BPL Global raises $23M for smart grid control
BPL (Better Power Lines) Global is a Pittsburgh, Penn. company that makes software and equipment for utilities in order to manage and monitor the grid, and help integrate in renewable energy sources.
The company has partnerships with utilities both in the United States and overseas in Africa, Asia and South America, and reports that it is near to profitability.
The $23 million funding was providd by existing investors IFA Group, Novitas Capital, El Dorado and Morgan Stanley,… Continue Reading
Cisco gets serious about WiMax, buys Navini for $330M
Cisco, the large networking company, said it has agreed to acquire Navini Networks, a company that offers a WiMAX “upgrade” for mobile customers, for $330 million in cash and stock.
This shows that Cisco is getting serious about WiMax, a technology long in development but which is now being deployed in earnest. It differs from WiFi in that it has much longer ranges — as much as 10 miles vs. WiFi’s reach of a few hundred… Continue Reading
Profectus Bio pulls in $3M for antiviral drugs
Profectus BioSciences, a Baltimore, Md., developer of antiviral drugs and vaccines targeting HIV, raised $3 million in a private placement. Private investors, including Cross Atlantic Capital Partners and board member Stewart Greenebaum, contributed.
Profectus is developing ways to combine AIDS drugs with “immune modulators” that would render HIV more vulnerable to antiviral attack, and is also at work on an AIDS vaccine. The company was founded in 2003 by three eminent virologists who also co-founded the… Continue Reading