Corinex Expands with $30 Million Investment
Deal News | Apr 09, 2025 | PR Newswire Cision Corinex Communications
Corinex Communications, a leader in broadband over power lines (BPL) solutions, announced a significant $30 million investment to scale its grid flexibility and visibility solutions. Led by UK-based Energy Growth Momentum and supported by Spanish firms Suma Capital and Adara Ventures, the investment aims to expand Corinex's real-time, standardized solutions across key European power markets such as Germany, Spain, and the United Kingdom. This funding will support the integration of distributed low-carbon technologies (LCTs) and transform traditional challenges into smart, software-driven solutions without requiring costly infrastructure overhauls. The collaborative support from these investment firms aligns with EU decarbonization goals and the urgent need for grid modernization amid the shift to renewable energy sources. Corinex's cutting-edge technologies, validated in European markets, enable enhanced resilience and real-time data management in low-voltage networks, driving the digital transformation of global energy systems.
Sectors
- Energy Technology
- Private Equity & Venture Capital
Geography
- United Kingdom – Home to Energy Growth Momentum, which is leading the investment round.
- Spain – Location of Suma Capital and Adara Ventures, participating in the investment.
- Germany – One of the key European markets where Corinex's grid solutions will be deployed.
- Canada – Corinex is based in Vancouver, BC, and is expanding its global reach from there.
Industry
- Energy Technology – Involves the development and integration of innovative technological solutions to enhance the efficiency, resilience, and flexibility of energy systems, especially in the context of renewable resources and grid modernization.
- Private Equity & Venture Capital – Involves funding and investing in companies or startups to support their growth and expansion, particularly those offering transformative technologies in the energy sector as demonstrated by the involvement of Energy Growth Momentum, Suma Capital, and Adara Ventures.
Financials
- $30 million – The total investment amount led by Energy Growth Momentum, Suma Capital, and Adara Ventures in Corinex.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Corinex Communications | Target Company | Company | A leading provider of broadband over power line solutions focused on enhancing grid flexibility and visibility. |
| Energy Growth Momentum | Lead Investor | Company | A UK-based private equity firm investing in technology to improve energy efficiency and sustainability. |
| Suma Capital | Investor | Company | A Spanish investment firm focused on sustainability and ecological transformation. |
| Adara Ventures | Investor | Company | A Spanish venture capital firm investing in cutting-edge technology companies across Europe. |
| Peter Sobotka | CEO and Founder | People | Founder and CEO of Corinex involved in the technological and strategic direction of the company. |
| John Wilson | Partner at Energy Growth Momentum | People | A partner emphasizing the importance of grid modernization and investment in Corinex. |
| Natalia Ruiz | Senior Partner at Suma Capital | People | A senior partner supporting the investment in Corinex in alignment with EU decarbonization goals. |
| Alberto Echeverri | Partner at Adara Ventures | People | A partner highlighting the strategic opportunity presented by investing in Corinex. |