Switched Source Secures Over $17 Million to Help Utilities Add Grid Capacity Faster
- Round led by Cubit Capital, with participation from ABB, Southern States, Southwire, and additional strategic investors
- Funding will scale manufacturing and testing capacity, accelerate utility deployments, and support expansion of the utility solution portfolio
- Switched Source is also adding manufacturing, quality, and supply chain roles at its Chicago headquarters
- Phase-EQ has surpassed 150,000 run hours across twelve utility service areas, with field data showing 10% to 25% increases in load-serving capacity
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, Switched Source, a leading developer of grid-enhancing distribution automation technologies, has secured over $17 million in funding to scale deployment of its flagship technology, the Phase-EQ. Cubit Capital 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.
“At Cubit Capital, we partner with courageous leaders confronting foundational problems,” said Philip Carson, Partner at Cubit Capital. “Grid capacity is one of these growing challenges, with consequences for utilities, businesses, and the communities they serve. Switched Source combines leadership that understands the utility market with technology that has demonstrated its value in operating environments. With major utility rollouts already underway, they have built a strong foundation for continued growth and a pragmatic pathway for modernizing our electric infrastructure at scale.”
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.
“Utilities need technologies that integrate with existing electrical systems while improving the flexibility and performance of the distribution grid,” said Deni Miller, U.S. Electrification Business Lead, at ABB. “Switched Source has developed a field-tested approach to a real operational challenge. We see an opportunity for its technology to support utilities as they add capacity, improve efficiency, and prepare their networks for continued load growth.”
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.”
“The distribution grid will require solid-state solutions to support rising electricity demand and increasing grid complexity,” said John Paserba, President and CEO, at Southern States. “We see Switched Source as a proven leader with deployed equipment that provides tangible benefits to utilities and their customers.”
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.
About Switched Source:
Switched Source offers advanced power-flow control solutions that enable electric utilities to increase reliability, unlock latent capacity, and support growing electrification without expensive infrastructure investments. Since 2016, Switched Source has pioneered technology that optimizes power distribution, mitigates congestion, and strengthens grid flexibility, offering a rapidly deployable alternative to traditional system upgrades. Switched Source is committed to helping utilities adapt to new demands while delivering a more efficient, resilient, and sustainable power grid. Visit www.switchedsource.com to learn more.
About Cubit Capital:
Cubit Capital is a Dallas-based, early-stage venture capital firm investing in courageous entrepreneurs called to confront foundational problems with humility and confidence. Anchored to the belief that we are called to steward resources well and serve others, we partner with founders from Pre-Seed through Series A across two core areas: enduring infrastructure, such as energy resilience, supply chain, and defense; and platforms for human flourishing, such as education, workforce development, and redemptive content. To learn more, visit our website, follow us on LinkedIn, and subscribe to our newsletter.
Jenna Landgraf
Technica Communications
switched@technica.inc
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