Smart-grid Power Market Solutions Provider Arcus Power Corp. Secures $11 Million In Series A Funding
Arcus Power Corp. announced Series A funding of $11 Million (CDN). This round of funding was led by Longbow Capital Inc. Arcus applies domain expertise to augment AI models for dynamic energy and emission cost management. Over the past five years, Arcus Power has successfully modelled Canada’s deregulated electricity markets, establishing an impressive track record of accuracy and an ability to widely communicate its insights through software to a diverse range of customers. Complemented with strong customer service, Arcus, along with our established business partners, is proud to support power consumers across North America.
“This investment enables Arcus to expand Canadian services and leverage our machine learned model software for growth in the US. Arcus is a customer focused company created to benefit industrial consumers by aligning their energy cost management needs with energy market conditions through technology,” says Dan Erhardt, Founder and CEO at Arcus Power. “We have long admired Longbow’s track record of investing in successful innovative technologies in the power and energy sectors and view the depth of their industry network as an accelerant to our business model. I am very excited to partner with them and further our innovative energy cost and emissions management software development.”
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Arthur Robinson, Managing Director of Longbow Capital, explained: “Longbow’s mission is to support companies that take an innovative approach to bringing energy to the world in the most efficient, cost effective and environmentally responsible manner. Arcus is providing a unique and competitive solution to an increasingly volatility and complex electricity market that offers both cost saving solutions and revenue enhancement to its customers. We are incredibly excited to partner with Dan and the entire Arcus team as they expand the Arcus platform into the US market and continue to build on the integrated foundation of solutions they are offering customers today.”
With the Worldwide shift towards electric and low-carbon power systems, Arcus is revolutionizing efficient and effective power management. Arcus’s predictive analytics SaaS supports customers in Power Generation, Oil & Gas Upstream/Midstream, Mining, Steel, Forestry, Cryptocurrency, Food & Beverage, and Municipalities to reduce operating costs, monetize cost centers, achieve environmental targets and improve grid efficiencies. Headquartered in Calgary, Canada’s energy capital, Arcus has created a technology with Global potential.
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