Trilliant Networks, which provides smart grid software solutions for utilities and energy retailers, is moving its global headquarters from California’s Silicon Valley to North Carolina’s Research Triangle area, creating 130 new jobs there over the next five years.
The company is relocating its headquarters from Redwood City, California, to offices on Harrison Oaks Boulevard in Cary, where it will invest $1.8 million to expand its corporate operations.
“The Research Triangle is a globally recognized technology community of more than 350 clean tech companies, and offers some of the brightest and most innovative talent for a high-tech company like us,” said Trilliant CEO Andy White. “By establishing our global headquarters in the Research Triangle, we are adding our footprint to other world-leading technology companies as we continue leading innovation in utility and IoT (Internet of Things) communications.”
The company offers the energy industry a smart-grid platform that unifies information from widely varied communications systems into a unified whole. The platform helps energy companies achieve smart-grid goals ranging from smart metering to smart distribution to consumer applications and more.
Trilliant is backed by prominent investors such as ABB, GE, Investor Growth Capital, MissionPoint Capital Partners, UMC Capital, VantagePoint Capital Partners and zouk ventures, according to its website.
“We’re proud that this global company has chosen to expand its operations here in the heart of North Carolina’s Research Triangle and call our state home,” Gov. Roy Cooper said. “Wake County and Cary offer the prime location, ideal business environment and talented workforce needed for a high-tech headquarters and we’re excited Trilliant recognizes that.”
The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina led the state’s support for the company’s expansion. “North Carolina is second to none when it comes to offering a technology company strong engineering and corporate talent, as well as an outstanding quality of life for its employees,” state Commerce Secretary Anthony M. Copeland said.
Trilliant’s expansion in Wake County will be facilitated, in part, by a Job Development Investment Grant (JDIG). JDIGs reimburse new and expanding companies a portion of the newly created tax base they create. Under the terms of its JDIG, Trilliant is eligible to receive up to $1.329 million in total reimbursements. Payments will occur in annual installments over 12 years, pending verification by the state departments of Commerce and Revenue that the company has met incremental job creation and investment targets.
By law, JDIG projects must result in a net revenue inflow to the state treasury over the life of the award. For projects in Wake and other Tier 3 counties, 25 percent of the eligible grant is directed to the state’s Industrial Development Fund–Utility Account to help finance economic infrastructure in rural counties. Trilliant’s expansion could provide as much as $443,000 in new funds for the Utility Account.
Partnering with Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, Wake County Economic Development, the town of Cary, Wake County, Cary Chamber of Commerce, E4 Carolinas and the Research Triangle Cleantech Cluster.