Along with alternative energy generation comes a host of attendant technologies, from storage and transmission, to grid management, and measurement and analysis. Fat Spaniel is in that final category, with a set of tools used to measure power output of installations like solar cells.
The company has taken a substantial $18 million second round of funding, which it plans to use to expand in Europe and reach profitability in mid-2009. It has done more than a thousand installations in 12 countries, it says
Fat Spaniel makes software which works with hardware supplied by third-party manufacturers. Together, the two can accurately track output from alternative energy sources such as solar cells. Without such tools, it’s a matter of guesswork to determine how much energy is being produced.
The typical users are system installers, or companies that actually set up energy generation systems, whether for individuals or for giant corporations like Wal-Mart.
Fat Spaniel is working on adding more advanced data analysis, including visualization tools and granular viewing which could help pin-point trouble spots. Continuing to improve on its software will also help the company when a large competitor like GE or Agilent enters the market, which chief technology officer Chris Beekhuis told us he expects to happen within a year and a half.Ignition Partners led the $18 million funding, while Chrysalix Energy and Element Partners (formerly called DFJ Element) also participated. To date, Fat Spaniel has taken a total of $25 million in venture funding.