Enverus Acquires Pearl Street Technologies to Address Renewable Energy Interconnection Challenges

Enverus, a renowned energy-dedicated SaaS company, has completed the acquisition of Pearl Street Technologies, a leading provider of automation solutions streamlining interconnection studies for transmission providers, utilities, and energy developers. The interconnection queue backlog, which is central to today's growing resource adequacy, renewable energy, and grid reliability challenges, currently holds 2.4 terawatts of proposed projects. By incorporating Pearl Street's solutions, Enverus aims to expedite interconnection and grid planning studies, enabling investors and power developers to navigate risks, enhance economic returns, and capitalize on opportunities within the evolving energy landscape.

Pearl Street Technologies, established in 2018 as a spin-out from Carnegie Mellon University, brings to Enverus their advanced automation products, SUGAR™ and Interconnect®, which have significantly reduced engineering analysis time and assisted in processing over 300 gigawatts of queued projects. Enverus, with more than 1,200 customers, has been driving substantial ROI for its clients through data-driven insights and technology.

The addition of Pearl Street Technologies further solidifies Enverus' position as a leading power and energy transition platform. Pearl Street Technologies, based in Pittsburgh, with backing from prominent venture capital firms, aims to expedite the transition to a decarbonized grid through their innovative software products, Interconnect™ and SUGAR™, which have been instrumental in modeling nearly 2000 queued renewable generation projects nationwide.