GridPoint Raises $45M in Strategic Funding as it Plans International Expansion

GridPoint, a provider of energy management technology that decarbonizes commercial buildings and unlocks excess grid capacity, announced the completion of $45M in investment, anchored by Marunouchi Innovation Partners (MIP), a climate tech fund sponsored by Mitsubishi Corporation. The $20M investment by MIP will accelerate GridPoint’s growth and open the door for international expansion into Japan and South Korea.

Global power grids are straining under increasing pressure as the demand for electricity continues to accelerate due to the proliferation of data centers, the computing power required by AI and cloud services, and the onging adoption of intermittent renewable energy sources. Aging grid infrastructure and extreme weather events only exacerbate this growing problem. The inability of today’s grid to meet demand is leading to higher power prices and decreasing reliability which impacts all customers, especially commercial enterprises. By enabling dynamic load flexibility and leveraging an intelligent energy network of buildings to play an active role in grid stability, GridPoint uniquely serves both businesses and utilities with one platform that drives down energy costs while providing much-needed capacity to the grid.

“MIP aims to help drive a carbon-neutral society and, as such, is investing in select global companies dedicated to decarbonization through technology. GridPoint represents an ideal investment opportunity for our fund as their energy solution, comprised of proprietary hardware, combined with a new, cutting-edge software platform, enables commercial companies to dramatically reduce energy usage, while benefitting from the additional control, asset and building insights that adds real value to their operations,” says Ichiro Miyoshi, CEO/CIO of MIP.

“As energy costs continue to rise, due to increasing demands on the grid, efficient Building Energy Management Systems (BEMS) will become more critical than ever,” says Miyoshi. “We are pleased to lend our financial support to help support the growth of GridPoint and accelerate their immediate impact on the North American market and ultimately globally.”

GridPoint Chairman, Peter Corsell, said: “The respective missions of Marunouchi and GridPoint are in perfect alignment. As data centers, AI investments, electrification and manufacturing investments all increase demand on the power grid, GridPoint will continue to deliver much-needed capacity to the grid. Moreover, the deep relationships that Marunouchi brings to the table will help GridPoint enter key international markets.”

GridPoint’s other institutional investors include Goldman Sachs, I Squared Capital, Shell Ventures, TOMS Capital, Fortress Investment Group, Olympia Group, and QVT Financial.

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