Power Quality Technology Leader Partners with Clean Tech-Focused Investor EGM to Drive Expansion
ALAMEDA, Calif., Dec. 12, 2023 /PRNewswire-PRWeb/ -- Powerside is pleased to announce its successful completion of funding with growth capital investment firm Energy Growth Momentum LLP (EGM).
Powerside plays a pivotal role in the advancement of the electric power market, due to its unique ability to analyze, detect and correct power quality issues across multiple industries arising from the increasing transformation of electrical power generation and distribution.
"We are excited to have EGM lead Powerside's latest round of growth funding," said Wally Hunter, Managing Partner at EnerTech Capital, a current investor in Powerside. "We believe this financing will help expand and propel Powerside's power quality product platform, which addresses the growing need for increased visibility on the grid edge and continued rapid growth and expansion of distributed energy assets."
Energy Growth Momentum, focused on proven digital technology and carbon efficiency in energy assets, brings growth capital and a wealth of strategic expertise in market positioning to an already experienced group of investors.
"EGM's support enables Powerside to further improve and expand our product offerings and market positioning as the demand for power quality visibility and solutions increases with transformation to our energy infrastructure, both domestically and internationally," said Dr. Ross Dueber, CEO at Powerside.
"Powerside's product solutions and its investment in power quality measurement and correction provides a differentiating technology to enable grid transformation that aligns with EGM's strategy to back talented, innovative management with the capital to achieve growth," said John Wilson, founding member of Energy Growth Momentum LLP.
EGM supports innovative technology in the energy sector, with a track record of investments focusing specifically on sustainable resources across international markets.
About Energy Growth Momentum
Energy Growth Momentum is a growth equity investor, focusing on high-growth digital solutions, necessary to drive decentralized and decarbonized energy infrastructure. We back talented management running proven operational and digital technological ventures, in their next phase of growth by providing them with capital, operational expertise and an industrial network.
About Powerside
Powerside has a 75-year legacy in power quality. The company has deployed over 80,000 monitoring solutions and over 15,000 power corrections projects in over 50 countries. Its expert team utilizes a customer-centric approach and a suite of tailored measurement, intelligence, and correction solutions to help customers quickly identify and meet power quality challenges head-on. Visit powerside.com for more information.
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SOURCE Powerside
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