BOULDER, Colo.—Tendril Networks Inc., which develops residential energy management systems, says it expects to have about 140 employees by the end of 2009, up from 17 at the beginning of this year.
CEO Adrian Tuck said the private, Boulder-based company has about 60 employees currently. He said the company raised $12 million in funding this spring.
Tendril announced Tuesday the availability of a system to help homeowners and utilities track—in near real time—individual electricity consumption, how that would affect their bills, and how their usage compares with others. Tendril is talking with utilities that could provide the system to customers.
The Tendril Residential Energy Ecosystem, or TREE, includes software that residents can use to monitor their consumption on the Web or on a display in their home. Tendril also is offering programmable thermostats and “smart” outlets that can be programmed to power down televisions or other appliances if electricity prices cross a certain threshhold.
A number of utilities around the country are testing programs to charge higher rates at times of peak demand, with offerings of “smart meters” made by various companies to help customers track power usage.
Tuck said if customers know how much leaving an idle computer on is costing them each day, they will use less electricity. Lower customer demand for electricity means utilities won’t have to build as many new power plants, Tendril contends.
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