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Corinex Secures $30 Million in Funding for Grid Solutions

Corinex, a frontrunner in grid visibility and flexibility solutions based on broadband over power lines (BPL), has recently announced an impressive funding round totaling $30 million. This investment was spearheaded by U.K.-based Energy Growth Momentum and supported by Spanish firms Suma Capital and Adara Ventures. This funding is set to advance Corinex's mission to enhance and globalize its grid flexibility solutions, a move deemed essential for the future of energy distribution.

The primary objective of this investment is to scale the deployment of Corinex’s innovative capabilities, particularly in the realms of real-time grid visibility and dynamic load balancing. As electricity systems worldwide are under increasing pressure due to the rising demand for renewable energy sources, Corinex's technology promises to alleviate grid constraints and improve the overall security and resilience of energy infrastructures.

Key Developments in Grid Modernization

The funding is strategically targeted at expanding operations in key European electricity markets, including Germany, Spain, and the U.K. In these regions, leading grid operators are actively engaging in the standardization of new use cases designed to support low-voltage grids necessary for large-scale decarbonization efforts.

Corinex’s technology and expertise in providing BPL solutions have already been validated for effective implementation. The high data rates and real-time load balancing provided by Corinex are seen as critical in enhancing the capacities of low-voltage energy infrastructures globally.

Vision for Smart and Resilient Grids

Peter Sobotka, the Founder and CEO of Corinex, articulated the pressing need for innovative solutions in the energy sector. He highlighted that, “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.” He stressed that Corinex's technology is uniquely positioned to transform grid management, allowing for instant capacity increases at a low cost. By collecting and processing real-time data from the low-voltage grid, their solutions offer a pathway to enhance grid resilience while securely managing data flows.

Emphasizing the Stakeholder Perspective

The investment round has garnered support from notable partners who are equally invested in the energy transition. John Wilson, a partner at Energy Growth Momentum, pointed out the increasing strain on global energy grids as the shift to renewable sources accelerates. He expressed confidence that Corinex's technology presents a smart, software-driven approach to managing grid congestion and ensuring stability without the need for expensive infrastructure overhauls.

Similarly, Natalia Ruiz from Suma Capital noted the alignment of Corinex's solutions with European decarbonization goals, underscoring their role in developing a resilient and sustainable power system. Ruiz mentioned that the demand for advanced grid intelligence was more critical than ever as Europe continues its energy transition.

Alberto Echeverri from Adara Ventures echoed this sentiment, stating that investing in Corinex is an opportunity to support a company at the forefront of grid management innovation.

Corinex's Role in the Energy Ecosystem

Corinex operates as a pioneering provider of BPL-based grid visibility and flexibility solutions that facilitate the digital transformation of energy distribution systems globally. Their technologies accelerate the integration of low-carbon technologies, automate electricity infrastructure, and convert traditional grids into dynamic, intelligent energy systems crucial for the future.

By enabling utilities around the world to efficiently manage the ongoing transition to renewable energy while ensuring grid reliability and resilience, Corinex is setting a new standard in energy management. With strong backing from influential investment partners, Corinex is poised to lead the charge toward smarter, more sustainable energy solutions for decades to come.

For more information, you can contact Corinex's media relations team.