Conshohocken's Viridity Energy, Targeting Smart Grid Solutions, Applies For Stimulus Funds
A Conshohocken startup, Viridity Energy, is seeking to help the US implement "Smart Grid" technology solutions. The one year old company, which has been working on tests with Drexel, PECO, and New York's Con Edison, among others, last week joined with several other companies partnering with Con Ed in applying for $46 million under the Federal Stimulus plan to fund a smart grid demonstration project. In Pennsylvania, Viridity also applied for a grant with Drexel , Penn State, the University of Pennsylvania and PECO. Other grant applications involving Viridity were filed in California and New Mexico.
Viridity uses a power management system developed by the energy unit of Siemens AG, complemented by its own technology, to implement what it calls "Virtual Power Plants". These enable an organization to manage its collective physical plant's energy use on a near real-time basis, buying to meet peak energy needs and selling excess production back onto the grid. Founded by utility veterans including former execs of Valley Forge grid management giant PJM , Virdity employs 11 people and is primarily funded by AltEnergy,LLC. President & CEO Audrey Zibelman was formerly EVP & COO of PJM.
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