US-based Smart Wires has secured $65m to expand its grid-enhancing technologies and services, including the SmartValve advanced power flow control device, for addressing growing energy demands driven by data centres and AI.
This funding round includes new investments from BP Energy Partners and contributions from the Keystone Group.
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The company’s technologies are designed to provide utilities with the flexibility to manage capacity and load issues on the electric grid.
Smart Wires’ grid-enhancing solutions have enabled utilities to unlock 4GW of firm capacity from their existing networks.
The SmartValve device can be quickly deployed, adjusted or relocated to meet changing demands and integrate new power generation sources, making it a vital tool for addressing the increasing global energy requirements sustainably and cost-effectively.
Smart Wires CEO Joanna Lohkamp stated: “The urgent need for solutions that create more energy capacity has never been clearer, and every day we see validation of the transformative work our team is doing through real gigawatts unlocked.
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By GlobalData“With this additional funding and our strong partnership with BP Energy Partners and Keystone Group — we’ll be able to accelerate our work with customers worldwide and drive further technological innovation.”
With several power flow control devices already operating across the Americas, Europe and the Asia Pacific region, leading utilities are partnering with Smart Wires to tackle critical grid challenges.
The company has recently been involved in projects with Central Hudson Gas & Electric, National Grid Electricity Transmission and ISA Transelca.
Smart Wires is gearing up for future projects with Southern Company, Georgia Tech, Avista Utilities, Idaho Power and ISA Energai Brasil.
BP Energy Partners managing director Ramon Betolaza stated: “Smart Wires’ solutions increase existing grid capacity and reliability in a way that addresses growing energy needs.
“We believe the company will be a critical player in the global energy transition, as its solutions offer the fastest way to tackle increasing electricity demand. This is why the company is seeing such strong traction in the market.”
The new capital will be instrumental for Smart Wires as it plans to scale its commercial operations in 2025.
In February 2024, Smart Wires and RWE partnered to enhance offshore wind connections.
The partnership seeks to improve offshore wind power integration into the grid using Smart Wires’ SmartValve technology for long heating, ventilation and airconditioning or high-voltage direct current cable circuits.
