Power and energy corporation Dominion Resources invested $1m in US-based data centre energy management company Power Assure on Tuesday, bringing Power Assure’s series B round up to $14.5m.
Dominion joins Power Assure’s other series B backers thus far: power and automation company ABB, venture capital firms Judith Point Capital and Draper Fisher Jurvetson, and Good Energies, the investment firm backed by the Brenninkmeijer family.
In total, Power Assure has now raised about $29.8m since its inception, with Dominion’s fellow series B investors all previously backing Power Assure’s series A round.
Mary C. Doswell, senior vice president of Dominion’s alternative energy solutions group, said: "Power Assure provides advanced functionality in managing data centre loads. The ability to manage energy consumption by either shifting demand between geographic regions or reducing demand locally creates opportunities for energy companies to manage load and provide value to customers."
Combined with the rest of the series B capital, Power Assure will use Dominion’s investment to expand the sales and marketing for its data centre energy infrastructure as well as increasing engineering-based investments in the area of smart-grid integration for data centres.