Camus Energy raises 25 mn USD to optimize renewables and the energy grid

Power grid optimization software company Camus Energy recently announced the closing of a 10 million USD extension to its Series A funding round, bringing the total raised to 25 million USD. The finances will be used to support the growth of the platform that will enable grid operators to address growing electricity demand.

As per ESG Today, 2019-founded Camus Energy offers a software solution that enables grid operators to forecast electricity uses in a specific area and manage the network accordingly. Additionally, the company's solution allows grid operators to make informed decisions on expanding the infrastructure, so that renewable sources can work at their maximum potential.

Collaborating with experts at Google, Amazon and Meta, Camus is able to shift from a model-based grid optimization approach, to a data-driven grid management system.

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As per officials, the company will use the funding to expand its customer base, invest in research and development to improve the platform, as well as grow its ecosystem of partners. Camus executives reported an increase in the annual recurring revenue of 500% since mid-2021, while serving 2,9 million customers in nine states.

Camus CEO and Co-Founder Astrid Atkinson said that "utilities are actively seeking out grid orchestration capabilities to integrate new sources of generation and demand. It’s our job to make that transition as smooth and efficient as possible."

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