GridPoint, Technology Pioneer 2008, Selected by the World Economic Forum

WASHINGTON--(BUSINESS WIRE)--GridPoint, Inc., a leading clean tech company whose smart grid platform aligns the interests of electric utilities, consumers and the environment, announced that it has been selected by the World Economic Forum as a Technology Pioneer 2008. The 39 visionary companies selected as Technology Pioneers 2008 were nominated by the world’s leading technology experts, including venture capitalists, technology companies, academics and media.

The final selection from 273 nominees was made by a panel of leading technology experts appointed by the World Economic Forum. Technology Pioneers 2008 are invited to participate in the World Economic Forum Annual Meeting 2008 to be held in Davos, Switzerland, Jan. 23-27, 2008, and in the Annual Meeting of the New Champions to be held in Tianjin, People’s Republic of China, Sept. 25-27, 2008.

“We are pleased to be recognized among hundreds of innovative companies worldwide working towards paradigm shifts in their industries. In GridPoint’s case, we are transforming the way electricity is delivered and consumed to benefit both society and the environment,” said Peter L. Corsell, President and CEO of GridPoint.

GridPoint’s innovative smart grid platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed resources (e.g., advanced load control devices, batteries, solar systems) that reside at the home or business. Additionally, the platform’s modular, scaleable and upgradeable architecture enables utilities to integrate new clean energy technologies (e.g., plug-in hybrid electric vehicles and fuel cells).

During peak demand periods, the platform enables utilities to efficiently balance supply and demand by discharging stored energy or reducing loads with minimal impact on customers (i.e., controlling temperature versus shutting down air conditioners). The intelligent network serves as a virtual peaking power plant, enabling utilities to avoid the regulatory, environmental and “time-to-build” hurdles associated with building traditional power plants while fueling the mass adoption of renewable energy, reducing carbon emissions and conserving fuel, capital and land resources.

Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. To be selected as a Technology Pioneer, a company must be involved in the development of life-changing technology innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership, show all the signs of being a long-standing market leader – and its technology must be proven. Previous Technology Pioneers have included Business Objects, Cambridge Silicon Radio, Corel Corporation, Encore Software, Google, Mozilla Corporation and Napster.

The companies’ products and services include identity management on the Internet, understanding of individuals’ genetic information, robotic radiosurgery, pollution control materials, low-cost remote diagnosis solutions, virtual interface technologies, wiki-based projects and next-generation business intelligence solutions.

Twenty-three of the Technology Pioneers 2008 are U.S.-based companies. Israel and the United Kingdom each boast three; Sweden and Switzerland two each; Canada, France, Germany, India, the Netherlands and Russia, one each. Technology Pioneers are nominated in three main categories: Energy/Environment, Biotechnology/Health and Information Technology.

“This year the World Economic Forum received a record number of applications from companies around the world to become a Technology Pioneer. From a highly competitive field, we are extremely pleased to have a community that is using innovation and technology to dramatically affect the way society and business operate and doing so in a markedly collaborative manner. We are excited to welcome the Technology Pioneers class of 2008 to the larger community of the World Economic Forum and we are looking forward to the fruits that their collaboration will bring,” said Peter Torreele, Managing Director of the World Economic Forum.

The selection criteria include:

1)		Innovation. The company's technology must be truly innovative. A new version or repackaging of an already well-accepted technological solution does not qualify as an innovation. The innovation should be recent - not more than two years old. The company should invest significantly in R&D.
2)		Potential Impact. The company's technology must have the potential to have a substantial long-term impact on business and society in the future.
3)		Growth and Sustainability. The company should have all the signs of being a long-term market leader and should have well-formulated plans for future development and growth.
4)		Proof of Concept. The company must have a product on the market or have proven practical applications of the technology. Companies in "stealth" mode and companies with untested ideas or models will not qualify.
5)		Leadership. The company must have visionary leadership that plays a critical role in driving the company towards reaching its goals.
6)		Status. The company must not currently be a Member of the World Economic Forum. This criterion applies to the parent company - thus wholly-owned subsidiaries of large firms are not eligible.

GridPoint was also named overall winner by AlwaysOn GoingGreen 100 Top Private Companies for 2007 and winner of the 2007 North American Frost & Sullivan Award for Green Excellence for its success in pioneering a way to harness load management and distributed generation to achieve environmental sustainability.

About the World Economic Forum

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (www.weforum.org)

Tags: GridPoint, World Economic Forum, AlwaysOn, GoingGreen