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|Belkin Invests in Juice Technologies, Continuing Commitment in Energy Conservation Market|
|Posted: Wed May 26, 2010 01:00:00 PM|
- May 19, 2010 - Belkin International, Inc., today announced that it has made a significant equity investment in Juice Technologies, a leading provider of products to optimize home and business energy use as well as technologies that enable the intelligent charging of battery and plug-in hybrid electric vehicles. Together, Belkin and Juice will deliver intelligent residential and small-business energy management products to the market.
Capitalizing on their 30-plus years of involvement in large-scale commercial and industrial energy management systems, Juice Technologies, whose products are marketed under the Plug Smart brand has developed a comprehensive portfolio of experience in the utility industry, including three years of active participation in many standards bodies and organizations over the past three years with UCA, EPRI Infrastructure Working Council, and NIST.
Along with Belkinís recently announced acquisition of Zensi, a leading developer of technology that senses and monitors energy consumption, this investment demonstrates a greater focus in energy management for Belkin. Juice will bring their expertise to Belkinís current Conserve energy management product portfolio, which enables energy conservation in both homes and offices. Later this year, Belkin will introduce additions to its Conserve line, bringing more solutions for managing energy in the home.
Belkinís Conserve products will provide easy, cost-effective ways for people to be more engaged with their energy use. According to a November 2009 survey by Parks Associates, 81 percent of US online households show high interest in cutting energy costs. When asked the main reason for learning about ways to reduce energy consumption, 58 percent of people questioned stated that they wanted to learn how to save money on their electric bill.
Mark Reynoso, CEO and President, Belkin
"Our investment in Juice Technologies builds on our vision to help people make better, more informed decisions about their energy use. Their experience in the utility industry fills a critical need in our go-to-market strategy for our energy management solutions.Ē
Rich Housh, CEO, Juice Technologies
"Belkin brings remarkable market power to the emerging energy conservation space. We are thrilled to have Belkin as an investor and partneróits relentless attention to user experience and ability to make technology easy to use gives it important competitive advantages in energy management, and this fits perfectly with our core expertise in advanced technology solutions to electric utilities."