Undo the queue: Enverus acquires Pearl Street Technologies to solve for a more reliable, resilient grid

Addressing bottlenecks key to solving renewable energy's elusive interconnection challenges

AUSTIN, Texas, March 13, 2025 /PRNewswire/ -- Enverus, the most trusted energy-dedicated SaaS company announced today that it has acquired Pearl Street Technologies, a leading provider of automation solutions that streamline interconnection studies for transmission providers, utilities and energy developers.

The interconnection queue backlog is at the heart of today's growing resource adequacy, renewable energy, and grid reliability challenges. According to Enverus, there are 2.4 terawatts of proposed projects waiting in nationwide interconnection queues. Pearl Street brings to Enverus a portfolio of solutions that expedite interconnection and other grid planning studies to help address increasing queue volumes while helping investors and power developers future-proof their businesses.

"With project success rates remaining low, investors and power developers need a comprehensive solution to effectively navigate risks, economic returns and seize opportunities in today's evolving energy landscape. Pearl Street Technologies has established itself as a leader in this space, streamlining interconnection and grid planning studies for some of the largest balancing authorities and market participants," said Manuj Nikhanj, CEO of Enverus. "We are excited to integrate Pearl Street's and Enverus' data, analytics and platforms to provide an unprecedented end-to-end solution to all power market participants."

"Bringing new generation capacity online faster is the greatest challenge facing the energy industry today," said David Bromberg, co-founder and CEO of Pearl Street Technologies. "We have been proud to help our transmission provider partners cut study timelines by orders of magnitude and our developer customers better manage risk and uncertainty throughout the interconnection lifecycle. We are excited to be a part of the Enverus team and we're looking forward to combining our capabilities as we build the future of interconnection together."   

Founded in 2018 as a spin-out from Carnegie Mellon University, Pearl Street Technologies' portfolio has grown to include its two software automation products: SUGAR™ (Suite of Unified Grid Analyses with Renewables) and Interconnect®.

SUGAR™ is the company's core technology and innovative power flow engine. Its robust simulation and modeling capabilities allow grid operators and utilities to accelerate some of the more time-consuming aspects of interconnection studies, reducing engineering analysis time by up to 200 times. SUGAR™ has been used to process more than 300 gigawatts (GW) of queued projects by Pearl Street Technologies' transmission provider customers, with another more than 100 GW in the pipeline.

Pearl Street Technologies' Interconnect® platform utilizes SUGAR™ and serves developers, M&A firms and financiers by providing customizable interconnection studies and risk assessments. Users can generate injection capacity maps, run shadow studies, evaluate cost allocation scenarios and assess interconnection risks, all in house and in hours, to guide decision-making and steer more projects to interconnection success.

Since 2017, Enverus has rapidly expanded its power and energy transition solutions and now serves more than 1,200 customers, ranging from power and data center developers to utilities, institutional investors, power traders and government entities.

"Enverus is driving meaningful ROI for its customers with data-driven insights and technology," said Bernadette Johnson, GM of Power and Renewables. "In 2024, Enverus clients delivered 23 GW — 44% of all new U.S. power — while their projects averaged 50.5% larger capacities and were nine times more likely to reach operation. With stronger grid connections and $9/MWh higher solar-weighted LMPs, Enverus gives investors and developers a decisive edge."

With the addition of Pearl Street Technologies, Enverus strengthens its suite of solutions, backed by 25 years of proprietary data, analytics and intelligence. This acquisition further cements its role as the leading power and energy transition platform, delivering end-to-end solutions that drive real-world results.

Pearl Street Technologies is headquartered in Pittsburgh. As a leader in interconnection innovation, it has been invited to participate in select industry events organized by the Federal Energy Regulatory Commission, the White House and state utility commissioners. The company was advised by Illuminav Advisors, Inc. in the transaction.

About Enverus
Enverus is the most trusted energy-dedicated SaaS company, with a platform built to maximize value from generative AI, offering anytime, anywhere access to analytics and insights. These include benchmark cost and revenue data sourced from more than 95% of U.S. energy producers and more than 40,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing. Our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 7,700 customers in 50 countries. Learn more at Enverus.com.

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 2000 queued renewable generation projects nationwide.

SOURCE Enverus