Enbala Power Networks, a Vancouver, Canada-based provider of distributed energy resource management solutions, raised $12m in Series B venture capital financing.
The round was led by ABB’s venture capital unit, ABB Technology Ventures, with additional investors including National Grid, GE Ventures, Chrysalix Venture Capital and Obvious Ventures.
The company intends to use the funds to accelerate capabilities, scope and market presence.
Led by President and CEO Bud Vos, Enbala develops and deploys software that aggregates customer electricity demand, along with energy storage and renewable energy sources, to create a network of continuously optimized distributed energy sources. This network can then provide real-time grid services, such as renewable firming, energy optimization and voltage management, which typically are provided by large, centralized generators.