Invested Development Invests in Growing Energy Labs, Inc. (GELI) to Move the Networked Energy Storage Industry Forward
FOR IMMEDIATE RELEASE
July 22, 2013
Boston, MA & San Francisco, CA – Invested Development (ID), a seed-stage investment fund manager, has invested in Growing Energy Labs, Inc. (GELI), an innovative startup developing software for energy storage. GELI’s software integrates, networks, and economically operates energy storage, dramatically increasing the opportunity to bring alternative energy solutions mainstream.
GELI’s Energy Operating System (EOS) allows users to optimize energy storage and usage around key parameters to operate in a variety of applications and settings. With the advent of smart grids representing a multi-billion dollar market, management systems like the EOS are in high demand. Down the road, GELI’s EOS will be the key to optimizing and enabling the efficient use of micro-grids or micro-utilities in off-grid settings.
Further, according to Navigant Research, the installed capacity of wind and solar is expected to grow by 1300 GW over the next ten years. This opens up a significant demand for energy storage and management systems that are crucial to the operation of renewable forms of energy.
The investment comes from the BSP Fund, ID’s equity fund focused on investing in mobile, ICT, alternative energy, and agriculture technology solutions for underserved markets. The firm’s investment thesis fundamentally supports the decentralization of energy production and storage: the centralized grid has repeatedly proven to be unreliable in ways that adversely affect perpetually underserved populations. GELI provides the path to building standards for decentralized energy operations, including clean technology and off-grid solutions, to become efficient and cost effective.
GELI joins ID’s BSP Fund portfolio of twelve companies across Africa, India, Latin America, and the U.S.
About Invested Development:
Invested Development is an impact investment fund manager. The mission of the company is to provide risk capital investments in early stage startups with mobile technology, agriculture technology, and alternative energy innovations for underserved markets. It manages the BSP Fund, an early stage equity fund, and the Impact Factoring Fund, a working capital fund. For more information, visit http://www.investeddevelopment.com/.
About GELI:
Growing Energy Labs, Inc. (GELI) produces the Energy Operating System (EOS) for your energy management and energy business. GELI networks energy storage and develops software for personal and business MicroUtilities, microgrids and energy storage systems. GELI specializes in energy management architectures, power and energy hardware, firmware and web-ware, integrated energy harvesting techniques and integrated energy systems for application and location specific electronics.