Corinex Obtains $30 Million Investment for Grid Flexibility Expansion
Deal News | Apr 08, 2025 | PR Newswire Cision Corinex Communications
Corinex Communications, a leader in broadband over power line (BPL) technology, announced an investment round of $30 million led by Energy Growth Momentum, Suma Capital, and Adara Ventures. The funding aims to enhance the deployment of Corinex's grid visibility and flexibility solutions globally, supporting the massive integration of low-carbon technologies and the digitization of energy networks. Highlighting the strategic importance of real-time solutions to accommodate rapid electrification in various sectors, Corinex plans to expand its market presence in key European countries like Germany, Spain, and the UK. The investment signifies confidence in Corinex's offerings to improve grid resilience and support decarbonization goals. Investors emphasized the role of Corinex's technology in transforming energy infrastructure into more intelligent and responsive systems, aligning with Europe's energy transition objectives.
Sectors
- Energy Technology
- Private Equity & Venture Capital
Geography
- Canada – Corinex is based in Vancouver, British Columbia, Canada.
- United Kingdom – Energy Growth Momentum, a key investor, is based in the UK.
- Spain – Investor Suma Capital is based in Spain, and Spain is also a target market for Corinex's expansion.
- Germany – A key target market for Corinex's expansion and deployment of its solutions.
Industry
- Energy Technology – Corinex's solutions focus on digitizing energy networks, making them pivotal in the energy technology space.
- Private Equity & Venture Capital – The investment by firms like Energy Growth Momentum, Suma Capital, and Adara Ventures falls within the private equity and venture capital sector.
Financials
- 30 million USD – The total investment amount received by Corinex for expanding its grid solutions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Corinex Communications | Target company | Company | A provider of broadband over power line (BPL) technology solutions for energy grid flexibility and visibility. |
| Energy Growth Momentum | Investor | Company | A UK-based private equity firm specializing in energy technology investments. |
| Suma Capital | Investor | Company | A Spanish investment firm focused on sustainable projects and green transition. |
| Adara Ventures | Investor | Company | A European venture capital firm investing in advanced technology companies. |
| Peter Sobotka | CEO of Corinex | Person | Founder and CEO of Corinex, leading the company's strategic vision. |
| John Wilson | Partner at Energy Growth Momentum | Person | Partner at Energy Growth Momentum, highlighting the strategic alignment of Corinex's technology with energy grid modernization. |
| Natalia Ruiz | Senior Partner at Suma Capital | Person | Senior Partner at Suma Capital, emphasizing EU decarbonization objectives. |
| Alberto Echeverri | Partner at Adara Ventures | Person | Partner at Adara Ventures, focusing on strategic investments in energy solutions. |