Micatu $5,000,000 Credit Facility
March 2021 – England Securities is pleased to announce that it served as the exclusive placement agent for Micatu, Incorporated (“Micatu”) in its $5 million in debt financing from Silicon Valley Bank (“SVB”).
The financing builds on the company’s growing momentum to change the way the world senses light. Their next-generation solution for measuring voltage, current, vibration, and temperature is making waves in the industry. Micatu’s GridView utility platform solution enables lower-cost and safer deployments, maximizes integration of renewable energy, and increases data awareness for grid resilience.
“England & Company understands what we’re trying to accomplish and communicates with the investment community and strategic partners very effectively,” Michael Sexton, COO and Executive Vice President of Micatu, said. “Their team matches industry expertise with deep transaction experience in raising and structuring equity and all varieties of credit, which led us to long-term partnerships with Wave Equity and SVB. They did an exceptional job and played an instrumental role in optimizing the terms of the transactions and the outcomes for us. We received partner-level attention throughout and great support from their entire team.”
Micatu’s GridView product line provides a measurement platform that enables utilities to collect more accurate data and provide actionable insights to improve power quality and grid reliability. The optical sensors are capable of monitoring multiple voltage classes, which reduces cost and installation complexity.
Active deployments of smart grid technology are enhancing the way utilities measure complex systems such as underground networks and substations. The sensors are non-conductive, taking measurements using light passed through an optical crystal rather than passing electrons. This enables the measurement platform to replace traditional current and potential transformers while increasing crew safety, averting potential fire risk, providing more accurate and smarter management controls, and lowering capital and operational costs. With overhead, underground, and groundless options available, the sensors can be easily deployed where they are most needed to collect data and enable seamless distribution automation applications for the next generation of the grid.