Smart Grid Attracts Test & Measurement Supplier for Developing Technology to Bring More Reliable Delivery of Electricity and Broadband Over PowerLines

Wednesday November 8, 8:43 am ET


PITTSBURGH, Nov. 8 /PRNewswire/ -- BPL Global(TM), Ltd., an international leader in "Smart Grid" technologies and broadband services over power lines (BPL), announced today that Tollgrade Communications, Inc. (Nasdaq: TLGD - News) has joined in the Series C investment round for BPL Global. This investment is part of the Series C funding BPL Global announced in late September, totaling $25M and led by a consortium of Kuwaiti-based companies including Al-Deera Holding (KSE: ALDEERA), International Financial Advisors (KSE: IFA), Kuwait Holding Company, and International Finance Company (KSE: IFC). A minor investor in the round, Tollgrade Communications is a leading supplier of network service assurance products for the global cable and telecom industries.

Improving reliability of electricity through smart grid technologies and managing the quality of broadband communications over power lines are attractive emerging markets. Given our presence in the service assurance marketplace for cable and telephone companies, this investment makes great sense for Tollgrade," said Mark B. Peterson, President and Chief Executive Officer for Tollgrade Communications.

"As a global leader in network test and measurement products, Tollgrade Communications is a much-welcomed new strategic investor in BPL Global," said Keith Schaefer, Chief Executive Officer, BPL Global.

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 demand and load management; outage management; grid monitoring and device control; as well as energy theft prevention.

Source: BPL Global.net