Adara Ventures has invested $30 million in Corinex, an innovative leader in Broadband over Power Line Communication technology, to enhance grid flexibility amid growing demands driven by low-carbon technology adoption.
Information on the Target
Corinex stands at the forefront of Broadband over Power Line Communication (BPLC) technology, establishing itself as a trusted provider for major utility companies. The company has garnered a reputation for offering advanced solutions that enhance grid flexibility, making it an integral player in the energy sector. Adara Ventures’ latest investment marks a significant milestone as the 50th addition to its portfolio, emphasizing the firm’s commitment to supporting innovative technologies in the energy domain.
Recently, Corinex secured $30 million in a funding round led by UK-based Energy Growth Momentum, with participation from Suma Capital and Adara Ventures. This influx of capital will fuel Corinex’s growth trajectory, particularly in adopting low-carbon technologies aimed at addressing the evolving demands of energy grids.
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Industry Overview
The energy sector in Europe and North America is grappling with significant challenges, primarily due to the accelerating adoption of low-carbon technologies (LCTs). These include advancements in electric tr
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Disclosed details
Transaction Size: $30M