Control4 Nabs $17.3 Million for Energy-Saving Efforts
The way Glen Mella sees it, Control4's recent $17.3 million in funding is as much of an investment in the dealer channel as it is in the company.
Control4, a vendor of home control solutions, will use the equity financing to develop energy management systems and home energy displays for its new Advanced Metering Infrastructure (AMI) initiative. Under the initiative, Control4 will develop the systems and displays for utility companies, staff a new AMI headquarters in Santa Clara, Calif., and work with its dealers to provide the hardware/software solutions needed to build out Home Area Networks (HAN) in consumers' homes.
Mella, Control4's president and COO, said the initiative will take time to gain traction since most utilities are just beginning to roll out their Smart Grid applications, which include IP-based smart meters with two-way communication capabilities, a key component in the AMI solution. But as utilities and other companies start to eventually market those initiatives to homeowners, consumers will begin seeking full energy-saving solutions from their CE dealers. It's up to the dealers to establish in-store merchandising strategies to promote their offerings.