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Van Meter Inc. invests in Canadian utility monitoring company

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Cedar Rapids-based Van Meter Inc. announced that it has acquired a 25 percent stake in Eyedro Green Solutions Inc., an Ontario-based business that produces electronic systems to monitor residential, commercial and industrial electricity consumption. In a similar fashion to the hit television show “Shark Tank,” Van Meter hosted a four-day investment forum in June in which select entrepreneurs pitched their businesses to company leadership. Van Meter’s vice president of diversified business, Scott Cornish, will have a seat on Eyedro’s board of directors. The Eyedro commercial and residential monitoring systems display real-time detailed data such as power usage, cost streaming, bill estimates, usage comparisons and notifications of power outages. Van Meter earlier this month announced plans to acquire a Chicago-based electrical supplier.