Recurve Raises $18M in Series B Funding

Recurve, a Mill Valley, CA-based open-source platform that enables planning, procurement, and demand flexibility for virtual power plants, raised $18M in Series B funding.

New investors in the round include Calpine Energy Solutions, Quantum Innovation Fund, and Toshiba Energy Systems & Solutions, with additional participation from existing investor Energy Foundry.

The company plans to use the funds in order to accelerate the transition from dirty energy, reducing grid stress during times of high demand.

Recurve, headed by Matt Golden, CEO, provides an open-source platform that generates revenue-grade data. It creates demand flexibility market opportunities, enabling virtual power plant, which gives utilities and other aggregators the ability to treat distributed energy resources in the same way they would grid assets. Recurve integrates behind the meter demand flexibility resources into an emerging carbon-free electricity grid. This provides companies with real-time transparency that will revolutionize how energy efficiency is measured and deployed. Recurve is accessible across the United States and growing globally.                                        

In partnership with MCE, Recurve created the first FLEXmarket to connect solution providers (otherwise known as “aggregators”) to markets that pay for the grid value of their projects. In July 2022, Recurve and Pacific Gas and Electric Company (“PG&E”), California’s largest utility, launched PG&E’s Market Access program.

Designed to reduce demand at peak times, FLEXmarket helps mitigate summer blackouts, like the rotating outages some Californians experienced during Summer 2020. FLEXmarket offers market access to innovative technologies and business models. Users pay for performance based upon how they shift or reduce load during high demand periods when the grid is most vulnerable to an energy shortfall.

Recurve has been working to optimize demand flexibility technology by working in the United States and internationally to use newfound telemetry from smart-meter investments.

FinSMEs

30/08/2022

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