While the whole world is switching towards electric and low-carbon power systems, Arcus Power, is revoluionsing power management with its predictive analytics SaaS solution. The company has closed $11 million in a Series A funding round led by Longbow Capital with their Longbow Capital Energy Transition Fund, which is dedicated to investments in the energy and power market that will benefit from the energy transition.
This investment will enable Arcus to expand its Canadian services and leverage its machine learning model software for growth in the US. 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.
With strong customer service and established business partners, Arcus Power is gearing up to support power consumers across North America.
Dan Erhardt, Founder and CEO at Arcus Power said. “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.”
Arthur Robinson, Managing Director of Longbow Capital, explained: “Longbow’s mission is to support companies that take an innovative approach to bring energy to the world in the most efficient, cost-effective and environmentally responsible manner. 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.”
Revoluionses power management
Founded by Dan Erhardt in Calgary, Canada, Arcus Power is a customer-focused company that wants to benefit industrial consumers by aligning their energy cost management needs with energy market conditions through technology. It provides a unique and competitive solution to increasing volatility and complex electricity market that offers both cost-saving solutions and revenue enhancement to its customers.
Arcus’s predictive analytics SaaS supports customers across industries, including Power Generation, Oil & Gas Upstream/Midstream, Mining, Steel, Forestry, Cryptocurrency, Food & Beverage, and Municipalities to reduce operating costs, monetise cost centres, achieve environmental targets and improve grid efficiencies. As per the company, its technology has global potential to revolutionise power management.
It helps each customer implement customised and industry-specific strategies that optimises energy management and reduce costs. Arcus applies domain expertise to augment AI models for dynamic energy and emission cost management.
What does Arcus Power do?
The company’s SaaS supports helps customers achieve environmental targets and improve grid efficiencies. It is possible with their expertise in predictive insights of electricity demand, price and asset optimisation.
Arcus Power lets customers proactively decouple their operations from peak power costs, avoid coincident peak demand charges to significantly reduce the energy bill, monetise the cost centres through Demand Response system, and optimise power assets to increase their margins and track and gain insight to the true carbon cost of electricity.
