PowerGEM announced a strategic growth investment from General Atlantic through its BeyondNetZero fund and also revealed its acquisition of Telos Energy as the company looks to expand its capabilities in power grid engineering, market analysis, and AI-enabled energy infrastructure solutions. Existing investor TA Associates will continue supporting the company as PowerGEM accelerates its efforts to address growing grid complexity and rising demand across the energy sector.
Founded more than 25 years ago, PowerGEM provides advanced simulation software and technical services to power system operators, utilities, energy developers, consultants, traders, and power producers across North America. The company said its products increasingly incorporate AI to improve forecasting accuracy, expand scenario and risk analysis, and streamline engineering decision making.
The investment and acquisition come as utilities and energy stakeholders face increasing pressure from aging infrastructure, rising electricity demand, grid modernization efforts, and accelerating interconnection activity. PowerGEM said its platform combines generation and transmission planning with market analysis to help customers make more informed operational and long-term investment decisions while maintaining reliability.
PowerGEM noted that the new capital and continued support from TA Associates will help the company accelerate product integration efforts, enhance AI-driven capabilities, expand commercial operations, and pursue additional strategic acquisitions.
Telos Energy becomes the latest addition to PowerGEM’s platform strategy. Founded in 2019, Telos specializes in complex power system analysis, integrated resource planning, and market forecasting, with a focus on helping customers evaluate emerging technologies, market economics, and regulatory policies affecting grid planning and operations. Telos co-founders Matthew Richwine and Derek Stenclik are joining PowerGEM’s leadership team following the acquisition.
Financial terms of the transactions were not disclosed. Lazard served as financial advisor to PowerGEM and TA Associates. Goodwin Procter LLP provided legal counsel to PowerGEM and TA Associates, while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to General Atlantic.
KEY QUOTES:
“The power sector is undergoing unprecedented transformation, and as PowerGEM enters its 26th year, we’re scaling to meet the moment. We’re excited to welcome General Atlantic as a new partner as we build a unified platform that integrates grid reliability and market economics to provide customers with the actionable insights they need to make high-stakes decisions with confidence. I’m incredibly proud of our team and the role we’ll play in helping to modernize the grid, accelerate the integration of new energy resources, and support a more reliable, resilient, and energy-efficient future.”
Joe DeMatteo, Chief Executive Officer, PowerGEM
“PowerGEM’s technology is deeply embedded across the U.S. energy ecosystem, and the company’s expertise in grid engineering and market operations has made it a trusted partner across the industry. We believe their simulation capabilities, technical advisory services, and strong customer relationships are central to the continued growth and modernization of the grid. We look forward to working closely with Joe, the PowerGEM team, and TA to deliver a differentiated platform for grid engineering and market analysis.”
Wilson Bowen, Managing Director, General Atlantic
“As the energy sector undergoes rapid transformation, we are proud to support PowerGEM as it continues to deliver products and services to help its customers navigate this generational transition. We are confident in PowerGEM’s vision and remain excited about its future. We look forward to collaborating with General Atlantic to accelerate PowerGEM’s impact.”
Charles Ha, Director, TA Associates
“Joining PowerGEM gives Telos a closer connection to the software tools that will drive the industry forward. Clients will benefit from the strength of PowerGEM’s software platform combined with our consulting expertise – together we can help them navigate the complexity of a rapidly evolving power grid.”
Matthew Richwine, Co-Founder, Telos Energy
“Clients will benefit from the strength of PowerGEM’s software platform combined with our consulting expertise – together we can help them navigate the complexity of a rapidly evolving power grid.”
Derek Stenclik, Co-Founder, Telos Energy
