Equilibrium Energy, a leader in energy portfolio management capabilities and services for the power industry, announced the closing of a $28 million Series B2 funding round, as and the launch of its flagship software platform product, EQ Mission Control. The funding, which was led by GS Energy, with participation from NRG Energy and other new and existing investors, accelerates Equilibrium’s mission to help power companies, independent power producers, and corporations unlock the full potential within their energy portfolios.
Societal energy needs are evolving and energy portfolio management teams are looking for ways to move beyond infrequent portfolio balancing and towards real-time and dynamic co-optimization of enterprise profits and risk; from relying on large teams to manually compensate for disparate data and software systems to embracing an AI-based transformation that propels their businesses forward. And Equilibrium’s new flagship platform product, EQ Mission Control, helps these teams empower their experts and tap into their proprietary data, strategies, and operations, enabling an unprecedented level of strategic capabilities.
The EQ Mission Control platform unifies the fragmented data and systems landscape for power companies and independent producers. And by utilizing its unified enterprise data model and code frameworks, EQ Mission Control maximizes profits while minimizing risks in its customers’ largest opportunity: enterprise portfolio management.
Equilibrium’s portfolio management capabilities are purpose-built for large, diverse, and dynamic energy portfolios. And Equilibrium helps its customers leverage artificial intelligence (AI) as a force multiplier via AI copilots embedded in every corner of its EQ Mission Control platform. The platform’s augmented intelligence capabilities provide an unprecedented boost to users’ synthesis, creativity, and speed. EQ Mission Control delivers enterprise-wide real-time insights, granular forecasting, dynamic decision-making support, and AI copilots trained on proprietary data and code.
EQ Mission Control is actively being applied for various power portfolio management assets, portfolios, and use cases, including battery energy storage and renewables optimization. And Equilibrium utilizes its EQ Mission Control platform to optimize these asset fleets based on dynamic market conditions, fully maximizing their performance and profitability as they supply and balance the electricity grid.
With this Series B2 funding, Equilibrium will be expanding its commercial offerings, deepening its market-leading EQ Mission Control platform, and scaling its reach to serve more customers. And the company is doubling down on its mission to deliver unlimited potential to energy portfolio management capabilities in the power industry.
KEY QUOTES:
“Our new strategic investors bring deep power industry expertise, expansive market reach, commercial partnerships, and a shared ambition to reshape how power companies and corporations navigate the energy transition. This funding round will fuel our continued product leadership and investment, accelerate our commercial expansion, and strengthen our ability to deliver unprecedented innovation potential and outsized value to our customers.”
– Ryan Hanley, Founder and CEO of Equilibrium Energy
“Equilibrium is redefining how energy portfolios are assembled and managed, and we’re excited to build alongside them in this investment and strategic partnership. Their capabilities, platform, technology, and vision are critical enablers of our goal to optimize energy systems for a more sustainable and carbon-neutral society.”
– Yongsoo Huh, CEO of GS Energy
“We see Equilibrium as a key partner in enhancing our energy portfolio optimization capabilities. Their platform provides next-generation augmented intelligence capabilities that can upend how portfolios are managed, helping NRG and others unlock outsized potential in our energy portfolios.”
“We are always looking to support innovative technologies that strengthen the energy landscape. Equilibrium’s AI-driven platform offers a differentiated approach to managing volatility and balancing risk, and we are excited to invest in their vision and collaborate with their team.”
– Robert J. Gaudette, Executive Vice President, President of NRG Business and Wholesale Operations
