Canadian broadband over power lines (BPL) company Corinex has raised $30m to scale the deployment of its grid flexibility and visibility technology.

This funding will fuel Corinex’s expansion in standardising and delivering real-time grid flexibility and visibility. By resolving grid constraints while enhancing the resilience and security of energy systems worldwide, this collaborative effort paves the way for the mass adoption of decentralised low-carbon technologies (LCTs).

The investment will support Corinex’s ongoing deployments in major European electricity markets, including Germany, Spain and the UK, where grid operators have formulated, and in some countries already standardised, use cases for the low-voltage grid necessary for mass decarbonisation.

Corinex provides standards-based BPL that has been validated for implementation. The high data rate, edge computing capabilities and real-time dynamic load balancing provided by the technology can help increasethe capacity of low-voltage energy infrastructure worldwide.

“The world’s energy grids are at a critical juncture, requiring scalable, real-time options to accommodate the rapid electrification of transportation, heating and decentralised renewables,” said Peter Sobotka, CEO of Corinex (www.corinex.com). “Corinex’s BPL-based technology offers a transformational approach to grid enhancement enabling the instant increase of the grid capacity at low cost.”

The technology was developed, validated and is now in mass rollouts within real grid environments at European utilities. It collects and processes real-time data on the low-voltage part of the grid. The technology increases grid resiliency by providing real-time control of low-carbon technologies.

“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,” said Sobotka. “Such a combination will push grid digitalisation to the next new frontiers.”

The $30m investment round led by UK-based Energy Growth Momentum, along with Spanish investment firms Suma Capital, an independent alternative asset manager and a specialist in ecological transition, and Adara Ventures.

“Corinex’s growth, profitability, and this investment by Energy Growth Momentum, Suma Capital and Adara Ventures provide confidence in scaling and mass adoption of Corinex’s intelligent infrastructure that enhances grid resiliency and supports decarbonisation,” said Sobotka.

John Wilson, partner at Energy Growth Momentum (egmomentum.com), added: “Energy grids globally are under increasing strain as the transition to renewables accelerates. 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.”

And Natalia Ruiz, senior partner at Suma Capital (sumacapital.com), said: “As Europe intensifies its energy transition, the demand for advanced grid intelligence is more critical than ever. At Suma Capital, we have been driving the shift towards sustainable energy for nearly two decades through investments in cutting-edge infrastructure and technologies. Supporting Corinex’s vision and international expansion not only advances our mission as a sustainable and impact-driven fund but also reaffirms our commitment to tackling the core challenges of this transition.”

Alberto Echeverri, partner at Adara Ventures (www.adara.vc), said: “Investing in Corinex represents a unique opportunity to support a company that is redefining grid management. Building on our successful past investment in a fabless semiconductor company specialising in power line communication (PLC) chipsets for smart energy, we see immense potential in Corinex’s ability to lead the next generation of grid innovation.”