GE Ventures And Edison Energy Invest In Enbala Power Networks
GE Ventures and Edison Energy, a subsidiary of Edison International, have joined together to provide $11 million in new equity financing for Enbala Power Networks, developer of industry-changing solutions for distributed energy resource management.
They join existing investors — Export Development Canada, EnerTech Capital Partners, Sorfina Capital and Chrysalix EVC in encouraging the growth of advanced solutions for distributed energy resource management, important in creating flexible, smarter and greener grids.
Enbala technology is already being used by PJM Interconnection, New Brunswick Power, IESO and other utilities and grid operators to: firm renewable energy resources, leverage customer-side assets for ancillary services such as frequency regulation, mitigate substation upgrades and reduce the use of traditional generation resources for spinning reserves.
Bud Vos, Enbala CEO notes that “The Enbala alliance includes the energy industry’s largest and most well-respected companies…with a reputation for backing winning products.”
“This puts us in an excellent position to become the leading company in the growing distributed energy resource management market with an industry leading platform for optimization and control.”
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