. The technology has drawn positive reviews from those in the industry, recently winning the “Vendor to Watch” award at the 2012 Rural Smart Grid Summit.
With a group of Southeast-based utilities now on the client roster – and armed with $800,000 in funds from several angel investor networks – Verdeeco leaders are looking to the future: one they hope will bring continued growth and interest in smart grid technology.
“We are working to build a national presence with customers from coast to coast. We believe we can grow our client base to about 50 utilities nationwide in the next two years,” said Crow. “We would also like to help make the Atlanta area a center of smart grid innovation.”