VELCO will be an investor and strategic partner in the new company. IBM Research's Smarter Energy team -- alongside the unit's intellectual property and technologies portfolio -- will also become part of Utopus Insights.
IBM and VELCO hope the new venture will be able to "create dependable, industry-tested software" for the green energy market.
Contact: Utopus Insights, Dr. Chandu Visweswariah, Pres., CEO, (914) 257-7254, http://utopusinsights.com; VELCO, (802) 635-2331, www.velco.com
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