In a statement, CEO David Vieau said the company has received multiple proposals for its grid business.

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A123 System also indicated that it is seeking buyers for its grid energy storage business.

FORBES: A123 Systems Bankruptcy: Is A Complete Sell-Off Next?

"It might strike people as a lot of money really early, " says Corsell of GridPoint's fund-raising success, but he adds that the business of investing in the electric grid is highly capital intensive.

FORBES: It's The Network

AutoGrid, based in Palo Alto, develops software that crunches data collected by the smart meters at each home or business and by sensors placed throughout the electric grid.

FORBES: A Software Startup Helps Utilities Decode Smart Meter Data

As a result, members can better navigate the transforming energy and utilities environment, collecting insights from the vast amount of information pervading their networks and systems, add further intelligence to the smart grid and uncover new ways that improve business and operational outcomes.

ENGADGET: IBM announces Smarter Energy Research Institute, aims to improve energy grids (video)

Google, which uses enormous amounts of energy to power its data centers, locates those parts of the business in areas like Washington's Columbia River hydroelectric grid, where juice is cheap.

FORBES: Google Gets 'Smart'

Toshiba said it plans to build the business as a stand-alone platform providing utilities pursuing the smart grid opportunity.

FORBES: Toshiba Buys Smart-Grid Pioneer

In May 2007 Kempton formed a coalition of utility and energy experts--Mid-Atlantic Grid Interactive Cars, or Magic--and sought funding to prove the V2G business model.

FORBES: Magazine Article