Shelburne-based FreshTracks Capital announced recently that it has joined other Vermont investors in supporting the Kentucky-based clean-energy firm Virtual Peaker as it grows.
Virtual Peaker is a cloud-based energy management platform that is helping utilities build the grid of the future, according to a statement from FreshTracks.
“It’s incredibly exciting and validating to receive funding from investors in Vermont, a state that is leading the way on innovation and is so deeply committed to the future of energy,” said Bill Burke, Virtual Peaker’s chief executive.
The 2016 winner of Green Mountain Power’s Inspire Space Contest in Vermont, Virtual Peaker is working with Green Mountain Power to help customers be more efficient.
“Virtual Peaker is offering real-world solutions to directly benefit the customers we serve,” said Josh Castonguay, vice president of Innovation for Green Mountain Power.
That made Virtual Peaker an attractive investment, said Cairn Cross, co-founder of the FreshTracks venture capital investment fund. “The Virtual Peaker team has demonstrated an ability to develop great device control and management technology and commercialize it in a way that creates value for utilities,” Cross said.
Based in Louisville, Virtual Peaker is working with utilities to help monitor customers’ energy consumption trends to provide information to improve efficiency.