Smart grid provider GridBeyond opens office in Houston
Distributed Energy Resource Management – a leading European smart grid platform provider — opened its first U.S. office in Houston.
The subsidiary, called GridBeyond, will focus energy markets throughout the United States, starting with the Electricity Reliability Council of Texas (ERCOT) and PJM Interconnection energy markets.
GridBeyond brings an AI-powered platform called Point, which connects grid operators, C&I operational load, power suppliers and PPA providers, distributed generation, energy storage, E.V. charging, and utilities to support the balancing of demand and supply on the grid.
“After months of research and preparation work with our investors and American partners, we are delighted to announce GridBeyond’s expansion into the U.S. and the opening of our new office in Houston,” Wayne Muncaster, vice-president for North America operations, who leads on the U.S. expansion, said. “For many years, Houston has been recognized as a leading center for the global energy industry. We are proud to launch our U.S. operations from here and to add our presence to the growing number of energy tech companies choosing this area as their base. We expect our U.S. team to grow to fifty employees across the country within the next three years.”
Last week, the company concluded its Series B financing round, with several high-profile partners, including EDP – Energias De Portugal, Act Venture Capital, Electricity Supply Board (ESB), and Total Carbon Neutral Ventures, investing in an $11.7 million for international expansion.
“Having achieved and maintained the leading position in the European market, it is a natural progression for GridBeyond to expand our intelligent energy and smart grid services into the world’s biggest market for Distributed Energy Resource Management,” Michael Phelan, chief executive and co-founder at GridBeyond, said. “By extending our business into the U.S., some of the world’s biggest producers and manufacturers across multiple industries will be able to benefit from fast-acting automation and optimization. By managing energy demand assets and distributed generation through our AI-driven intelligent energy technology platform, Point, businesses will see the benefits without impact on their operations. Our expansion into the U.S. marks a significant step forward in the growth of GridBeyond. There is a rising global demand for advanced automation technologies driven by the energy transition toward digitalization, decarbonization, and decentralization. This creates opportunities for further dynamic growth of our business.”
