TeleSoft Portfolio Company Nexant Enhances Presence in India
Sep 17, 2012 (Close-Up Media via COMTEX) --
TeleSoft Partners, the lead investor in privately held Nexant, Inc., sees significant growth opportunities for Nexant through its expansion in India.
TeleSoft initially invested in Nexant in 2007, and has continued to support the company though all subsequent rounds of funding.
According to a release, building on its existing presence in India, Nexant was recently selected by the U.S. Agency for International Development (USAID) to lead the agency's Partnership to Advance Clean Energy Deployment (PACE-D) technical assistance project in India. Nexant's team of India and U.S. clean energy experts will work closely with USAID and the Government of India to implement energy efficiency and smart grid technologies and practices; advance commercial, market-driven renewable energy technologies; support supply-side efficiency from clean coal power generation; and enhance greenhouse gas mitigation programs. The PACE-D platform will enable public and private stakeholders to develop, test, validate and commercialize technologies.
"Nexant's global footprint and multi-industry expertise are extraordinary assets. Given the soaring growth and related energy infrastructure needs of India, Nexant will add significant value through next generation technologies and improving processes," said Arjun Gupta, Chairman of Nexant and Chief Believer at TeleSoft Partners. "Energy efficiency and smart grid optimization, in addition to additional generation, offer sustainable solutions to meet India's growing electricity capacity and reliability demands."
"Nexant is pleased to support USAID's clean energy initiative in India," said Basem Sarandah, CEO of Nexant. "Our own growing presence in the region underscores our commitment to providing critically needed clean energy and energy efficiency technology and services throughout Asia. In particular, we are eager to work with our local partners to support India's efforts to transform its energy economy and look forward to making a significant contribution toward that goal under the PACE-D program."
TeleSoft Partners is a special situations venture capital firm. TeleSoft focuses on multi-stage venture investments and special situations in the information technology, communications, and energy chain industries.
Nexant offers a suite of energy enterprise software designed to transform utility business processes and implement smart grid and energy conservation initiatives.
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