Corinex, a Vancouver-based company specializing in broadband-over-power-line technology for grid visibility and flexibility, has raised $30 million in a funding round led by London-based Energy Growth Momentum, with additional investment from Suma Capital and Adara Ventures.
According to a news release, the funding will support Corinex’s international expansion and accelerate the deployment of its real-time grid management solutions, which are designed to enable the widespread adoption of decentralized, low-carbon energy technologies. The company is currently rolling out its technology in Germany, Spain and the U.K.
“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,” said Peter Sobotka, CEO of Corinex, in a statement. “Corinex’s BPL-based technology offers a transformational approach to grid enhancement, enabling the instant increase of the grid capacity at low cost. The ability to securely collect and manage pools of low-voltage grid data is uniquely positioning Corinex to collaboratively enable some of the many providers of AI technology.”
Corinex said its technology combines high data-rate edge computing with real-time dynamic load balancing, which it sees as essential for increasing the capacity of low-voltage energy infrastructure worldwide.
