16 Sep 2009   |   News

Nokia spins home energy efficiency centre into a new company

Nokia has spun its domestic energy efficiency centre into a new company, There Corporation, to commerialise energy-saving and smart metering services.


Nokia has spun its domestic energy efficiency centre into a new company, There Corporation, to commerialise energy-saving and smart metering services. There Corporation also includes Comsel Systems, a leading supplier of automated meter reading services. The main partners of There Corporation will be energy utilities, energy meter manufacturers and service providers.

Kaj Rönnlund, CEO of There Corporation, sees the combination of the mobile and platform technology know-how of the Nokia Smart Home team and the experience of the energy grid and metering of the Comsel team as a unique and strong basis to start developing new generation energy solutions. “We are gate openers for our customers, enhancing the value of their client offerings.”

There Corporation is financed by the current management team and the Power Fund II by VNT Management, which specialises in clean technology. “There Corporation’s groundbreaking solution and extensive knowledge background in the smart grid market - estimated to be worth over €40 billion by 2020 - makes it an interesting company to invest in,” said Veijo Karppinen, chairman of VNT. The total funding of There corporation is €4.5 million.

There Corporation’s services will combine Smart Metering, Smart Home and Smart Grid solutions. It initial focus will be on next generation smart metering to improve energy efficiency. This will provide better service and control for end users.

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