Electrical Grid Monitoring (EGM) completes $17.5 million funding led by energy growth momentum, supporting energy utility efforts in North America to modernize the grid

LOS ANGELES, California – November 3, 2021– Electrical Grid Monitoring (EGM) Ltd. (www.egm.net) has completed a $17.5M fund raising round, led by Energy Growth Momentum (https://egmomentum.com/) a growth capital fund focusing on digital technologies applicable to the energy sector.

“This investment will accelerate our plan to support global grid modernization efforts while also accelerating the adoption of renewable generation,” said John Wilson, Partner of Energy Growth Momentum.

EGM has developed a holistic system that produces all the useful information needed to manage power grids in the era of new challenges, i.e., integration of DERs, dealing with extreme climate phenomena and erratic power quality, as well as enabling grid virtualization. The unique monitoring and analytics system was validated and proven on several global utility installations.

 “This investment will help us grow our market penetration in the United States and Europe in a meaningful way,“ said Amir Cohen, Founder and CEO of EGM Ltd.

  “We are well positioned to launch our entry to the utility grid modernization market in the U.S. to support all decarbonization activities,” said Dr. Alex Levran, CEO of EGM, Inc., USA.

About EGM

Electrical Grid Monitoring (EGM) Ltd. is the leading technology company with innovative T&D grid monitoring products that include sensing, communication, and analytics. The EGM Monitoring System delivers useful information to manage both overhead and underground utility grids. The Company is headquartered in Israel with its U.S. based subsidiary centered in Los Angeles, California. For more information, please visit www.egm.net