Enverus has acquired Pearl Street Technologies, an automation solutions provider focused on streamlining interconnection studies for transmission providers, utilities and energy developers, according to a news release.

The acquisition, announced March 13, came as about 2.4 terawatts of proposed projects wait in interconnection queues to be connected to U.S. power grids. Pittsburg-headquartered Pearl Street has among its portfolio software automation products that aims to speed up time-consuming aspects of interconnection studies for grid operators and utilities by providing customizable interconnection studies and risk assessments, the release states.

“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,” said Enverus CEO Manuj Nikhanj. “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.”

The acquisition of Pearl Street Technologies, a spinout from Carnegie Mellon University, strengthens Enverus’ suite of offerings as it expands deeper into power and energy transition solutions, the company said.

“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.”

Comments