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Avista Development invests in smart-grid startup company

From staff reports

Avista Development and Duke Energy have teamed up to invest in a startup company called Open Energy Solutions Inc.

The Santa Clara, California, company provides consulting services for smart-grid technologies in North America. It’s also working on an “open source” platform for smart grids.

“It’s a different approach to software delivery,” said Mark Gustafson, Avista Development’s senior manager of business development and strategy.

Instead of paying to license the software, it would be available free to utilities. Open Energy Solutions’ revenue would come from consulting on the product and add-ons.

“There are lots of opportunity to build proprietary applications,” Gustafson said.

Avista Development declined to disclose how much the company is investing in Open Energy Solutions.

Avista Development is separate from Avista Utilities, the regulated arm of the company that sells electricity and natural gas. Avista Development represents “shareholder funded investments,” said Ed Schlect, chief strategy officer at Avista Corp.

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