Global investment organisation Intel Capital has provided financing to smart energy software and service provider Nexant as part of a $30m round of investment to stimulate the growth of four technology companies.
Alongside the Nexant investment, Intel Capital has also committed funds to Adaptive Computing, Ciranova and Joyent.
‘A culture of investment is essential to keeping the US on the leading-edge of technology innovation and stimulating economic activity,’ said Intel Capital president Arvind Sodhani.
‘The investments in Adaptive Computing, Ciranova, Joyent and Nexant are the latest examples of Intel Capital’s commitment to advance the next technological breakthroughs by supporting innovation across a variety of sectors from chip design to cleantech to the cloud.’
San Francisco-based company Nexant provides intelligent grid software and clean energy solutions that tackle both energy production and consumption.
The company said it will use the Intel Capital investment, the value of which is as yet undisclosed, to expand its IT and data centre efficiency offerings in order to target the ever-increasing level of energy consumed by data centres across the globe.
The powering of data centres recently hit the headlines when Greenpeace International criticised Facebook for using electricity from coal power producer PacifiCorp at its new data centre in Oregon, urging it instead to switch to renewable energy sources.
The funding was sourced from Intel Capital’s $200m Invest in America Technology Fund that was launched in February to invest in growth-oriented industries in the US.
The fund is part of a $3.5bn initiative to spur US technology development led by Intel with support from venture capital firms.
Since 1991, Intel Capital has invested more than $9.5bn in over 1,050 companies in 47 countries and half of the $327m it invested last year was outside North America.
Copyright © 2010 NewNet
You must be logged in to post a comment.