Corinex Announces $30 Million Investment Led by Energy Growth Momentum, Suma Capital and Adara Ventures to Scale the Deployment of its Grid Flexibility Solutions
Funding to scale the global deployment of Corinex's broadband over power lines (BPL) grid flexibility and visibility solutions for transformative grid digitalization.
VANCOUVER, BC, April 8, 2025 /PRNewswire/ -- Corinex, a global leader in broadband over power lines (BPL)-based grid visibility and flexibility solutions, today announces a $30 million investment round led by U.K.-based Energy Growth Momentum, along with Spanish investment firms Suma Capital, an independent alternative asset manager and a leader in ecological transition, and Adara Ventures. This funding will fuel Corinex's expansion in standardizing and delivering real-time grid flexibility and visibility solutions. 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 decentralized low-carbon technologies (LCTs).
The investment will support Corinex's ongoing deployments in major European electricity markets, including Germany, Spain, and the U.K., where leading grid operators have formulated—and, in some countries, already standardized—new use cases for the low-voltage grid necessary for mass decarbonization. As a key contributor to industry-standardization associations, 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 are essential for increasing the capacity of low-voltage energy infrastructure worldwide.
A shared vision for smarter, more resilient grids
Peter Sobotka, Founder & CEO of Corinex, emphasized the strategic importance of this investment:
"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. Corinex's BPL-based technology offers a transformational approach to grid enhancement enabling the instant increase of the grid capacity at low cost.
The Corinex solution was developed, validated, and is now in mass rollouts within real grid environments of the most advanced European utilities. It collects and processes real-time data on the low-voltage part of the grid. Our 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. Such a combined solution will push grid digitalization to the next new frontiers.
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 solutions that enhance grid resiliency and support decarbonization."
Investor Perspectives
John Wilson, Partner at Energy Growth Momentum, underscored the growing demand for grid modernization:
"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, highlighted the alignment with EU decarbonization goals:
"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. At Suma Capital, we have been driving the shift toward 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, emphasized the strategic nature of the investment:
"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 specializing 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.
About Corinex
Corinex is a pioneering provider of broadband over power lines (BPL)-based grid visibility and flexibility solutions, enabling the digital transformation of energy distribution systems worldwide. The company's products accelerate the mass integration of low-carbon technologies (LCTs), automate electricity infrastructure, and transform the grid into a dynamic and intelligent energy system.
About Energy Growth Momentum
Energy Growth Momentum (EGM) is a UK-based private equity firm dedicated to investing in proven operational and digital technologies that enhance the commercial and carbon efficiency of energy assets. By providing growth capital to high-growth energy technology companies, EGM aims to foster a more sustainable, efficient, and flexible energy ecosystem. The firm's investment strategy centers on scaling companies that deliver innovative solutions to address grid modernization, decarbonization, and energy resilience.
About Suma Capital
Suma Capital is an independent alternative asset manager, a leader in ecological transition. The firm focuses its investments on sustainability through three different programs: Sustainable Infrastructure, Growth Capital and Venture Capital. Suma Capital, managing more than 1.2 billion euros in assets, was founded in 2007 and has become a European reference, with a presence in Barcelona, Madrid and Paris.
About Adara Ventures
Adara Ventures is a leading European venture capital firm specializing in deep tech investments. Founded in 2005, the firm manages over €350 million in assets and has a track record of helping high-potential innovators achieve global success. Adara's portfolio focuses on innovative companies in areas such as cybersecurity, data applications and infrastructure, hardware components, digital health, space tech, and energy transition technologies. For more information, visit www.adara.vc.
For further information, please contact Corinex's media relations team at jan.sobotka@corinex.com.
PR Contact: Jan Sobotka, Corinex, +1 604-692-0520, jan.sobotka@corinex.com
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