Chicago-based Switched Source has secured more than $17 million to scale a technology that helps electric utilities increase grid capacity without building new power lines.
The financing was led by Cubit Capital, with participation from ABB, Emerald Technology Ventures, Red Cedar Ventures, Southern States and Southwire Company. Founded in 2016 and led by co-founder and CEO Charles Murray, the company will use the funding to expand manufacturing, increase production capacity and accelerate deployments across North America.
Its flagship product, Phase-EQ, tackles a specific problem in electricity distribution: power is not always evenly distributed across the three phases of a circuit. Some sections can become overloaded while others still have unused capacity. Phase-EQ automatically rebalances power flows, allowing utilities to serve more customers using existing infrastructure.
Switched Source reports more than 150,000 operating hours across 12 utilities, with field deployments showing 10% to 25% increases in load-serving capacity. According to the company, installations typically take 14 to 20 weeks from purchase order to activation, compared with one to three years for many conventional distribution upgrades.
The technology is also being deployed through a five-year, $99 million project supported by the US Department of Energy's Grid Resilience and Innovation Partnerships program. The project focuses on improving storm recovery and grid flexibility in the southeastern United States.
The opportunity is being driven by growing electricity demand from data centers, electric vehicles and broader electrification. Utilities face pressure to add capacity faster, while traditional infrastructure investments can take years to complete.
Switched Source has moved beyond laboratory validation, but widespread adoption will depend on proving that the equipment delivers consistent reliability and economic benefits across different networks. The larger question is how much new grid capacity can be unlocked through better control before utilities need to build more physical infrastructure.