Constellation Energy

Constellation Energy is a prominent supplier of energy products and services, catering to both wholesale and retail electric and natural gas customers. The company operates a diversified fleet of generating units across the United States and Canada, with a total generating capacity of approximately 9,000 megawatts. It is actively involved in the development of new nuclear plants and emphasizes the production of carbon-free energy. Constellation Energy provides a range of solutions for residential and commercial customers, including home services, energy efficiency upgrades, and HVAC systems. Its regulated utility, Baltimore Gas and Electric Company, serves Central Maryland, delivering electricity and natural gas. Additionally, the company has a venture capital arm, Constellation Technology Ventures, which invests in innovative energy technologies and business models to foster growth within the sector.

Nate Bender

Principal, Investments

Daniel Eggers

Executive Vice President and CFO

Bryan Hanson

Executive Vice President and Chief Generation Officer

Shounok Sinha

Managing Director, Investments

Tom Wasserman

Managing Director

Past deals in Electric Grid

Bidgely

Venture Round in 2021
Bidgely, Inc. is a technology company specializing in energy disaggregation solutions for utility providers serving residential customers globally. Founded in 2011 and headquartered in Mountain View, California, with an additional office in Bengaluru, India, Bidgely offers a cloud-based platform called HomeBeat that provides detailed appliance-level energy consumption data without the need for plug-level monitors. Its UtilityAI Platform leverages machine learning algorithms to analyze energy usage patterns, delivering insights that enhance customer engagement and promote energy efficiency. By itemizing energy data to the individual appliance level, Bidgely aims to transform how utilities interact with their customers and help households save energy on a large scale.

LevelTen Energy

Series C in 2021
LevelTen Energy, Inc. operates a renewable energy transaction marketplace that links corporate and industrial power buyers with power purchase agreements (PPAs) from utility-scale wind, solar, and storage projects. Founded in 2016 and based in Seattle, Washington, the company provides a technology-driven platform that enables a diverse range of customers to access renewable energy solutions. By aggregating buyers and sellers, LevelTen allows smaller corporate and industrial customers to engage with the same projects and terms typically available to larger energy purchasers. This innovative approach simplifies the procurement process, helping customers achieve their sustainability goals while stabilizing energy costs and eliminating the complexities of traditional request for proposal (RFP) processes.

PFMG Solar

Acquisition in 2018
PFMG Solar, LLC specializes in the design, development, financing, construction, operation, and maintenance of solar energy systems for a diverse range of clients, including schools, businesses, government entities, and public agencies in Southern California and Arizona. Founded in 2009 and based in Huntington Beach, California, the company provides comprehensive services such as project design, installation, energy engineering, site evaluation, project management, and operational management. PFMG Solar is recognized for delivering cost-effective, renewable solar energy and storage solutions, positioning itself as a leader in the solar industry. The company, previously known as PsomasFMG, LLC, rebranded in June 2015 and operates as a subsidiary of Constellation NewEnergy, Inc.

Bidgely

Series C in 2018
Bidgely, Inc. is a technology company specializing in energy disaggregation solutions for utility providers serving residential customers globally. Founded in 2011 and headquartered in Mountain View, California, with an additional office in Bengaluru, India, Bidgely offers a cloud-based platform called HomeBeat that provides detailed appliance-level energy consumption data without the need for plug-level monitors. Its UtilityAI Platform leverages machine learning algorithms to analyze energy usage patterns, delivering insights that enhance customer engagement and promote energy efficiency. By itemizing energy data to the individual appliance level, Bidgely aims to transform how utilities interact with their customers and help households save energy on a large scale.

XL Fleet

Series D in 2017
XL Fleet is a provider of electrified powertrain solutions for commercial fleet vehicles. The company provides real-time data monitoring and analytics and will expand its “Electrification-as-a Service” solution, which includes power management, charging infrastructure, and onsite power and storage offerings. XL has developed a flexible proprietary electrification powertrain platform that transforms traditional fossil fuel-powered fleet vehicles into hybrid and plug-in hybrid electric vehicles as they are manufactured.

Retail Electricity and Natural Gas - ConEdison

Acquisition in 2016
Retail Electricity and Natural Gas - ConEdison provides renewable energy sustainability services, cost-effective energy efficiency solutions, and energy performance contracting.

ChargePoint

Series F in 2016
ChargePoint, Inc. operates a comprehensive network of electric vehicle charging stations, primarily based in California, with additional offices in Arizona, Germany, India, the Netherlands, and the United Kingdom. Founded in 2007 and originally named Coulomb Technologies, the company rebranded to ChargePoint in December 2012. It is recognized as a leader in the electric vehicle charging sector, providing public charging stations and consumer subscription plans. ChargePoint also offers utility grid management technology to assist electric utility companies in balancing demand on the grid. Through its extensive network, the company aims to increase accessibility to electric vehicle charging and support the growing adoption of electric mobility.

