Siemens Invests in Energy Startup Tendril Networks

Industrial engineering giant Siemens SI has announced that it invested an undisclosed amount in, and will also market technologies from, home energy startup Tendril Networks. Tendril makes software and in-home devices for consumers to monitor and manage home energy consumption. Siemens Venture Capital, the company's investment arm, has invested more than $43 million into smart grid technology since 2000. Competitors such as ABB ABB and General Electric GE have been acquiring smart grid companies as a way to expand into the arena. Siemens, though, has opted for partnerships and investments in startups such as Tendril, as well as eMeter, BPL Global and Viridity Energy. Siemen's share price has risen about 37% over the past year. The stock has outperformed not only GE and the industry average during that time, but the broader markets as well.