Packetized Energy is doing what most start-ups dream of. They’ve just moved into their own space. After a whirlwind 18 months of new staff additions, product testing, and tech licensing, this energy sector company is poised for growth–some say growth of “unicorn” proportions. A unicorn business is one with assets of $1B or more.
What started as an idea among three University of Vermont faculty members has developed into a uniquely promising business. They have developed algorithms and products that help manage energy supply and demand, creating a cloud-based service that allows energy-using devices (like home appliances) to access energy when needed, tapping into renewable sources like wind and solar as well as non-renewable sources. By staggering consumer energy needs over time, the company helps achieve an affordable and predictable balance of supply and demand between utilities and their customers.