Logical Buildings Raises $10M for National Expansion of GridRewards™ Virtual Power Plant Software

February 2, 2022

in Member News,

Logical Buildings Raises $10M for National Expansion of GridRewards™ Virtual Power Plant Software

GBA member Logical Buildings has announced the close of a $10 million funding round, led by Keyframe Capital. The funding will be used to facilitate the national expansion of Logical Buildings' award-winning GridRewards™ Virtual Power Plant (VPP) software, helping real estate owners and managers to fulfill increasingly stringent Environmental, Social, and Governance (ESG) requirements. The GridRewards mobile app enables energy consumers to participate directly in VPPs, allowing them to earn them cash rewards for reducing energy usage at critical times, create outsized carbon footprint reductions, and help to prevent brownouts.

In the New York City metro area, GridRewards leverages Con Edison’s AMI infrastructure via the utility’s Green Button Connect My Data implementation, and is available to commercial/residential owners, as well as the 3.5 million tenants in New York City. The new funding will enable Logical Buildings to accelerate GridRewards' expansion into markets in California, Illinois, Texas, Florida, Ontario and other high-population regions.

Download the free GridRewards app on the App Store or on Google Play. Follow Logical Buildings on LinkedIn.