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Europe: Siemens Invests In, Partners With Tendril

Is Siemens thinking of joining the shopping spree?
Tendril made some big proclamations last month at The Networked Grid conference about what was coming for the home energy management company in 2011. Today the company is backing up some of those claims with an announcement of a strategic alliance with Siemens Energy.

Siemens will market the Tendril Connect platform as part of its smart grid offerings to utilities in the U.S. and Canada with eventual expansion overseas. Siemens Venture Capital has also invested in Tendril, although the amount was not disclosed.

While competitors like ABB and Schneider Electric are scooping up smaller companies with abandon to fill out their offerings, Siemens has just eight investments totaling $43 million in other smart grid companies, including Powerit Solutions, Smart Synch and Coulomb Technologies, and the global giant bought solar thermal specialist Solel for $418 million.


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