Smart Wires, a provider of grid-enhancing technologies (GETs), has secured $65 million in growth financing to scale operations and meet the soaring demand for electricity, driven by increasing grid capacity requirements, the expansion of data centers, the rise of artificial intelligence (AI), and the need for cost-efficient solutions like SmartValve.

The funding, backed by BP Energy Partners and Keystone Group, will help accelerate the company’s expansion amid rising power consumption from data centers and the rapid adoption of artificial intelligence (AI).

“The urgent need for solutions that create more energy capacity has never been clearer, and every day, we see validation of the transformative work our team is doing through real gigawatts unlocked,” said Joanna Lohkamp, CEO of Smart Wires.

“With this additional funding—and our strong partnership with BP Energy Partners and Keystone Group—we’ll be able to accelerate our work with customers worldwide and drive further technological innovation,” he added.

Smart Wire Transforming Energy Grids with SmartValve

Smart Wires’ flagship SmartValve advanced power flow control (APFC) device allows utilities to manage power distribution efficiently. This technology enables electric grids to handle increased loads by unlocking additional grid capacity without costly infrastructure upgrades. Already, Smart Wires has helped utilities gain nearly 4 GW of firm capacity, equivalent to powering 2.5 million homes.

“Smart Wires’ solutions increase existing grid capacity and reliability to address growing energy needs. We believe the company will be a critical player in the global energy transition, as its solutions offer the fastest way to tackle increasing electricity demand. This is why the company is seeing such strong traction in the market,” said Ramon Betolaza, managing director of BP Energy Partners.

SmartValve’s adaptability allows it to be deployed, adjusted, or relocated to accommodate shifting electricity demands and integrate new power sources. This innovation ensures a cost-effective and sustainable approach to tackling growing energy needs.

Expanding Global Reach

With its headquarters in Durham, North Carolina, Smart Wires operates across four continents, collaborating with utilities worldwide. The company has deployed hundreds of power flow control devices across the Americas, Europe, and the APAC region.

Recent projects include partnerships with Central Hudson Gas & Electric, National Grid Electricity Transmission, and ISA TRANSELCA. Upcoming initiatives involve Southern Company, Georgia Tech, Avista Utilities, and Idaho Power.

The electricity demand is projected to skyrocket. According to Goldman Sachs Research, power consumption by data centers alone will increase by 160 percent by 2030. With the latest funding, Smart Wires plans to scale commercial operations in 2025 and beyond, providing cost-efficient solutions to meet this demand while supporting the global shift toward clean energy.

Pioneering a Sustainable Energy Future

Led by CEO Joanna Lohkamp, Smart Wires continues to drive innovation in energy distribution. Its grid-enhancing technologies (GETs) empower utilities to create a more flexible, reliable, and affordable grid while reducing consumer costs. Smart Wires is shaping a sustainable and resilient energy future by unlocking additional capacity and facilitating the integration of renewable energy.

“With the global energy landscape undergoing rapid transformation, now is the time to capitalize on rising market demand. Smart Wires has the most impactful solutions and the best team to seize this opportunity and drive substantial growth in the coming years. The company’s solutions, which are not dependent on grid circumstances or weather, ensure that utilities have the ultimate flexibility to reliably address congestion issues at any time,” said Christopher Bass, principal of Keystone Group.

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