#Canada #Vancouver #Corinex #energy investment #Grid Flexibility

Corinex Secures $30 Million Investment for Grid Flexibility Solutions

Corinex, a prominent player in the energy solutions sector, recently announced a significant investment round, raising $30 million to bolster its innovative grid flexibility solutions. This round is notably led by Energy Growth Momentum, a UK-based private equity firm, along with notable participants such as Suma Capital and Adara Ventures. The infusion of capital marks a pivotal moment for Corinex as it aims to scale its Broadband over Power Lines (BPL) technology, which has been generating buzz in the energy sector for its potential to enhance grid transparency and flexibility.

The primary objective of this investment is to expand the deployment of Corinex's state-of-the-art solutions that provide real-time visibility and management capabilities over electrical grids. These solutions are designed to address pressing concerns related to network congestion, while simultaneously improving the resilience and security of energy systems on a global scale. As energy demands surge and the push for renewable technologies intensifies, Corinex's offerings position it at the nexus of energy innovation and sustainability.

Peter Sobotka, the founder and CEO of Corinex, expressed his enthusiasm about the strategic importance of this investment. He underscored the urgent need for scalable real-time solutions that can meet the growing demands of electrification across transportation, heating, and renewable energy sectors. According to Sobotka, the BPL-based technology developed by Corinex offers a revolutionary approach that enables immediate increases in grid capacity at minimal costs. Furthermore, the company’s solutions have already been validated in real-world power network environments, showcasing their effectiveness in managing low-voltage networks.

The investment will specifically support Corinex’s ongoing projects within key European electricity markets, including Germany, Spain, and the UK. Here, leading grid operators are already formulating new applications and standards necessary for widespread decarbonization. As an active participant in standardization industry associations, Corinex offers validated BPL solutions that meet these emerging needs. The technology’s capacity to manage high data rates and perform edge computing is pivotal in enhancing the capability of low-voltage energy infrastructures worldwide.

Empowering the Energy Transition

The vision behind this investment extends beyond mere profitability; it reflects a collective aim to create smarter, more resilient energy networks globally. John Wilson, a Partner at Energy Growth Momentum, highlights the increasing strain on energy networks due to the rapid transition to renewable sources. He believes that Corinex’s technology transforms traditional infrastructure challenges into intelligent, software-driven solutions, allowing utility companies to handle grid overloads efficiently without incurring hefty infrastructure overhaul costs.

Similarly, Natalia Ruiz, Senior Partner at Suma Capital, emphasized how Corinex aligns with the European Union's decarbonization targets. With Europe ramping up its energy transition strategy, the demand for advanced grid solutions has become critical. Corinex's ability to offer comprehensive real-time control and end-to-end transparency over distribution networks is essential for progressing towards a low-carbon economy.

Alberto Echeverri, Partner at Adara Ventures, echoed the strategic nature of the investment, citing it as a unique opportunity to support a company reimagining network management. With a background in semiconductor investments, Echeverri points to Corinex's potential to lead the next wave of grid innovations.

About Corinex

Founded with a vision to transform energy distribution, Corinex is recognized as a cutting-edge provider of BPL-based grid solutions. By facilitating the digital transformation of energy systems worldwide, Corinex’s products accelerate the mass integration of low-carbon technologies and enable utilities to modernize their infrastructures.

The company is committed to automating the electricity infrastructure, ultimately transitioning power grids into dynamic, intelligent energy systems. As global energy demands evolve, Corinex’s role is increasingly vital in shaping a sustainable energy future.

For further information about Corinex and its groundbreaking solutions, visit Corinex Communications.