European firms invest in broadband over powerlines grid tech
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Vancouver-based Corinex, which develops broadband over powerlines (BPL)-based grid visibility and flexibility solutions, has secured a $30 million investment round led by firms in the UK and Spain.
The funding will fuel Corinex’s expansion in standardising and delivering real-time grid flexibility and visibility solutions. The company’s tech aims to resolve grid constraints while enhancing the resilience and security of energy systems.
The investment round was led by UK-based Energy Growth Momentum, along with Spanish investment firms Suma Capital, an independent alternative asset manager, and Madrid-based Adara Ventures, which specialises in early-stage deep tech investments.
The investment will support Corinex’s tech deployments in major European electricity markets, including Germany, Spain and the UK, where leading grid operators have formulated—and, in some countries, already standardised—new use cases for the low-voltage grid.
Corinex provides standards-based BPL solutions that have been validated for implementation. The high data rate, edge computing capabilities and real time (dynamic) load balancing provided by Corinex technology enable increasing the capacity of low-voltage energy infrastructure.
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Peter Sobotka, Founder & CEO of Corinex, commented in a release: “The world’s energy grids are at a critical juncture, requiring scalable, real-time solutions to accommodate the rapid electrification of transportation, heating, and decentralised renewables.
“The Corinex solution was developed, validated, and is now in mass rollouts within real grid environments of the most advanced European utilities.
“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. Such a combined solution will push grid digitalisation to the next new frontiers.”
Said John Wilson, partner at Energy Growth Momentum: “Energy grids globally are under increasing strain as the transition to renewables accelerates.
“Corinex’s technology turns a traditional infrastructure challenge into a smart, software-driven solution – enabling utilities to dynamically manage grid congestion and maintain stability, all without costly infrastructure overhauls.
“Our investment reflects our belief that Corinex is uniquely positioned to build the stable, flexible grids the future demands – a vision that aligns with our focus on supporting high-growth companies driving the energy transition.”
Natalia Ruiz, senior partner at Suma Capital: “As Europe intensifies its energy transition, the demand for advanced grid intelligence solutions is more critical than ever.
“These solutions are the backbone of a resilient and sustainable power system. Corinex’s ability to deliver comprehensive, real-time control and end-to-end visibility over distribution networks is pivotal in enabling progress toward a low carbon economy.
