Belgium-based Ampacimon, a provider of grid monitoring solutions to optimise Transmission & Distribution assets, announced on Monday that it has secured €10M in a Series C round of funding.
New investor Junction Growth Investors has joined the round, alongside continuing support from existing investors, such as Korys, Noshaq, Creos, and Gesval.
As a part of this funding round, Junction Growth Investors has become a member of Ampacimon’s Board of Directors.
The company will use the funds to accelerate innovation in the T&D power sector.
Frédéric Vassort, CEO of Ampacimon, enthusiastically states, “The proceeds from this funding round will be used to accelerate Ampacimon’s expansion. The energy transition brings monumental challenges, and grid operators are in dire need of innovative solutions. In North America, our AAR and DLR leadership positions us to help customers navigate the formidable ‘renewables connection queue’ challenge. To strengthen Ampacimon in the US, the former Chairman of the US regulator FERC, Neil Chatterjee, will join the Board as an independent director.”
Ampacimon: Offers grid-enhancing solutions
Founded in 2010, Ampacimon offers grid-enhancing solutions to Transmission and Distribution utilities through its proprietary measurement systems and advanced analytics.
The company’s platform allows grid operators to maximise the use of their assets, optimise their maintenance, and prioritise investments.
The company’s solutions, encompassing Dynamic Line Rating (DLR), Partial Discharge Monitoring, and Fault Detection, enable electricity grids to enhance their power transmission capacity by an average of 30 per cent.
Simultaneously, they strengthen operational reliability by enabling early detection, diagnosis, and pinpointing of potential failures.
The Belgian company’s technology finds direct applications in reducing congestion costs (€5M annually in Germany alone) and the renewables “connection queue” (1500 GW of renewable projects waiting to be connected, for lack of grid capacity in Europe and the US).
It offers data-driven solutions enabling grid operators to accelerate renewables integration and the energy transition world.
Prominent industry leaders such as RTE, PPL, Tepco, EdP, Hydro-Québec, Red Eléctrica, and SVK have long been Ampacimon customers.
The investor
Junction Growth Investors is a €125M investment fund dedicated to the energy transition.
The fund has a long-term investment horizon and is labelled Art 9 under SFDR due to its focus on carbon emission reduction.
It invests growth equity in non-listed European scale-ups and SMEs to gain scale.
Pieter-Jan Mermans, managing director at Junction Growth Investors, says, “We are delighted to join Ampacimon’s shareholders and Board of Directors to support Ampacimon’s international growth further. We were impressed with the positive feedback from existing transmission & 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 clients.”
Read the orginal article: https://siliconcanals.com/news/startups/ampacimon-bags-10m/
