Toronto-based REGEN Energy, which I’ve written about several times on this blog, has raised $5.5 million from NGEN Partners and BDC Venture Capital. The money will be used to expand the North American marketing efforts of the company’s EnviroGrid product, which is a swarm logic platform that can be used to manage the energy demand of equipment in commercial and industrial facilities. Instead of controlling equipment through a centralized command-and-control model, REGEN can attach its EnviroGrid devices to individual pieces of equipment, which function as part of a cooperative decentralized system. The devices, in essence, “talk” to each other like bees in a hive, hence the term “swarm logic”. This decentralized model is less costly and just as — if not more — effective than centralized approaches. This is a classic example of biomimicry, in and fact I mention REGEN’s work in the biomimicry chapter of my new book Mad Like Tesla.
“This is an exciting time for REGEN as we receive follow-on orders from large corporate accounts. We’re excited to increase our channel partners’ revenues by delivering further value-added services to their customers,” said REGEN CEO Tim Angus. The company has had several successful pilot projects with utilities and is now focusing its efforts on the U.S. market, particularly California, where the company just opened up an office. It also has its eyes on the Northeast U.S., where there are plenty of demand-reduction and incentive programs that make this technology an attractive option.