CLIFTON PARK, NY — PowerGEM, a provider of simulation modeling software and technical services for the electric power industry, has received an undisclosed strategic growth investment from private equity firm TA Associates (TA).
Founded in 2000 and headquartered in Clifton Park, NY, PowerGEM’s power systems transmission reliability & market simulation software products serve over 200 North American power systems stakeholders. The Company’s software is utilized by the nation’s top grid operators, including many U.S. ISOs and electric utilities, generation/transmission developers & engineering firms to assess electric transmission grid reliability, as well as the technical & economic impacts of transmission congestion in competitive U.S. electricity markets.
Electric power industry stakeholders increasingly rely on PowerGEM’s software for simulations, insights, analyses & related technical consulting to optimize decision-making and foster efficient power markets. As the power grid becomes increasingly complex with the shift to renewable generation and the need to maintain reliable performance, this partnership with TA will allow PowerGEM to continue serving its growing client base, accelerate the release of new offerings, and execute high-growth initiatives.
“In TA, we found a partner who understands PowerGEM’s vision and our commitment to supporting the rapidly evolving needs of the North American power grid. We appreciate the continued support of our clients as we enter this next phase of growth,” said Boris Gisin, Co-Founder and Chief Science Officer of PowerGEM. “TA offers the experience, broad network and value-add capabilities we need as we aim to grow our suite of software and services offerings to further expand our market reach. We are very excited about this partnership and thrilled for the journey ahead with TA,” added Manos Obessis, Co-Founder and Chief Business Officer of PowerGEM.
“We are honored that the PowerGEM team chose TA as the Company’s first institutional investor,” said Charles Ha, Principal at TA. “PowerGEM has a proven track record of delivering value for its clients, and we see this as an opportunity to further scale the Company’s impact. We look forward to partnering closely with Boris, Manos, and the entire team to execute on priority growth opportunities.”
“TA has a long history of partnering with founder-owned companies and decades of sub-sector expertise in electric utility and simulation modeling software, such as our recent investment in Technosylva,” said Ashu Agrawal, Managing Director at TA. “We are excited by this opportunity to support PowerGEM’s growth.”
