CHICAGO, USA — As utilities face rising electricity demand, unlocking additional capacity from existing distribution infrastructure can help meet growing load more quickly and cost-effectively. To accelerate this effort, Emerald, a globally recognized venture capital firm focused on sustainable industrial innovation, has invested in Switched Source, a leading developer of grid-enhancing distribution automation technologies. Switched Source has secured over $17 million in funding to scale deployment of its flagship technology, the Phase-EQ. Other investors include Cubit Capital, who led the round, with participation from ABB, Emerald Technology Ventures, Red Cedar Ventures, Southern States, Southwire Company, and other strategic investors. The investment will expand Switched Source’s manufacturing and production capacity to support growing utility adoption and a broader pipeline of Phase-EQ deployments across North America. Switched Source is also adding manufacturing, quality, and supply chain roles at its Chicago headquarters and continuing development of additional solutions for utility distribution systems.
“Utilities are planning for a grid that is changing faster than it ever has before, but many of the tools they have at their disposal take years to implement and are 40+ year commitments,” said Charles Murray, co-founder and CEO of Switched Source. “We need to give utilities more options: tools that can be deployed quickly, improve the performance of the grid they already have, and preserve flexibility as demand evolves. This investment allows us to put more of those tools in utilities’ hands at a time when speed to power, affordability, and reliability all matter.”
The funding builds on Switched Source’s work with utilities and public-sector programs. The company recently kicked off a five-year, $99 million project through the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships Program to deploy Phase-EQ units in the Southeast in support of storm restoration. The project is intended to help utilities rebalance power as feeders are reconfigured, restore service more quickly, and reduce the risk of overloading constrained power lines.
The Phase-EQ is an automated power-flow control device on the distribution grid that dynamically balances power across the three phases on distribution circuits, helping utilities improve reliability and power quality while unlocking additional load-serving capacity from infrastructure already in service. The system is designed to manage volatile and uneven loads created by electrification, including EV charging and heat pump adoption. Each Phase-EQ deployment can bring 100 to 200 additional homes online without building new infrastructure.
Switched Source’s technology has surpassed 150,000 run hours across twelve utilities. Field data from active deployments show 10% to 25% increases in load-serving capacity. Total lead time from purchase order to site activation typically ranges from fourteen to twenty weeks, compared with the one- to three-year timelines associated with many traditional distribution upgrades.
"As utilities face mounting pressure to improve reliability while keeping customer costs affordable, interest in non-wires solutions has never been greater," said Frank Balas, Senior Investment Director at Emerald Technology Ventures. "Switched Source stands out because the team understands how utilities make decisions. They have translated that insight into a practical technology that unlocks existing grid capacity today, helping utilities meet growing demand faster and more cost-effectively."
Switched Source plans to continue to build on its field experience to support broader deployment of flexible, capital-efficient grid solutions. To learn more about Switched Source, please visit www.switchedsource.com.
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