Power Quality Solutions Firm Brings In $24 Million

Power Survey closed $24 million in Series A financing. Cycle Capital, Investissement Quebec, EnerTech Capital, Fonds de solidarite FTQ, and BDC Venture Capital participated in the funding.

Power Survey is a provider of high quality power factor correction and harmonic filtering products and services, specializing in customized, low- to medium-voltage solutions. Evolving energy trends, including distributed energy resources and new factory equipment with variable speed drives, have increased the problems and costs associated with power quality and harmonics. It helps commercial and industrial energy customers reduce utility charges, equipment damage, and operational difficulties stemming from poor power factor and harmonic issues. The company also helps utilities create a more reliable and efficient grid to cope with increasing energy demand while reducing carbon footprints.

According to the company, the funding will be used to support growth, including geographic expansion, new product development, and the acquisition of Power Standards Lab.