Cofundit is happy to announce the opening of funding for Xemtec. We find this company interesting because they have developed a method to convert installed power meters into smart meters. Traditional power meters measure electrical consumption at a particular residence or business. Xemtec has developed an innovative technology that allows these meters to be read automatically, with this information transmitted to the business or resident, as well as the utility. This makes it possible for both the consumer and the utility to adjust their consumption or production of electricity.