Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Gridmatic Closes $50 Million Energy Storage Fund, Underscoring Importance of AI to Optimizing Batteries

Gridmatic will operate battery systems using its AI forecasting, which can boost revenue generation for grid-tied storage systems by as high as 46%

Gridmatic, the industry-leading AI-enabled power marketer, today announces the second closing of its first energy storage fund, bringing capital commitments to $50 million. The fund is earmarked to oversee the management of up to 500 MW of battery capacity in the ERCOT and CAISO markets.

CAISO and ERCOT, which respectively manage California’s and Texas’ grids, remain the two strongest markets for energy storage with pipelines of 43.7 GW and 32 GW in planned project capacity. Gridmatic has begun operating a 50MW / 100MWh battery storage system in Texas using the fund, which was successfully completed through participation from leading energy investors.

Gridmatic establishes multi-year offtake contracts to operate energy storage systems using its AI algorithms, ensuring steady revenue streams for projects. This enables developers to obtain the necessary financing for projects and recycle their capital into the development of additional storage systems. By decoupling active management of the batteries from project development, Gridmatic’s fund derisks the operational phase of a project for storage owners and supports the growth of the energy storage industry.

Gridmatic’s AI-enabled optimization can boost revenue generation for grid-tied storage systems by as high as 46%, according to backtesting on battery systems in ERCOT in 2022.

“Gridmatic’s energy storage fund presents a unique opportunity for investors to help drive battery growth and capitalize on energy market volatility,” said Erin Kogan, Chief Financial Officer of Gridmatic. “The need to grow the grid’s reserve of AI-optimized energy storage, bolstered by our strong early returns in the initial months of operation, drove strong interest from leading energy investors in our fund.”

“Successfully closing our energy storage fund now allows us to accelerate our growth in signing offtake agreements with asset owners and developers,” said David Miller, Vice President of Business Development for Gridmatic. “This summer showed us the major potential for battery storage in California and Texas to contribute to grid resiliency efforts. Our fund will help maximize these opportunities for batteries to play a greater role in the grid and for the market to grow.”

About Gridmatic

Unlike traditional power marketers, Gridmatic uses AI to optimize renewable energy participation in wholesale markets by forecasting energy supply, demand and pricing. Leveraging market-proven algorithms, Gridmatic is able to provide stability, predictability and automation for energy buyers, sellers, and storage owners amid increasing volatility. With Gridmatic Retail, the company offers advanced solutions for businesses with complex energy needs to hit carbon reduction goals, including time matched, variable load and carbon-free energy products. With its industry-leading AI, Gridmatic is working to accelerate the transition to net zero and balance the renewable-powered grid. For more, visit https://www.gridmatic.com.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.