SAN MATEO, Calif.--(BUSINESS WIRE)-- Xtreme Power, a provider of large-scale power management and storage systems, today announced that is has been selected as a finalist for the first Innovation Competition at GreenBeat 2009, the seminal conference on the Smart Grid. As the provider of the industry's first large-scale solid-state power management system, Xtreme Power is making the next generation of the smart grid a reality.

"Effective implementation of the smart grid is paramount to our clean energy future, and Xtreme Power is working to provide equally smart storage technologies necessary to seamlessly deliver predictable, clean power on demand," said Carlos Coe, president and CEO of Xtreme Power. "It is an honor to be recognized by VentureBeat as a company poised to bring the smart grid to life."

A few weeks ago, President Obama announced more than $3 billion in stimulus grants to improve and "smarten" the national grid—pushing the concept of a modernized electricity network into the limelight. At the same time, the Innovation Competition invited organizations with products that promised to wield significant impact on the power grid's ability to become smarter to pitch their ideas in front of a world-class group of industry influencers at GreenBeat 2009. Xtreme Power was selected from more than 50 applications as one of the top 10 innovations that will shape the future of the grid.

"Reflective of the growing public awareness for the smart grid, VentureBeat was impressed by the competitiveness of this year's contest," said Matt Marshall, founder and CEO of VentureBeat. "With Xtreme Power leading the way, we are confident that the technologies represented by these companies will drive the way to an efficient, carbon-reduced super grid with enormous potential to increase reliability of power delivery and reduce our carbon footprint worldwide."

GreenBeat 2009 took place November 18-19, 2009, in San Mateo, California. More information on the GreenBeat 2009 Innovation Competition, along with this year's winners, is available at http://events.venturebeat.com/greenbeat2009/.

About GreenBeat 2009

The seminal conference on the Smart Grid, GreenBeat 2009 will bring together leading entrepreneurs, investors, utilities, technology executives and policymakers to accelerate the development of a leaner, more efficient electrical grid. With a laser focus on new technology offerings, GreenBeat 2009 is the must-attend event in the space for discussion, debate and power networking. For more information about this event, hosted by VentureBeat, please visit http://events.venturebeat.com/greenbeat2009/.

About Xtreme Power

Xtreme Power is a developer and manufacturer of integrated power management and energy storage systems that offer compelling smart solutions to the many challenges and opportunities facing the electricity industry. Our integrated smart power management solutions range from 500 kW to 100 MW and opens new doors to the rapidly expanding potential of the electric industry for all stakeholders: utilities, independent power producers, alternative energy companies, and customers. With proprietary solid-state power management and integrated storage, we enable efficient and available power for an environmentally sound 21st century electricity industry.

About VentureBeat

VentureBeat, founded in 2006 to cover news and perspective about innovation for forward-thinking executives, has emerged to become one of the "best blogs on the Web." according to the New York Times. It was recently called the most "influential business blog" by Text100, a public relations company that surveyed citations by mainstream news publications. VentureBeat runs several conferences, including GamesBeat, MobileBeat and GreenBeat. It also produces www.DEMO.com, the leading conference for emerging technology product launches.