Camus Energy a top grid management and technology company, announced this Tuesday it has secured $16 million in a Series A round of investment; led by Park West Asset Management and joined by Congruent Ventures; also, Wave Capital and other investors, including an investor-owned utility.
Firstly, Camus Energy will use the secured capital to expand its grid management software platform; in order to meet growing demand from utilities across North America.
Secondly, Camus Energy offers a one-of-a-kind solution that provides connectivity between the utility’s operations team, its equipment and customer devices; to substations, rooftop transformer and solar systems. This approach allows grid operators to orchestrate utility- and consumer-owned resources from a unified interface; which in turn supports grid reliability and resilience; while compensating local resource owners.
Thirdly, to offer such kind of solution, Camus energy leverages from a growing base of half a million utility customers across the U.S. West; as well as from electric cooperatives like Holy Cross Energy, in Colorado; and Kit Carson Electric Cooperative in New Mexico.
Moreover, confident on the solution that Holy Cross Energy offers, it recently announced its plans to go 100% clean energy; to provide its members with 100% carbon free power by 2030.
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Camus Energy pushing North America’s energy transition
In addition, Holy Cross Energy will precisely utilize Camus’ platform and services to increase its use of local clean energy resources; this would include community and consumer-owned solar arrays and energy storage. Consequently, the company will work with its members to manage peak energy demand; also, integrate increasing amounts of solar energy.
Furthermore, the Camus Energy team spent close to two decades at Google; where they helped to create Google’s high reliability computing platform. Now, at Camus they are stepping into the center of full data integration and integrated control within the grid environment.
On the other hand, in regards to how Camus Energy leverages from cooperatives, Congruent Ventures Managing Director Abe Yokell, said. “It’s exciting to see what’s happening within Camus’ growing customer base; where electric cooperatives are pursuing 100 percent clean energy goals and using Camus’ technology to operate grids that better serve the needs of their members.”
Additionally, Holy Cross Energy CEO, Bryan Hannegan, said. “The Camus grid orchestration platform is already helping us manage our local clean energy resources; and the HCE electric distribution grid in a more flexible and cost-effective manner; while enabling our members and their communities to adopt distributed energy resources to meet their economic; also, environmental and energy resilience needs.”
Finally, Camus CEO and Co-Founder Astrid Atkinson, remarked. “It’s a new era of inclusive energy; our community-centric utility customers and service providers are using the ourplatform to provide their communities a meaningful way to collectively participate in our nation’s clean energy transition.”