PowerGEM announced it secured a strategic growth investment from General Atlantic through its BeyondNetZero fund and also completed the acquisition of Telos Energy. Existing investor TA Associates will continue supporting the company as it expands its platform focused on power grid reliability and market efficiency.
For more than 25 years, PowerGEM has provided advanced simulation software and technical services for the North American power industry. The company works with all U.S. power system operators along with utilities, power producers, energy developers, consultants, and traders. Its products are used for operational and long term planning decisions related to grid reliability, energy market analysis, and infrastructure expansion. The company has increasingly integrated AI into its platform to improve forecasting accuracy, scenario modeling, and risk analysis capabilities.
PowerGEM said the investment and acquisition come as the power sector faces increasing complexity driven by grid modernization, aging infrastructure, rising electricity demand, and accelerating interconnection activity. The company’s platform combines generation and transmission planning with market analysis tools intended to help customers bring new energy capacity online more efficiently while maintaining reliability.
With support from General Atlantic and TA Associates, PowerGEM plans to accelerate product integration efforts, expand AI enabled capabilities, grow its commercial reach, and pursue additional acquisitions. Since TA’s initial investment in 2024, the company has completed four acquisitions designed to broaden its expertise across the energy value chain.
Founded in 2019, Telos Energy specializes in complex power system analysis, integrated resource planning, and market forecasting. The company helps clients evaluate emerging technologies, market economics, and regulatory policy impacts related to power system planning and operations. Telos co-founders Matthew Richwine and Derek Stenclik will join PowerGEM’s leadership team following the acquisition.
Financial terms of the transactions were not disclosed.
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
