Sidewalk Labs Becomes Key Investor to Help VoltServer Make Electricity Safer, More Cost Effective and Efficient
EAST GREENWICH, RI, November 14, 2019 — VoltServer, the inventor of a new form of power called Digital Electricity™, announced today that it has raised a $7.4 million Series A, supported by Alphabet’s Sidewalk Labs. The funding will allow VoltServer to expand its Digital Electricity™ (DE) offerings at scale, powering the digitally connected world in a safer, more cost effective and efficient way than traditional alternating current (AC) and direct current (DC) electricity.
The only new form of electricity since AC and DC, DE is made up of discrete packets of energy and data and efficiently runs on cables that are thin, safe, inexpensive, flexible and data-enabled, making DE the ideal powering solution for complex and evolving infrastructure systems. With enough power to energize a hi-rise or football stadium, VoltServer’s technology is already installed in over 700 venues, and will continue to expand its offerings beyond communications infrastructure to power entire buildings.
“There has not been much innovation around electricity since Tesla and Edison battled it out in the late 1800s,” said Stephen Eaves, CEO of VoltServer. “But Digital Electricity™ allows for controlled power distribution that is safe, less expensive, faster to install, more energy efficient, and perfect for an increasingly digital world. At scale, VoltServer’s technology will make buildings less expensive to construct, operate, and change over time.”
With its investment, Sidewalk Labs joins Marker Hill Capital, Slater Technology Fund, Natural Resources Capital Management, Clean Energy Venture Group, Angel Street Capital and Consiton Capital in recognizing the potential of Digital Electricity™.
“Electricity powers our world, but the fundamental danger inherent in AC or DC electricity makes today’s electrical systems expensive to install or change. Digital Electricity™ is a breakthrough, offering a less expensive, safer and more efficient way to distribute electricity that can make buildings more affordable and flexible. Over time, that can make cities more affordable, sustainable, and adaptable as our needs change,” Dan Doctoroff, chairman and CEO of Sidewalk Labs said.
VoltServer currently offers DE for Mobile Radio Power, Power over Ethernet (PoE) Switch Power, Mobile Edge Compute Servers, High Speed Communications Power, Smart LED Lighting Power, UPS/Centralized Battery Backup, and DC Microgrid.
Funding fuels expansion of installations with Mobile Network Operators (MNOs), as well as extending reach to Fiber FTTx, smart LED lighting, critical power/ UPS and alternative energy applications
The US Department of Energy announced recipients of its Phase II SBIR grant program, with VoltServer receiving nearly $1 million in the form of a non-dilutive grant to continue research into low-cost, high efficiency LED lighting. This continues VoltServer’s participation in the SBIR program after successfully completing an initial Phase I grant of $250k in FY2014.
VoltServer closed its Series A round of financing of $2M with participation from the Rhode Island Slater Center, Marker Hill Capital, Natural Resources Capital Management, Angel Street Capital and the Clean Energy Venture Group. This new round of funding will be used to scale up VoltServer’s proven technologies to provide robust power distribution products.
The Slater Technology Fund today announced that it has committed $250,000 in funding to VoltServer, a Charlestown, R.I.-based company that has developed an innovative way to manage and deliver electrical power. VoltServer is the latest venture of successful entrepreneur Steve Eaves.