Recurve, a Mill Valley, CA-based open-source platform that enables planning, procurement, and demand flexibility for virtual power plants, announced that it had raised $18 million in Series B funding.
Backed by new investors in the round includes Calpine Energy Solutions, Quantum Energy Partners, and Toshiba America Energy Systems, with additional participation from existing investor Energy Foundry.
Recurve will use the investment to accelerate the transition to clean energy by reducing stress on the grid during periods of high demand.
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.
FLEXmarket provides market access to new technologies and innovative business models by paying for performance based on how users reshape or reduce load during high-demand periods when the grid is most at risk of an energy shortfall.
Company: Recurve Analytics, Inc.
Raised: $18.0M
Round: Series B
Funding Month: Aug 2022
Lead Investors: Calpine Energy Solutions, Quantum Energy Partners, and Toshiba America Energy Systems
Additional Investors: Energy Foundry
Company Website: https://www.recurve.com/
Software Category: open-source SaaS platform
About the Company: Recurve's open-source platform and revenue-grade data create demand flexibility markets that enable virtual power plants, giving utilities and aggregators the confidence, they need to treat distributed energy resources as grid assets. Its mission is to accelerate the transition to a clean energy economy, Recurve integrates behind-the-meter demand flexibility resources into the emerging carbon-free energy grid, providing companies with the real-time transparency needed to revolutionize the way energy efficiency is measured, deployed, and procured. By paying for actual hourly metered performance, Recurve's market model dramatically reduces red tape, makes flexibility more lucrative for aggregators, and opens the door to a wide range of technologies and business models to better serve customers. Recurve is accessible across the United States and growing globally.
Source: https://www.recurve.com/blog/energy-industry-leaders-back-recurves-virtual-power-plant-platform-with-18m-series-b-investment