GridPoint

GridPoint Announces $120 Million Financing

Additional Capital Will Fuel the Smart Grid Company’s Acquisition Strategy

ARLINGTON, VA − Sept. 23, 2008 − GridPoint, Inc., a leading clean tech company whose smart grid platform benefits electric utilities, consumers and the environment, announced a $120 million equity financing to fuel the company’s acquisition strategy. Of the total amount, GridPoint recently received over $100 million and expects to receive the balance in the near future. In conjunction with the financing, which is being predominately funded by existing investors, all of the company’s outstanding shares have been converted into common stock. To date, GridPoint has raised in excess of $220 million.

“We are honored by the confidence placed in us by our investors,” said Peter L. Corsell, President and CEO, GridPoint. “This financing will enable GridPoint to become the leading technology partner to utilities as they continue to build a more intelligent, efficient and reliable grid.”

GridPoint is working with several utilities including Duke Energy and Xcel Energy, which has selected the GridPoint Platform for its $100 million SmartGridCity™ initiative in Boulder, Colorado. The platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed energy resources that controls load, stores energy and produces power. The platform offers utilities a single interface, located in a utility’s control room, for managing a variety of distributed energy assets including plug-in electric vehicles, solar panels, wind turbines, advanced storage technologies and household devices such as thermostats, electric water heaters, pool pumps, etc.

A 2008 World Economic Forum Technology Pioneer, GridPoint was also named the overall winner by AlwaysOn GoingGreen 100 Top Private Companies 2007 and winner of the 2007 North American Frost & Sullivan Award for Green Excellence. GridPoint has been featured in several books including the newly released Perfect Power: How the Microgrid Revolution Will Unleash Cleaner, Greener, More Abundant Energy, by Robert Galvin and Kurt Yeager, as well as Earth: The Sequel and The Clean Tech Revolution. Corsell is profiled in this month’s issue of MIT’s Technology Review magazine as one of the world’s top innovators under the age of 35. He also serves as chairman of the World Economic Forum’s Global Agenda Council on Alternative Energies.

About GridPoint

GridPoint Inc., a leading clean tech company, is the pioneer of an innovative smart grid platform that aligns the interests of electric utilities, consumers and the environment through an intelligent network of distributed energy resources that controls load, stores energy and produces power. The platform applies information technology to the electric grid to enable distributed energy resources to perform the same as central-station generation. During peak periods, utilities efficiently balance supply and demand by discharging stored power from distributed generation assets or reducing customers' non-essential loads through demand response programs. Additionally, utilities effectively optimize baseload generation assets and relieve stress on T&D assets. The platform's modular, scaleable and upgradeable architecture enables utilities to deploy proven technologies, (e.g., load control devices and advanced batteries) while creating a practical path for integrating new technologies (e.g., plug-in hybrid electric vehicles (PHEVs) and fuel cells). For consumers, the platform provides protection from power outages, increases energy efficiency through online energy management and integrates renewable energy, paving the way for the commercial success of solar and wind energy sources. On the Net: www.gridpoint.com.