Why we invested in Corinex: Transforming the Power Grid with BPL Technology
We are proud to announce Adara’s 50th investment since its inception. Our newest portfolio company, Corinex, joins us through the Adara Ventures Energy Fund.
Corinex is a leader in Broadband over Power Line Communication (BPLC) technology. Trusted by major utility companies, Corinex has become the industry standard, providing advanced grid flexibility solutions. Adara Ventures participated in the $30 million funding round led by UK-based Energy Growth Momentum, alongside Suma Capital.
As low-carbon technology adoption rises, so does the strain on energy grids
Europe and North America’s energy grids are facing mounting challenges due to the rapid adoption of low-carbon technologies (LCTs). These include electric transportation, the electrification of heating systems, and the rise of decentralized energy generation and consumption.
These shifts are pushing existing distribution networks beyond their limits, as they were not designed to accommodate such rapid growth in demand and an increasing fluctuating behaviour.
A scalable and efficient solution like Corinex is key for meeting these challenges.
Corinex: Real-time intelligence on the edge of the grid
Corinex’s groundbreaking Broadband over Power Lines (BPL) technology transforms existing electrical wiring into a powerful, dual-purpose network capable of delivering both electricity and high-speed data. By combining energy and data transmission over a single infrastructure, Corinex offers a cost-effective solution that enables real flexibility for end users.
Corinex can process millions of messages per minute, enabling grid performance monitoring in real time, forecasts, and recommendations for network improvements. The accompanying software delivers actionable insights to enhance control over essential infrastructure, from charging stations to photovoltaic (PV) systems and heat pumps.
BPL also operates within localized networks, minimizing exposure to external cyber threats. Unlike wireless systems, BPL is highly resistant to radio frequency interference or jamming, making it a secure and reliable choice.
All of these capabilities help prioritize energy sources, balance consumption during peak periods, and safeguard the grid from overloads. With Corinex, grid constraints can be resolved and new business opportunities unlocked, paving the way for a more sustainable and resilient energy future.
Scaling broadband over power lines (BPL) solutions globally
Corinex was founded by Dr. Peter Sobotka, a seasoned entrepreneur with a deep background in energy innovation and co-author of numerous international patents. He is an active participant in Canada’s National Electricity Roundtable and involved in the European Smart Network for Energy Transition.
This new funding will help fuel Corinex’s expansion in major European electricity markets, including the UK, Germany, and Spain, where leading grid operators are implementing new use cases for the low-voltage grid necessary for mass decarbonization.
The Adara view: Investing in the leader of next-generation grid technology
Building on Adara Ventures’ successful past investment in ADD, a fabless semiconductor company specializing in Power Line Communication (PLC) chipsets for smart energy, we see immense potential in Corinex. Armed with breakthrough technology and a strategic vision, we believe the company is set to redefine how the world powers its grid and we are proud to support their global growth.
