FOSTER CITY, Calif.--()--TeleSoft Partners, the lead investor in privately held Nexant, Inc., sees significant growth opportunities for Nexant through its expansion in India. TeleSoft initially invested in Nexant in 2007, and has continued to support the company though all subsequent rounds of funding.
“Energy efficiency and smart grid optimization, in addition to additional generation, offer sustainable solutions to meet India’s growing electricity capacity and reliability demands.”
Building on its existing presence in India, Nexant was recently selected by the U.S. Agency for International Development (USAID) to lead the agency’s Partnership to Advance Clean Energy Deployment (PACE-D) technical assistance project in India. Nexant's team of India and U.S. clean energy experts will work closely with USAID and the Government of India to implement energy efficiency and smart grid technologies and practices; advance commercial, market-driven renewable energy technologies; support supply-side efficiency from clean coal power generation; and enhance greenhouse gas mitigation programs. The PACE-D platform will enable public and private stakeholders to develop, test, validate and commercialize innovative technologies.
“Nexant’s global footprint and multi-industry expertise are extraordinary assets. Given the soaring growth and related energy infrastructure needs of India, Nexant will add significant value through next generation technologies and improving processes,” said Arjun Gupta, Chairman of Nexant and Chief Believer at TeleSoft Partners. "Energy efficiency and smart grid optimization, in addition to additional generation, offer sustainable solutions to meet India’s growing electricity capacity and reliability demands."
“Nexant is pleased to support USAID’s clean energy initiative in India,” said Basem Sarandah, CEO of Nexant. “Our own growing presence in the region underscores our commitment to providing critically needed clean energy and energy efficiency technology and services throughout Asia. In particular, we are eager to work with our local partners to support India’s efforts to transform its energy economy and look forward to making a significant contribution toward that goal under the PACE-D program.”
About TeleSoft Partners
TeleSoft Partners is a special situations venture capital firm. TeleSoft focuses on multi-stage venture investments and special situations in the information technology, communications, and energy value chain industries. TeleSoft is typically a contrarian investor taking a lead or co-lead role as an operational value added partner. TeleSoft has raised capital commitments in excess of $625 million in multiple funds. Over the last seventeen years, TeleSoft and its principals, pre-TeleSoft, have funded and helped build ~61 companies, resulting in 37 mergers & acquisitions and IPOs to date and 9 companies are still private. TeleSoft's Strategic Partnerships include Alltel (Acquired by Verizon), Bechtel, Deutsche Telekom T-Venture, Nexant, SalesForce.com, and Symphony Technology Group.For more information, visit www.telesoftvc.com.
Nexant offers a comprehensive suite of best-in-class energy enterprise software designed to transform utility business processes and implement smart grid and energy conservation initiatives. Over the last decade, it has been developing and commercializing technology solutions—such as iEnergy™, GRID360™, iHEDGE®, and RevenueManagerT®—enabling utilities, power producers, and retailers to operate and deploy new technologies and applications in the emerging grid. Operating from 32 offices in the U.S., Europe, the Middle East, Asia, and Africa, the company's team of industry professionals has completed more than 3,000 client assignments in over 100 countries, and its software operates in over 120 control centers at utilities worldwide. Its clients include major utilities, transmission and distribution system operators, chemical and petroleum majors, financial institutions, government agencies and Fortune 500 companies. For additional information, please visit www.nexant.com.