PosiGen

Series B in 2016
PosiGen CT, LLC sells and leases solar power systems, solar hot water systems, and energy efficiency upgrade solutions for residential and commercial users in Louisiana, New York, Connecticut, and Florida. It offers solar panel systems for heating, cooling, and illuminating homes and offices. The company also provides solar energy; energy efficiency audit services; and assess and permit, panel installation, and inspection services. The company was founded in 2011 and is based in Jefferson, Louisiana with additional offices in New York and Connecticut.

Bidgely

Series B in 2015
Bidgely, Inc. is a technology company specializing in energy disaggregation solutions for utility providers serving residential customers globally. Founded in 2011 and headquartered in Mountain View, California, with an additional office in Bengaluru, India, Bidgely offers a cloud-based platform called HomeBeat that provides detailed appliance-level energy consumption data without the need for plug-level monitors. Its UtilityAI Platform leverages machine learning algorithms to analyze energy usage patterns, delivering insights that enhance customer engagement and promote energy efficiency. By itemizing energy data to the individual appliance level, Bidgely aims to transform how utilities interact with their customers and help households save energy on a large scale.

Stem

Series C in 2015
Stem, Inc. specializes in energy storage solutions and software designed to help businesses manage their energy costs effectively. Founded in 2009 and based in Millbrae, California, the company offers a software platform called Athena, which leverages big data and machine learning to optimize energy usage. Stem's services include a subscription model that provides automated savings, risk protection, and solar energy storage solutions, all without requiring significant operational changes from clients. The company also implements distributed battery systems in commercial and industrial facilities, analyzing electricity usage patterns to protect businesses from excessive costs. Through its innovative approach, Stem aims to enhance energy efficiency while contributing positively to the energy grid.

Stem

Series B in 2015
Stem, Inc. specializes in energy storage solutions and software designed to help businesses manage their energy costs effectively. Founded in 2009 and based in Millbrae, California, the company offers a software platform called Athena, which leverages big data and machine learning to optimize energy usage. Stem's services include a subscription model that provides automated savings, risk protection, and solar energy storage solutions, all without requiring significant operational changes from clients. The company also implements distributed battery systems in commercial and industrial facilities, analyzing electricity usage patterns to protect businesses from excessive costs. Through its innovative approach, Stem aims to enhance energy efficiency while contributing positively to the energy grid.

Aquion Energy

Series E in 2014
Aquion Energy is fundamentally­­ changing the economics of power generation, transmission and distribution by developing and commercializing cost-effective energy storage solutions that are safe, reliable, and sustainable from nontoxic components as simple as saltwater. Based on the research of Carnegie Mellon University Professor Jay Whitacre, Aquion's proprietary Aqueous Hybrid Ion (AHI™) battery overcomes the pitfalls of conventional energy storage technologies. AHI systems enhance the electrical grid by providing flexible, emissions-free capacity that optimizes existing generation assets and enables broad adoption of renewable energy technologies.

DemandQ

Series A in 2014
DemandQ, operating under eCurv, Inc., specializes in optimizing electricity distribution through its innovative Queued Power Access system. This cloud-based platform effectively reduces peak demand charges for businesses by managing the connection times of various electrical loads, such as HVAC systems, refrigeration units, electric heating, pumps, motors, and charging stations for electric vehicles. Founded in 2011 and headquartered in Cambridge, Massachusetts, with an additional office in Newton, the company employs a digital queuing method that is seamless for users, ensuring that energy access is regulated for only a few seconds. This approach results in significant cost savings without disrupting business operations, making it applicable across a wide range of industries reliant on efficient energy use.

Powerhouse Dynamics

Series B in 2014
PowerHouse Dynamics, Inc. develops enterprise energy and asset management systems for portfolios of small commercial facilities. It offers SiteSage, an enterprise energy and asset management platform that centralizes control, analysis, and management of energy-consuming equipment. The company’s platform also provides modules for remote equipment and HVAC control, food safety, and utility bill management; and offers rebate management, deployment management, and support and advisory services. It serves restaurants, convenience stores, retail stores, homes, and other commercial facilities. The company was founded in 2008 and is based in Newton, Massachusetts. As of April 1, 2019, PowerHouse Dynamics, Inc. operates as a subsidiary of The Middleby Corporation.

