Enverus, a leading energy-dedicated SaaS company, has acquired Pearl Street Technologies, a pioneer in automating interconnection studies for transmission providers, utilities, and energy developers. This acquisition aims to tackle the growing challenges surrounding resource adequacy, renewable energy integration, and grid reliability — issues that have become increasingly urgent with 2.4 terawatts of proposed projects currently waiting in interconnection queues across the U.S.
Founded in 2018 as a spin-out from Carnegie Mellon University, Pearl Street Technologies has developed two core automation products: SUGAR™ (Suite of Unified Grid Analyses with Renewables) and Interconnect®. SUGAR™ is an advanced power flow engine that enhances grid modeling and simulation, significantly accelerating interconnection studies by reducing engineering analysis time up to 200 times. This technology has been used to process more than 300 gigawatts (GW) of projects for transmission providers, with another 100 GW currently in the pipeline.
Manuj Nikhanj, CEO of Enverus, said “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. 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.”
David Bromberg, co-founder and CEO of Pearl Street Technologies, stated “Bringing new generation capacity online faster is the greatest challenge facing the energy industry today. 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.”
Interconnect® builds on SUGAR™’s capabilities to offer developers, M&A firms, and financiers customizable interconnection studies and risk assessments. The platform enables users to generate injection capacity maps, run shadow studies, evaluate cost allocation scenarios, and assess interconnection risks — all in-house and within hours. By providing these insights, Interconnect® empowers decision-makers to streamline projects and increase their chances of interconnection success.
Enverus has been rapidly expanding its power and energy transition solutions since 2017 and now serves over 1,200 customers, including power and data center developers, utilities, institutional investors, power traders, and government entities. By adding Pearl Street’s cutting-edge technology to its suite of offerings, Enverus reinforces its role as a leading power and energy transition platform, delivering end-to-end solutions grounded in 25 years of proprietary data, analytics, and intelligence.
Bernadette Johnson, GM of Power and Renewables, mentioned “Enverus is driving meaningful ROI for its customers with data-driven insights and technology. 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.”
Pearl Street Technologies is headquartered in Pittsburgh and has earned recognition as a leader in interconnection innovation. The company has participated in high-profile industry events organized by the Federal Energy Regulatory Commission (FERC), the White House, and state utility commissioners, reflecting its growing influence in shaping grid modernization efforts. Illuminav Advisors, Inc. served as Pearl Street Technologies’ advisor during the transaction. With this acquisition, Enverus is better equipped to help energy developers and investors navigate the complexities of interconnection processes while expediting the path toward a more resilient and renewable energy grid.
