Corinex Announces $30 Million Investment Led by Energy Growth Momentum

  Posted by: electime      9th April 2025

With recent power outages in Cornwall, the substation fire near Heathrow, and growing strain from EVs, heat pumps and rooftop solar, the question of grid resilience is once again in the spotlight. One company making waves in this space is Corinex, a Vancouver-based grid tech firm that just raised $30 million USD from Energy Growth Momentum, Suma Capital, and Adara Ventures to scale its broadband over power line (BPL) solution across Europe, including the UK.

Corinex’s tech transforms existing low-voltage power lines into high-speed data networks, giving utilities real-time visibility, dynamic load balancing, and enhanced resilience at the grid edge — without the need for major infrastructure overhauls. It’s already being deployed by leading utilities in Germany, Spain and the UK to relieve congestion, integrate low-carbon technologies, and better manage demand spikes and outages. In short: it’s a capital-light, standards-based approach to strengthening grid resilience as electrification accelerates.

Corinex, a global leader in broadband over power lines (BPL)-based grid visibility and flexibility solutions, has announced 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 standardising 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 decentralised 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 standardised—new use cases for the low-voltage grid necessary for mass decarbonisation. 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, emphasised 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 digitalisation 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 decarbonisation.”

Investor Perspectives

John Wilson, Partner at Energy Growth Momentum, underscored the growing demand for grid modernisation:

“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 decarbonisation 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, emphasised 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 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.