ChargePoint

Series E in 2014
ChargePoint, Inc. operates a comprehensive network of electric vehicle charging stations, primarily based in California, with additional offices in Arizona, Germany, India, the Netherlands, and the United Kingdom. Founded in 2007 and originally named Coulomb Technologies, the company rebranded to ChargePoint in December 2012. It is recognized as a leader in the electric vehicle charging sector, providing public charging stations and consumer subscription plans. ChargePoint also offers utility grid management technology to assist electric utility companies in balancing demand on the grid. Through its extensive network, the company aims to increase accessibility to electric vehicle charging and support the growing adoption of electric mobility.

SolarBridge Technologies

Series E in 2014
SolarBridge Technologies, originally founded as SmartSpark Energy Systems in 2004, specializes in power electronics technologies developed at the University of Illinois. In 2009, the company shifted its focus to the solar industry, offering advanced microinverter and monitoring solutions. With major research and development facilities in Champaign, Illinois, and a corporate headquarters in Austin, Texas, SolarBridge is led by experienced professionals from both industry and academia. The company's mission centers on reducing the Levelized Cost of Energy (LCOE) for solar installations by enhancing reliability, boosting energy production, and streamlining installation processes.

Direct Energy Solar

Series B in 2013
Direct Energy Solar, formerly known as Astrum Solar, is a prominent full-service solar provider operating primarily on the East Coast of the United States. The company specializes in facilitating the transition to solar energy for both residential and commercial customers, offering a comprehensive range of services that include system design, installation, and maintenance. By enabling homeowners to adopt solar power with little or no upfront costs, Direct Energy Solar allows them to reduce their electricity expenses while contributing to environmental sustainability. The firm serves a diverse market across several states, including Connecticut, Maryland, New Jersey, and Virginia, among others. With a focus on delivering exceptional customer experiences, Direct Energy Solar aims to empower individuals to take control of their energy consumption and lower their carbon footprints.

CPower

Acquisition in 2010
CPower, Inc. offers energy conservation and management consulting services. The company’s suite provides revenue generation, energy conservation measurement, usage forecasting, and strategic consulting services. Its clientele include CB Richard Ellis, Equity Office Properties,Morgan Stanley, Macy’s, Starwood Hotels, Hines Property Management, Forest City Ratner Corporation, Co-op City, Macklowe Properties, RFR Realty, New York Presbyterian Hospital, Newmark Properties, Douglas Elliman Property Management, The State of Massachusetts’ Division of Capital Asset Management, Lenox Hill Hospital, Cooper Square Realty, University of Massachusetts, Amherst, and Wentworth Management. CPower, Inc. was formerly known as ConsumerPowerline, Inc. and changed its name in September, 2008. The company was founded in 2000 and is based in New York, New York.

Consert

Venture Round in 2010
Consert Inc. is focused on the design and implementation of intelligent energy distribution and management networks. It drives to join all the players in the energy market to its own network creating market solutions built entirely through opt-in participation. Consert Inc. was formed in 2008 and offers the most complete real-time, energy management and conservation ecosystem available today. Consert’s Energy Management Solution gives energy conservation the attributes of generation and offers utilities the opportunity to gain operational savings, address peak load with measurable and verifiable certainty, and realize new revenue streams, all by empowering consumers to set, monitors and reduce energy consumption. Over the years, Consert has proven itself time and time again with major utilities, including the nation’s largest municipal power and gas company. In addition to full-scale commercial program initiated as pilots for among others, Fayetteville Public Works Commission and Wake Electric Membership Corporation, Consert has partnered with CPS Energy of San Antonio – and its more than 700,000 customers – to reduce peak demand by more than 250 megawatts over the next three years.

Univa

Venture Round in 2005
Univa Corporation specializes in enterprise-class workload management and containerization solutions, designed to optimize the performance of applications, containers, and services. The company offers a range of products, including Univa Grid Engine, a distributed resource management system that enhances resource efficiency in data centers. Its add-ons, such as the Container Edition for managing Docker containers, and License Orchestrator for managing licensed applications, complement this core offering. Univa also provides the Universal Resource Broker, which enables the hosting of big data frameworks, and UniSight Reporting for analytics on resource usage. The company's solutions facilitate the automatic management of workloads across on-premise, hybrid, and cloud infrastructures, helping organizations scale their compute resources effectively. Founded in 2004 and headquartered in Hoffman Estates, Illinois, Univa operates additional offices in Canada and Germany and serves hundreds of clients, managing thousands of applications and running billions of tasks daily. As of September 2020, Univa is a subsidiary of Altair Engineering Inc.

United Devices

Series B in 2001
United Devices will add representatives from GE Equity, Constellation Ventures and Oak Investment Partners to its board of directors. United Devices develops software designed to utilize idle computer processing power, storage and bandwidth to give companies more resources in each of these areas.
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