Nokia smart home knowledge and the Vaasa energy cluster meet in a new company – There Corporation
September 11th, 2009
1:43 pm
There corporation will focus on energy saving and efficiency. The energy saving solutions of the company are based on the ThereGate – which was formerly known as the Nokia Home Control Center or HCC. Main partners of There Corporation in the first stage are energy utilities, energy meter manufacturers, service providers in the energy and real estate segments. 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 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 manages two funds, Power Fund I and Power Fund II, with a focus on clean technology. Assets under management of these funds are €80 million. “There Corporation’s groundbreaking solution and extensive knowledge background in the smart grid market, which is estimated to be worth over €40 billion by 2020,makes it an interesting company to invest in.“ says Veijo Karppinen, chairman of VNT. The total funding of There corporation is €4,5 million. There corporation provides the platform combining Smart Metering, Smart Home and Smart Grid solutions. This allows our partners to offer sustainable future proof solutions and services to their clients. The company focuses to start with on next generation smart metering to improve energy efficiency. The solution will also provide better service and control for end users. Many other ThereGate compatible appliances and applications will be provided by other companies. The first solution projects in this field have already been started and some of the end user solutions and services are expected to hit piloting phase in early 2010.