Corinex Secures $30 Million for Global Grid Flexibility Expansion
Corinex Secures Major Investment to Enhance Grid Flexibility Solutions
Funding to scale the global deployment of Corinex's broadband over power lines (BPL) grid flexibility and visibility solutions for transformative grid digitalization.
Corinex, a global leader in broadband over power lines (BPL)-based grid visibility and flexibility solutions, announces a significant $30 million investment round led by U.K.-based Energy Growth Momentum, along with Spanish investment firms Suma Capital, and Adara Ventures. This funding will support Corinex's growth in standardizing and delivering real-time grid flexibility and visibility solutions that are essential for enhancing the resilience and security of energy systems worldwide, promoting the mass adoption of decentralized low-carbon technologies.
Bridging the Gap in Energy Systems
The investment aims to facilitate Corinex's ongoing efforts in major electricity markets, where leading grid operators are implementing necessary advancements for mass decarbonization. By offering validated, standards-based BPL solutions, Corinex helps resolve grid constraints, enabling efficient integration of low-carbon technologies into existing infrastructures.
A Vision for Smart Grids
Peter Sobotka, Founder & CEO of Corinex, highlighted the necessity of scalable, real-time solutions as energy grids undergo significant changes.
He stated, "The world's energy grids are at a critical juncture, requiring scalable, real-time solutions to accommodate the rapid electrification of transportation, heating, and decentralized renewables. Corinex's BPL-based technology provides an innovative approach to enhance grid capacity cost-effectively."
Enhancing Grid Resilience and Intelligence
Corinex's technology, which has been developed and implemented by leading European utilities, processes real-time data for improved management of low-voltage grids. By collecting and managing crucial grid data securely, Corinex is well-positioned to collaborate with AI technology providers, pushing the boundaries of grid digitalization.
Investments from Energy Growth Momentum, Suma Capital, and Adara Ventures signify strong confidence in Corinex's intelligent infrastructure solutions that aim to boost grid resilience and support decarbonization efforts.
Insights from Investors
John Wilson, Partner at Energy Growth Momentum, underscored the increasing demand for modernized grid solutions, noting how Corinex transforms infrastructure challenges into smart, software-driven solutions that help utilities manage grid congestion efficiently.
Natalia Ruiz, Senior Partner at Suma Capital, praised Corinex's ability to deliver vital intelligence for resilient power systems, aligning with the European Union's decarbonization goals.
Alberto Echeverri, Partner at Adara Ventures, emphasized how investing in Corinex is an opportunity within the grid management innovation space, projecting significant potential based on their previous success in similar investments.
About Corinex Technologies
Corinex is a pioneering provider of BPL-based grid visibility and flexibility solutions, driving the digital transformation of global energy distribution systems. The company plays a vital role in accelerating the integration of low-carbon technologies, automating electricity infrastructure, and evolving the grid into an intelligent energy system.
Combating Energy Challenges
As private equity firms like Energy Growth Momentum, Suma Capital, and Adara Ventures continue to back innovative solutions in the energy sector, the imperative to address grid resilience and environmental objectives grows stronger.
Understanding the intersection of technology and design in energy infrastructures, Corinex's mission is to transform how electricity flows through our cities while significantly contributing to a greener future.
Frequently Asked Questions
What is the purpose of Corinex's recent $30 million investment?
The investment aims to enhance the scalability and deployment of Corinex's grid flexibility solutions, promoting real-time capabilities and resilience in energy systems.
How does Corinex's technology support low-carbon initiatives?
Corinex provides solutions that facilitate the integration and management of low-carbon technologies within existing grid infrastructures, promoting sustainable practices in energy consumption.
Who are the main investors in this funding round?
The funding round is led by Energy Growth Momentum, with participation from Suma Capital and Adara Ventures.
What markets are targeted for Corinex's grid solutions?
Corinex is focusing on major European electricity markets, where grid operators are working towards modernizing and standardizing low-voltage grids.
What is the significance of real-time data management in energy systems?
Real-time data management allows for dynamic load balancing and enhanced control over low-voltage grids, vital for increasing capacity and improving resilience as energy demands grow.
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