BPL Global Announces $25 Million in Series C Round Funding

- Company Brings Smart Grid Applications to Utilities and Broadband over Power Line to Consumers -


PITTSBURGH, Sept. 25 /PRNewswire/ -- BPL Global(TM), an international leader in "Smart Grid" technologies and broadband services over power lines (BPL), announced today $25M in equity investments. A consortium of Kuwaiti- based companies including current investor Al-Deera Holding (KSE: ALDEERA), and new investors International Financial Advisors (KSE: IFA), Kuwait Holding Company, and International Finance Company (KSE: IFC) led the Series C round. Strong support from current investors DQE Communications; PA Early Stage Partners, leader of the seed round in February 2005; SZAR Partners and BPL Global founders continues with participation in Series C.

"We're pleased to invest in BPL Global," said Abdulwahab Al-Nakib, Chairman and Managing Director of Al-Deera. "We have seen a great deal of momentum with this company, as it forms an increasing number of promising joint ventures, builds a solid management team, and makes pioneering steps in the development of Smart Grid technologies and Broadband Services."

BPL Global forms joint ventures with utilities and Internet service providers (ISPs), providing data, voice and eventually video broadband services over power lines to multi-occupancy buildings and consumers, while ensuring heightened reliability and efficiency of utility grids through Smart Grid initiatives. Smart Grid applications include load management; outage management; grid monitoring and device control; as well as energy theft prevention.

"We continue to invest in BPL Global because of its fundamentally sound business plan and the talented team assembled to execute this plan, creating value for our investment," said Joseph Belechak, COO, Duquesne Light Holdings. "As customer service and reliability expectations increase, and demand for energy grows, being able to develop and deploy Smart Grid technology to improve the operation of the electric delivery infrastructure will be increasingly more important. Bringing these advancements to the market may also create a competitive advantage for the utilities and their partners developing these new technologies."

BPL Global provides end-to-end solutions designed to meet the specific needs of a utility by integrating equipment from leading suppliers with an enterprise software platform. This creates a communications network over a utility's power lines that interfaces with smart meters, switches, sensors and other grid devices to more efficiently manage transmission and distribution of electricity. This same communications infrastructure provides data, voice and video broadband services to residences, apartment buildings, and businesses.

"Our investors have recognized the significant efficiency and reliability benefits as well as consumer benefits of the work being done by BPL Global and its partners. Smart Grid applications will save a utility tens of millions of dollars in operating and maintenance costs and generate a new revenue stream from broadband services," said Keith Schaefer, Chief Executive Officer, BPL Global. "We're looking forward to taking these exciting applications to the next level and realizing the market potential of these integrated systems."

About BPL Global