Building energy management and optimization technology company GridPoint announced that it has raised $45 million, with proceeds aimed at supporting the company’s international expansion plans.

Established in 2003, Virginia-based GridPoint provides energy management technology aimed at decarbonizing commercial buildings and driving grid modernization. The company’s energy management and optimization technology platform connects energy grids with the built environment and behind-the-meter distributed energy resources, leveraging data analytics, machine learning, and intelligent automation to deliver visibility into complex building operations, reduce energy costs, maximize decarbonization, and increase resiliency. The technology platform is deployed in more than 20,000 commercial buildings across multiple industries.

According to GridPoint, its solution helps to provide grid stability, addressing challenges facing global power grids, which are straining as demand for electricity accelerates, driven by the proliferation of data centers, the computing power required by AI and cloud services, and the ongoing adoption of intermittent renewable energy sources, and exacerbated by aging grid infrastructure and extreme weather events.

The financing was anchored by a $20 million investment from Marunouchi Innovation Partners (MIP), a climate tech fund sponsored by Mitsubishi Corporation.

Ichiro Miyoshi, CEO/CIO of MIP, said:

“MIP aims to help drive a carbon-neutral society and, as such, is investing in select global companies dedicated to decarbonization through technology. GridPoint represents an ideal investment opportunity for our fund as their energy solution, comprised of proprietary hardware, combined with a new, cutting-edge software platform, enables commercial companies to dramatically reduce energy usage, while benefitting from the additional control, asset and building insights that adds real value to their operations.”

Gridpoint added that the investment by MIP will open the door for international expansion into Japan and South Korea.

GridPoint Chairman Peter Corsell, said:

“The respective missions of Marunouchi and GridPoint are in perfect alignment. As data centers, AI investments, electrification and manufacturing investments all increase demand on the power grid, GridPoint will continue to deliver much-needed capacity to the grid. Moreover, the deep relationships that Marunouchi brings to the table will help GridPoint enter key international markets.”