Latest news with #KeystoneGroup
Yahoo
25-02-2025
- Business
- Yahoo
After more than a decade, InterContinental opens downtown. See inside the luxury hotel
Step inside the first floor of the new InterContinental hotel in Indianapolis, and you're in the building's original lobby where golden accents transport guests back in time to the roaring 1920s when the Illinois Building first opened. But when you head up to the second-floor main lobby, you'll find a modern hotel housed in the historic Indianapolis building once at risk for demolition. Indianapolis-based developer Keystone Group bought the Illinois Building at the corner of Illinois and Market Streets in 2013, investing $110 million and promising to rejuvenate the languishing site. Now, 12 years later, the nearly century-old building opened to the public once again Monday as the first new luxury hotel in Indianapolis in nearly two decades. Keystone added an eleventh floor, which now serves as home to a penthouse suite with views of Monument Circle and a rooftop restaurant and bar. The hotel includes 170 guest rooms, some of which look out to the building's atrium, two restaurants and 5,000-square feet of event space for weddings, board meetings or other private events. The entire hotel pays homage to the city's creatives, with works by Indianapolis artists commissioned for the hotel in the lobby, hallways and guest rooms. Mini fridges stock snacks and drinks from local brands such as Just Pop In! and the South Bend Chocolate Company. More: Intercontinental sets winter opening date; 5 takeaways on the luxury hotel before it opens Alysa Guffey covers business and development for IndyStar. Contact her at amguffey@ This article originally appeared on Indianapolis Star: See inside the InterContinental, downtown's newest luxury hotel
Associated Press
29-01-2025
- Business
- Associated Press
Smart Wires Raises $65 Million in Growth Capital to Unlock Electric Grid Capacity with Backing from BP Energy Partners
Smart Wires today announced it has raised $65 million to propel its growth and meet rising energy needs exacerbated by the appetite for electricity from data centers and the rise of artificial intelligence (AI). The funding includes new investments from BP Energy Partners alongside significant contributions from Keystone Group. Smart Wires' grid-enhancing technologies (GETs), such as the SmartValve ™ advanced power flow control (APFC) device, give utilities the flexibility to manage capacity and load issues and have already helped utilities gain nearly 4 GW of firm capacity from their existing networks. SmartValve can be rapidly deployed, adjusted, or relocated as needed to adapt to changing system demands and accommodate new power generation sources. These advancements are essential for meeting the growing global energy demand in a cost-effective and sustainable manner. 'The urgent need for solutions that create more energy capacity has never been clearer, and every day we see validation of the transformative work our team is doing through real gigawatts unlocked,' said Joanna Lohkamp, CEO of Smart Wires. 'With this additional funding—and our strong partnership with BP Energy Partners and Keystone Group—we'll be able to accelerate our work with customers worldwide and drive further technological innovation.' Leading utilities across the Americas, Europe, and the APAC region partner with Smart Wires to address critical grid challenges, with hundreds of power flow control devices deployed across four continents. Recent deployments include projects with Central Hudson Gas & Electric, National Grid Electricity Transmission, and ISA TRANSELCA. The company is also working on upcoming projects with Southern Company and Georgia Tech, Avista Utilities and Idaho Power, ISA ENERGIA BRASIL, and many other utilities. 'Smart Wires' solutions increase existing grid capacity and reliability in a way that addresses growing energy needs,' said Ramon Betolaza, managing director of BP Energy Partners. 'We believe the company will be a critical player in the global energy transition, as its solutions offer the fastest way to tackle increasing electricity demand. This is why the company is seeing such strong traction in the market.' Smart Wires will use this financing to further scale its commercial operations in 2025 and beyond to address the growing market opportunity. For example, a recent Goldman Sachs Research found that data center power demand will grow 160% by 2030. 'With the global energy landscape undergoing rapid transformation, now is the time to capitalize on rising market demand,' said Christopher Bass, principal, Keystone Group. 'Smart Wires has the most impactful solutions and the best team in place to seize this opportunity and drive substantial growth in the coming years. The company's solutions, which are not dependent on grid circumstances or weather, ensure that utilities have the ultimate flexibility to reliably address congestion issues at any time.' Smart Wires' grid-enhancing technologies and services provide the fastest and most cost-efficient path to meet increasing electricity demand. To learn more, visit About Smart Wires Smart Wires is a leading grid enhancing technology and services provider. We help electric utilities unlock capacity and solve their critical grid issues, using our solutions to create a more flexible, reliable and affordable grid. This enables a faster, more cost-efficient path to meet growing electricity demand with clean energy generation, at lowest cost to consumers. Headquartered in the Research Triangle of North Carolina, Smart Wires has a global workforce of passionate and visionary industry-leading experts across four continents, who work every day to transform grids globally. In collaboration with our customers and partners, we've unlocked nearly 4 gigawatts (GW) capacity—enough to power over 2.5 million homes—supporting the faster integration of clean energy and new demand, enhancing security of supply and delivering cost savings to consumers. SOURCE: Smart Wires PUB: 01/29/2025 09:00 AM/DISC: 01/29/2025 09:01 AM
