Corinex has secured a $30 million investment round led by Energy Growth Momentum, Suma Capital, and Adara Ventures to expand its broadband over power lines (BPL) grid visibility and flexibility solutions. This funding will support Corinex’s efforts in standardizing and delivering real-time grid flexibility solutions, aiming to enhance energy systems’ resilience and security globally and promote the adoption of decentralized low-carbon technologies.
The investment will also aid in Corinex’s deployments in major European electricity markets like Germany, Spain, and the U.K., where leading grid operators are exploring new use cases for low-voltage grids to support decarbonization efforts. Corinex’s technology offers high data rates, edge computing capabilities, and dynamic load balancing, crucial for boosting the capacity of low-voltage energy infrastructure worldwide.
Peter Sobotka, Founder & CEO of Corinex, highlighted the significance of this investment in meeting the evolving needs of energy grids worldwide. Corinex’s BPL-based technology provides scalable solutions for grid enhancement, enabling increased grid capacity at a low cost. The technology has been validated and is being rolled out by advanced European utilities, enhancing grid resiliency and supporting real-time control of low-carbon technologies. Corinex’s ability to securely collect and manage low-voltage grid data positions them uniquely to collaborate with AI technology providers. Title: Corinex’s Intelligent Infrastructure Solutions Driving Grid Modernization
Corinex’s recent investment from Energy Growth Momentum, Suma Capital, and Adara Ventures is propelling grid digitalization to new heights. This combined solution not only boosts Corinex’s growth and profitability but also instills confidence in the scalability and mass adoption of its intelligent infrastructure solutions. These solutions are essential in enhancing grid resiliency and supporting decarbonization efforts on a global scale.
Investor Perspectives
John Wilson, Partner at Energy Growth Momentum, emphasizes the increasing demand for grid modernization as energy grids worldwide face challenges amidst the transition to renewables. Corinex’s technology offers a smart, software-driven solution that enables utilities to manage grid congestion dynamically and maintain stability without expensive infrastructure overhauls. The investment reflects Energy Growth Momentum’s belief in Corinex’s ability to build stable, flexible grids that align with the future energy transition goals.
Natalia Ruiz, Senior Partner at Suma Capital, highlights the importance of advanced grid intelligence solutions in meeting EU decarbonization goals. She acknowledges Corinex’s role in delivering real-time control and visibility over distribution networks, crucial for progress towards a low carbon economy. Suma Capital’s support for Corinex’s vision and international expansion aligns with their mission of driving sustainable energy investments and addressing the challenges of the energy transition.
Alberto Echeverri, Partner at Adara Ventures, sees the strategic value of investing in Corinex as a company reshaping grid management. Building on their successful investments in smart energy technologies, Adara Ventures recognizes Corinex’s potential to lead the next generation of grid innovation.
About Corinex
Corinex leads the way in providing broadband over power lines (BPL)-based solutions for grid visibility and flexibility, facilitating the digital transformation of energy distribution systems globally. Their products accelerate the integration of low-carbon technologies, automate electricity infrastructure, and create a dynamic and intelligent energy system.
About Energy Growth Momentum
Energy Growth Momentum focuses on investing in operational and digital technologies that enhance the efficiency of energy assets, aiming to create a sustainable and flexible energy ecosystem. Their strategy centers on scaling companies delivering innovative solutions for grid modernization, decarbonization, and energy resilience.
About Suma Capital
Suma Capital is a leader in ecological transition investments, managing assets worth over 1.2 billion euros. With a focus on sustainability, Suma Capital’s investment programs aim to drive growth in sustainable infrastructure, growth capital, and venture capital, supporting companies like Corinex in advancing towards a low carbon economy.
About Adara Ventures
Adara Ventures specializes in deep tech investments and has a track record of helping innovators achieve global success. Their portfolio includes companies in cybersecurity, data applications, hardware components, digital health, space tech, and energy transition technologies.
In conclusion, Corinex’s intelligent infrastructure solutions supported by strategic investments are crucial in driving grid modernization and decarbonization efforts. The collaboration between Corinex and investors like Energy Growth Momentum, Suma Capital, and Adara Ventures signifies a commitment to building a sustainable and resilient energy future. For more information, visit Corinex Communications.
