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The investment furthers Ascend’s growth as a leading provider of energy transition analytics solutions and comes at a time when advances in AI and manufacturing are pushing America’s aging energy grid to the brink.
Boulder, Colorado, March 21, 2024–(BUSINESS WIRE)–Ascend Analytics (“Ascend”), a leading provider of energy transition analytics solutions, is a leading provider of energy transition analytics solutions, a private equity firm with exclusive focus, Rubicon Technology Partners ( Secured strategic growth investment led by Rubicon. About investing in and growing software companies. Rubicon is joined by Galvanize Climate Solutions, a climate investment firm that invests in companies and solutions driving the energy transition, and Silversmith Capital Partners, a technology-focused growth firm.
This investment will accelerate Ascend’s product innovation and expansion of its suite of analytical solutions, strengthening the company’s ability to serve energy market participants as they navigate increasingly complex power grids. Ascend CEO Gary Doris, Ph.D., who co-founded the company in 2002, will continue to lead the company as CEO and assume the role of chairman.
Ascend’s products help utilities, renewable energy developers, independent power producers, financial institutions, corporations, and other energy market participants develop, finance, and develop energy assets in an increasingly complex energy market environment. We will help you optimize it. This year, U.S. power companies nearly doubled their power generation projections through 2028, to meet growing demand from, among other things, increased manufacturing and an explosion of new data centers.
Utilities that can model volatility into their approach are at a huge advantage, as more electricity is generated from renewable energy sources that are more susceptible to weather disruptions. Ascend’s ability to provide energy analysis in a commercial context allows customers to turn new, clean power sources into actionable insights and economic opportunities.
The company’s product suite includes BatterySIMM, recognized as the de facto standard for energy storage modeling and development, PowerSIMM, a resource selection and portfolio management solution, and SmartBidder, an energy storage bid optimization platform. The company’s existing customer base includes major electric utilities and renewable energy developers in North America and Europe.
“For decades, Ascend’s mission has been to help customers realize their energy transition goals,” said Dr. Gary Doris, CEO and co-founder of Ascend. “We are now at an inflection point in our transition, and this partnership will allow Ascend to grow with the speed and scale we need to respond to that moment. We look forward to everything our team has accomplished. I’m very proud of it, and even though I’m a veteran in this field, it feels like I’m just getting started.”
“From day one working with Gary and the team, their unparalleled expertise and thought leadership in an incredibly dynamic energy market has been undeniable,” said Alison Beyer, principal at Rubicon Technology Partners. There was,” he said. “The energy market relies on Ascend, with its highly differentiated suite of software and services, to solve its most complex problems. We couldn’t be more excited to continue innovating and evolving our products to meet our customers’ needs.”
“Even before we met Gary and his team, we knew Ascend was unique in its position as the go-to provider of utility-scale storage software, intelligence and assessment solutions. said Saloni Multani, Co-Head of Innovation + Expansion. At Galvanize Climate Solutions. “Ascend’s superior information and analytics capabilities are clearly suited to help power market participants deal with the complex grid dynamics caused by load growth, distributed generation, and increased penetration of renewable energy. Masu.”
“We support founders who know their market well and find the gaps and seams to build big, important businesses where others didn’t see the potential. We believe Gary is just such a visionary founder and are excited to have him join our company.” Our friends at Rubicon and Galvanize look forward to recruiting him for the next stage of his Ascend journey. They supported us,” said Todd McLean, managing partner at Silversmith Capital Partners.
About Ascend Analytics
Ascend Analytics, an innovative leader at the forefront of the energy transition, provides advanced software and consulting services that capture the real-time dynamics of evolving energy markets. The company provides customers with optimized and comprehensive decision-making analytics that spans from long-term planning to real-time operations in the power supply industry. The company is based in Boulder, Colorado.
For more information about Ascend, please visit www.ascendanalytics.com.
About Rubicon Technology Partners
Rubicon Technology Partners invests in enterprise software companies with proven products and talented management teams to help businesses grow and expand. Rubicon enables companies to adapt to the changing requirements of their business as they grow and expand using a unique set of processes, best practices, and portfolio-wide engagement models. Rubicon manages more than $3.8 billion in assets and is headquartered in Boulder, Colorado, with additional offices in New Haven, Connecticut, and Palo Alto, California. Rubicon’s experience, collaborative approach, capital and culture make it an attractive partner for software companies looking to accelerate the growth, profitability and strategic value of their platforms.
For more information about Rubicon, please visit www.rubicontp.com.
About Galvanize Climate Solutions
Galvanize Climate Solutions (“Galvanize”) is a climate-focused investment firm that invests in companies and solutions that advance the energy transition. Founded in 2021 by Katie Hall and Tom Steyer, Galvanize invests across asset classes including venture capital, growth stocks, public equity, and real estate. The company’s investment strategy is supported by in-house policy, science and technology and impact measurement expertise, with the aim of driving significant climate impact and creating long-term value.
For more information about Galvanize, please visit www.galvanizeclimate.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $3.3 billion in capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Apryse, DistroKid, impact.com, Iodine Software, LifeStance Health, Onbe, and Webflow.
For more information about Silversmith, including a complete list of portfolio investments, visit www.silversmith.com or follow the company on LinkedIn.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240321484889/en/
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