Varentec is Named in the 2014 Global Cleantech 100

SAN JOSE, Calif., Oct. 6, 2014 /PRNewswire/ -- Varentec^TM, a pioneer in real-time distributed Grid-Edge Control^TM solutions that allow electric utilities to simultaneously manage demand, improve efficiency, and absorb high levels of PV solar energy, today announced it was named in the prestigious 2014 Global Cleantech 100, produced by Cleantech Group, whose mission is to connect corporates to sustainable innovation through the i3 market intelligence platform, expert consulting services, and global events.

The Global Cleantech 100 represents the most innovative and promising ideas in cleantech. Featuring companies that are best positioned to solve tomorrow's clean technology challenges, Global Cleantech 100 is a comprehensive list of private companies with the highest potential to make the most significant market impact.

"Our Grid Edge Control^TM solutions offer the first proven example of distributed decentralized real-time control on the grid, giving utilities a new set of tools in their grid modernization and renewable energy integration efforts", said Dr Deepak Divan, President, CTO and Co-Founder of Varentec. "We are excited about our being selected into the Global Cleantech 100 and the recognition that provides for our solutions".

This list is collated by combining proprietary Cleantech Group research data, with weighted qualitative judgments of hundreds of nominations, and specific inputs from a global 84-person Expert Panel. To qualify for the list, companies must be independent, for-profit, cleantech companies that are not listed on any major stock exchange.

"The Global Cleantech 100 represents the most inspiring array of entrepreneurs across the cleantech space that are at the forefront of innovation," said Sheeraz Haji, Cleantech Group's CEO. "It is a true honor to gather with the global cleantech community every year to recognize and celebrate the achievements of each of the top 100 companies as they continue to solve tomorrow's energy and resource challenges and redefine sustainable innovation."

This year, a record number of nominations were received: 5,995 distinct companies from 60 countries. These companies were weighted and scored to create a short list of 327 companies. Short-listed nominees were reviewed by Cleantech Group's Expert Panel, resulting in a finalized list of 100 companies from 17 countries.

The 84-member expert panel was drawn equally from leading financial investors and representatives of multi-national corporations and industrials active in technology and innovation scouting across Asia, Europe, and North America. The composition of the expert panel broadly represents the global cleantech community, from pioneers and leaders to veterans and new entrants. The diversity of panelists results in a list of companies that command an expansive base of respect and support from many important players within the global cleantech innovation ecosystem.

"The Global Cleantech 100 each year provides us with invaluable insight into which companies key market players think are  most likely to have a significant impact in the next 5-10 years," said Richard Youngman, Cleantech Group's Managing Director, Europe & Asia and creator of the program. "How the composition of the Global Cleantech 100 list changes over time is revealing of key megatrends and hot sub-sectors  – and helps us all get a view on the  future."

• The complete list of 100 companies was revealed on October 6^th at the Global Cleantech 100 Summit & Gala in Washington, D.C. http://events.cleantech.com/global100/.
• For complete information on Varentec's leadership within the cleantech space, access i3 by visiting i3connect.com—Cleantech Group's leading market intelligence platform—and search for Varentec.
• The list is accompanied by a full report with commentary and insight on the 2014 Global Cleantech 100—authored by Cleantech Group, powered by data from i3, and sponsored by Chubb. Download the report at: http://www.cleantech.com/indexes/global-cleantech-100/2014-global-cleantech-100/.  
• The complete list of Global Cleantech 100 expert panel members is available at http://www.cleantech.com/indexes/global-cleantech-100/2014-panelists/

About Cleantech Group                                                                                               

Founded in 2002, Cleantech Group's mission is to accelerate sustainable innovation. Core to this mission is i3, an online platform that connects corporates with innovation, at scale, by allowing them to find, vet, and connect with start-ups—efficiently building an innovation pipeline. In conjunction with i3, we offer premium Advisory Services for corporates in need of expertise designing and executing strategies for sustainable innovation, and managing the pipeline created in i3. The i3 platform comes to life at our global Events, which convene corporates and start-ups, along with other players shaping the future of sustainable innovation.

Cleantech Group is headquartered in San Francisco, and has offices in London and New York.

For more information, visit; www.cleantech.com

About Varentec

Varentec's innovative Grid Edge Control™ solutions help utilities both monitor and directly control the grid edge to deliver unprecedented levels of energy savings, PV integration, voltage & VAR control, demand management, improved asset utilization, and visibility and analytics for utilities. Varentec investors include Khosla Ventures and Bill Gates.

Varentec has been the recipient of various research grants from the Department of Energy as well as awards from Utility Technology Challenge, Greentech Media and Global Greentech 100. Varentec is located in San Jose, California. For more information, please visit: www.varentec.com.

SOURCE Varentec, Inc.