ANAHEIM, Calif. & AUSTIN, Texas--(BUSINESS WIRE)--Mercom Capital Group (Mercom), a global clean energy research and communications firm headquartered in Austin, Texas, announced that Pearl Street Technologies (Pearl Street), a developer of software solutions that mitigate the interconnection backlog, was named Start-Up of the Year at RE+.
Pearl Street's software automation products allow transmission providers to expedite time consuming interconnection studies and allows project developers more certainty around timelines and costs to help get utility-scale projects off the ground faster.
Out of more than 50 applicants for the competition, Pearl Street Technologies was among 10 finalists to pitch its solution to a live audience and judging panel that included:
- Raj Prabhu, CEO of Mercom Capital Group;
- Stephanie Annerose, Director of Energy & Power at investment bank Piper Sandler & Co.; and
- Alexander Carbone, Vice President at private equity management firm Clairvest.
"Venture investments have been robust over the past two years, making it a great time to be a cleantech start-up. From energy storage to advanced solar technologies, this year's finalists are addressing some of the most pressing challenges facing the clean energy sector today. What made Pearl Street Technologies stand out was its innovative approach to tackling the interconnection backlog, a major roadblock in the deployment of clean energy projects," said Raj Prabhu, CEO of Mercom Capital Group.
Interconnection is one of the largest hurdles to the clean energy transition. With nearly three terawatts of renewable energy waiting in nationwide queues, solutions must be developed and adopted to mitigate the backlog. Pearl Street's solutions are being used by transmission providers and developers alike, with nearly 10% of the nation's backlog modeled utilizing the company's software to date to help accelerate the interconnection process.
"We're honored to be chosen as the 2024 RE+ Start-up of the Year, especially considering the impressive cohort of our fellow participants," said Pearl Street Technologies Co-founder and CEO David Bromberg, Ph.D. "Ultimately, we aim to help unlock the flow of clean energy onto our nation's power grid and to increase traction with both transmission providers and utility-scale project developers to overcome the interconnection bottleneck. Between market readiness and a track record of clearing the queue, the judges found our story compelling and worth amplifying. Winning this competition and attending RE+ will certainly enhance our visibility and provide opportunities for us to further cement our name as a leading innovator in such a critical space."
IMAGE #2: The judges and 10 finalists of the RE+ Start-Up Live Competition hosted by Mercom Capital Group.
The complete list of competition finalists includes:
- Flip Energy
- Icarus RT
- Jasmine Energy
- OnSight Technology
- Pearl Street Technologies
- Popular Power
- Rocking Solar
- Spark AI
- Storlytics
- Sundial
With more than 40,000 attendees at RE+, the Start-Up Live Competition hosted by Mercom Capital Group is an indispensable event for start-ups with innovative products and solutions within the clean energy industry. Through the competition, finalists have been able to network, find new customers and investors, gain media attention, and add thought leaders and leading companies to their network.
Director of Communications and Marketing Cara Adams represented Pearl Street at the competition. The company received a marketing and communications package from Mercom valued at $15,000, which includes communications strategy and expertise and a booth space at RE+ 2025 in Las Vegas.
"Congratulations to Pearl Street Technologies for their victory at the 2024 RE+ Start-Up Live Competition with innovative software solutions tackling interconnection bottlenecks and advancing the journey toward a reliable, decarbonized grid," said Gary Thuro, Chief Business Officer, RE+ Events. "We'd also like to extend our thanks to Mercom Capital for organizing and hosting the event."
About Mercom Capital Group
Mercom Capital Group is an integrated communications, research, and media firm focused exclusively on clean energy markets in the U.S., Europe, India, and the Middle East. Our communications division helps clean energy companies build powerful relationships with media, analysts, government decision-makers, local communities, and strategic partners. Our research division produces industry-leading market intelligence reports on solar, storage, smart grid, and hydrogen. Our exclusive quarterly global funding and M&A reports are the industry's primary source for tracking funding activity in the sector. These reports and trackers are crucial for monitoring market, technology, and sector trends, serving as essential tools for investor targeting. Learn more at: http://www.MercomCapital.com. Sign up for Mercom's clean energy reports: https://mercomcapital.com/clean-energy-reports/.
Follow Mercom Capital on LinkedIn and X.
About Pearl Street Technologies
Pearl Street Technologies is an interconnections solutions company based in Pittsburgh, Pennsylvania. Backed by best-in-class venture capital firms VoLo Earth, Pear VC, Powerhouse Ventures, and Incite, Pearl Street's mission is to help expedite the transition to a decarbonized grid. The company's portfolio includes its two software products, Interconnect™ and SUGAR™ (Suite of Unified Grid Analyses with Renewables). Interconnect™ is a customized risk analysis platform for project developers, aiming to provide certainty throughout the interconnection lifecycle. SUGAR™ is utilized by grid operators and utilities to accelerate study timelines through its robust modeling and simulation capabilities. To date, Pearl Street's software solutions have been used to model nearly 1000 queued renewable generation projects nationwide.
