RICHMOND, Va., Aug. 17, 2011 /PRNewswire/ — GRID2020, Inc., a leading energy management, control, and communications solutions company, announced today that it has completed a year long process of strategic acquisition and licensing to provide Real-Time Smart Grid solutions and communications with a contract purchase and licensing agreement with IBEC Global resulting in a new, independent Smart Grid technology company focused on Real Time Solutions.

“In less than one year, we have successfully progressed through the acquisition and strategic licensing stages to now become a Smart Grid company with a Real-Time Solution focus,” announced Alan Snook, President of GRID2020. “We look forward to fulfilling many emerging Smart Grid needs of utilities, metering companies, SCADA providers, consumers, and commercial enterprises given our dynamic array of products and services. We are committed to helping others curb electricity costs and facilitating a segment of the Smart Grid revolution.”

The announcement comes four months after GRID2020 acquired Toronto-based Kinects Solutions, Inc., a pioneer in transformer monitoring technology. “Our multi-dimensional, installer-friendly Distribution Transformer Monitors will be a key component of our strategy to identify electricity pilferage, assist utilities to understand electric vehicle charging impacts, and enable valuable asset management solutions,” Snook noted.

On its energy management side, GRID2020 uses a cutting-edge monitoring hub, wireless thermostats, and load meters to monitor and control energy consumption in real-time. Customers interact via a secure Web browser interface and can use their Smartphone or any other Web-enabled device to control their own thermostats and water heaters.

Dan Hermes, Director of Business Development for GRID2020 commented, “In today’s clean tech world we feel it is important to empower consumers to manage their energy usage, save money, and preserve energy resources.”

A similarly valuable suite of offerings enables utilities to actively participate in cost-saving demand response functions. “GRID2020 provides power monitoring and management solutions enabling utilities to lessen electricity costs, improve their information access capabilities, and understand the complex challenges associated with escalating demand,” Hermes added. “GRID2020 offers virtual power plant control capabilities to achieve load reduction, monitor assets, and control energy demand.”

GRID2020 has secured licensing agreements to use IBEC Global’s ground-breaking Broadband over Power Lines (BPL) technology and platform.

Applying virtually any combination of GRID2020’s energy management solutions, stand-alone dynamic electricity monitoring devices, and robust communications options—including Wi-Fi, GSM and BPL—utilities around the world can create targeted solutions, or broad-based deployments of effective Real-Time Smart Grid communications networks. Where needed, GRID2020 deploys the same FCC-approved BPL technology that has been successfully deployed in rural America to create an open standards communications pipe using existing grid infrastructure.

IBEC Global’s success and customer demand for integrated Open Standard Smart Grid Applications set the stage for GRID2020’s stand-alone evolution.

SOURCE GRID2020