St. Louis Business Journal
Thomas Voss, former chairman, president and CEO of Ameren Corp., has joined Smart Wires as company chairman. Smart Wires is an Oakland, California-based startup with technology that could turn transmission lines into flexible power conduits for a growing solar- and wind-powered grid.
The company raised another $30.8 million from a single investor in its latest round of funding, according to a June 3 filings with the Securities and Exchange Commission.
The investor is 3×5 Special Opportunity Fund, an investment vehicle formed by St. Louis-based RiverVest Venture Partners, along with Arnerich Massena & Associates. RiverVest is led by co-founder and managing partner Jay Schmelter.
Smart Wires will use the money to bring its first product, the PowerLine Guardian device, to commercial-scale production this year, and to finish development of its second product, the PowerLine Router device, so it can be field tested early next year.
Smart Wires has raised a total of about $62.8 million, including a nearly $4 million grant from ARPA-E, the Department of Energy energy research program. David Ratcliffe, former CEO of Southern Co., recently joined the startup’s advisory board. Jim Davis is CEO of Smart Wires.