Ascend Analytics (a leading provider of energy transition analytics solutions) announced it has secured a strategic growth investment led by Rubicon Technology Partners. Rubicon was joined by climate investment firm Galvanize Climate Solutions and Silversmith Capital Partners.
This funding round will accelerate Ascend’s product innovation and expand its suite of analytics solutions, enhancing the company’s ability to serve energy market stakeholders navigating an increasingly complex power grid. Dr. Gary Dorris, who co-founded the company in 2002, will continue leading the company as CEO while also assuming the role of chairman.
Ascend’s products enable utilities, renewable developers, independent power producers, financial institutions, and other energy market stakeholders to develop, finance, and optimize energy assets in an increasingly complex energy market landscape. This year, utilities in the US have nearly doubled the projections for power generation by 2028 to accommodate growing demand – which was sparked by an uptick in manufacturing and an explosion of new data centers and other factors.
As more electricity is generated from renewable sources susceptible to weather-related interruptions, utility providers that can model volatility into their approach have a critical advantage. Ascend’s ability to provide energy analytics in a commercial context enables its customers to translate new and clean power sources into actionable insights and economic opportunities.
The company’s product suite includes BatterySIMM (recognized as the de facto standard for energy storage modeling and development), PowerSIMM (a resource selection and portfolio management solution), and SmartBidder (an energy storage bidding optimization platform). And the company’s existing customer base includes some of the largest utilities and renewables developers in North America and Europe.
KEY QUOTES:
“For multiple decades, Ascend’s mission has been to help its customers realize their energy transition objectives. Having now reached an inflection point in the transition, this partnership allows Ascend to grow at the speed and scale necessary to meet the moment. We are so proud of everything our team has accomplished, and although we are veterans in the sector, it feels like we are just getting started.”
– Dr. Gary Dorris, CEO and co-founder of Ascend
“From day one working with Gary and team, their unmatched expertise and thought leadership in an incredibly dynamic energy market were unmistakable. The energy market turns to Ascend for its most complex problems, given its highly differentiated suite of software and services. We couldn’t be more excited to partner with Ascend to continue innovating and advancing its products to meet customers’ evolving needs.”
– Alison Beyer, Principal at Rubicon Technology Partners
“Even before meeting Gary and his team, we understood that Ascend was unique, having established itself as the go-to provider for utility-scale storage software, intelligence, and valuation solutions. Ascend’s superior information and analytics capabilities are distinctly suited to support power market participants in navigating complex grid dynamics driven by escalating load growth, distributed generation, and higher penetration of renewables.”
– Saloni Multani, Co-Head of Innovation + Expansion at Galvanize Climate Solutions
“We back founders who know their markets so well that they find the gaps and seams to build big, important businesses where others didn’t see the possibility. We believe Gary is just that type of visionary founder and we are thrilled to be joining our friends at Rubicon and Galvanize in supporting him during the next phase of Ascend’s journey.”
– Todd MacLean, Managing Partner at Silversmith Capital Partners
