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BPL specialist Current raises $130 M

Thu, 05/04/2006 - 7:47am
Brian Santo, CED

Current Communications has attracted $130 million in equity investments from new and existing investors to accelerate the deployment of broadband over powerline (BPL) technologies and services.

New equity investors are General Electric; EarthLink, which will serve as a retail provider of Current's broadband services; TXU Corp.; and Sensus Metering Systems, which provides meter-reading products.

Existing equity investors include Duke Energy; EnerTech Capital Partners; Goldman, Sachs & Co.; Google; Hearst; and Liberty Associated Partners LP, an investment partnership between Liberty Media and the Berkman family.

Current is deploying the first BPL-enabled Smart Grid with TXU Electric Delivery, a subsidiary of investor TXU, which serves more than 2 million homes and businesses in Texas. TXU Electric Delivery will install automated meters, 24/7 power quality monitoring and remote security cameras on its electric distribution network to gain real-time information about power consumption, availability and quality, while enhancing security monitoring in addition to consumer broadband service.

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