Ampacimon, a Grâce Hollogne, Belgium-based provider of grid monitoring and analytics solutions, raised $10.6M USD in Series C funding.
The round was led by Junction Growth Investors with participation from Korys, Noshaq, Creos, and Gesval.
The company intends to use the funds to accelerate its expansion in the U.S. and accelerate development of its solutions.
Led by Frederic Vassort, CEO, Ampacimon is a technology company offering Grid-Enhancing Technologies (GET) to transmission and distribution utilities. Through its proprietary measurement systems and advanced analytics, it allows grid operators to optimize the use of their assets and their maintenance, and prioritize investments. It offers data-driven solutions enabling grid operators to accelerate renewables integration and the energy transition.
With offices in Belgium, Spain and the USA, Ampacimon has a global presence and systems in operations with grid operators.
Customers include Pennsylvania Power and Light, BC Hydro, San Diego Gas & Electric, Arizona Public Service, Tepco, EdP, Hydro-Québec, Red Eléctrica, and SVK.
FinSMEs
17/10/2023
October 17, 2023 04:00 ET| Source: Ampacimon
Follow
Share
GRÂCE-HOLLOGNE, Belgium and ATLANTA, Oct. 17, 2023 (GLOBE NEWSWIRE) — Ampacimon, the leading provider of grid monitoring and analytics solutions that optimize the operation of the world’s critical energy infrastructure, today announces the conclusion of its Series C funding round, securing $10.6 million USD. The round is led by Junction Growth Investors and includes follow-on participation from longstanding investors Korys, Noshaq, Creos, and Gesval. Pieter-Jan Mermans, managing director at Junction Growth Investors, joins Ampacimon’s Board of Directors.
“Ampacimon has deployed the largest number of dynamic line rating systems (DLR) in the world, which has had a tremendous impact on grid transmission, capacity, and reliability for our utility partners,” said Frederic Vassort, CEO of Ampacimon. “These solutions are critical to grid modernization and to the broad implementation of renewables. With this capital, we will accelerate our expansion in the U.S. and accelerate further development of our solutions to meet these critical needs.”
Founded in 2010, Ampacimon is a pioneer in sensors and software solutions that optimize the performance and reliability of electrical transmission and distribution grids. Its patented technologies enable operators to enhance power transmission capacity by an average of 30%, reduce failures and safety incidents caused by aging assets, and improve grid reliability.
“There were more than 8,100 sustainable energy projects, representing 2,020 gigawatts of capacity that were awaiting permission to connect to U.S. electric grids at the end of 2022. Expanding our reach within the U.S. will give operators an opportunity to decrease this queue,” added Mr. Vassort.
The company’s consistently high double-digit annual growth since inception has resulted in global presence, with offices across Belgium, Spain, and the USA. Prominent industry leaders such as Pennsylvania Power and Light, BC Hydro, San Diego Gas & Electric, Arizona Public Service, Tepco, EdP, Hydro-Québec, Red Eléctrica, and SVK amongst others have long been loyal Ampacimon customers.
“We’re on a mission to accelerate the transition toward a lower emissions world through state-of-the-art grid optimization solutions. We couldn’t be happier about our collaboration with Junction Growth Investors, and our continued support from Korys, Creos, Noshaq and Gesval, all of whom will be instrumental as we help utilities achieve greater grid performance and reliability in a cleaner, more reliable energy future,” concluded Mr. Vassort.
Mr. Mermans commented: “We are delighted to join Ampacimon’s shareholders and Board of Directors to further support Ampacimon’s international growth. We were impressed with the positive feedback from existing transmission and distribution customers. Our team looks forward to putting decades of operational experience in energy tech, grid management and market regulation to work for the benefit of Ampacimon and its customers.”
About Ampacimon
Ampacimon is a technology company founded in Belgium and Spain in 2010, offering Grid-Enhancing Technologies (GET) to transmission and distribution utilities. Through its proprietary measurement systems and advanced analytics, Ampacimon allows grid operators to maximize the use of their assets, optimize their maintenance, and prioritize investments. It offers data-driven solutions enabling grid operators to accelerate renewables integration and the energy transition. With offices in Belgium, Spain and the USA, Ampacimon has a global presence and systems in operations with all major grid operators in the world. For more information about Ampacimon, please visit: www.ampacimon.com
About Junction Growth Investors
Junction Growth Investors is a 125m€ investment fund dedicated to the energy transition. The fund has a long-term investment horizon and is labeled art 9 under SFDR due to its focus on carbon emission reduction. It invests growth-equity in non-listed European scale-ups and SMEs with the aim to gain scale. The investment team is a combination of award-winning entrepreneurs and investment professionals with a proven track-record in internationally successful energy (-tech) businesses, incl. Lampiris, REstore (Cleantech deal of the year 2017), sonnen (Cleantech deal of the year 2019), tiko and tado°. For more information about Junction Growth Investors, please visit: www.junctiongrowthinvestors.com