Gridco Systems

The firm's core business was developing and manufacturing advanced power electronics and management systems for electric power distribution grids. It targeted electric utilities as its primary clients, offering solutions to help them integrate renewable energy, manage peak capacity, enhance energy efficiency, and improve overall system reliability. The business model centered on selling this specialized hardware and accompanying software platforms directly to these utility companies. Gridco Systems successfully raised a total of $54.5 million in funding from investors including General Catalyst, North Bridge Venture Partners, Lux Capital, and RockPort Capital.

Gridco's flagship offering was the emPower Solution, an end-to-end platform that included hardware like the In-Line Power Regulator (IPR) and the Static VAR Compensator (SVC), along with a software suite for grid management and analytics. The IPR was a key product, designed as a series-connected, voltage-controlled power regulation device that could be pole- or pad-mounted. Unlike traditional mechanical devices, it used no moving parts, promising a 25-year lifespan with minimal maintenance. Its primary function was to provide precise, real-time voltage regulation on distribution lines, which was critical for stabilizing the grid amidst fluctuations caused by high penetration of solar PV. The system could operate autonomously or be integrated into a utility's existing SCADA/DMS systems, providing fine-grained control of power flow from the substation to the end-user.

Despite successful pilot programs with several utilities, Gridco Systems faced significant market challenges. The adoption rate for distribution grid-level power electronics by utilities was much slower than anticipated, preventing the company from achieving the necessary scale for sustainable growth. After exploring various strategic options throughout 2017 without success, Gridco Systems ceased operations on December 31, 2017, and began liquidating its assets.