Carnegie Mellon University spin-off Pearl Street Technologies was named Startup of the Year at RE+, the largest annual clean energy event in North America.
"We're honored to be chosen as the 2024 RE+ Startup of the Year, especially considering the impressive cohort of our fellow participants," Pearl Street co-founder and CEO David Bromberg said in a prepared statement. "Ultimately, we aim to help unlock the flow of clean energy onto our nation's power grid and to increase traction with both transmission providers and utility-scale project developers to overcome the interconnection bottleneck. Between market readiness and a track record of clearing the queue, the judges found our story compelling and worth amplifying."
The company, which is focused on utilizing software automation to improve power grids, was one of 50 applicants in the competition. Those 50 were then narrowed down to 10 finalists, who pitched to a judging panel that included representatives from private equity and venture capitalist firms.
"What made Pearl Street Technologies stand out was its innovative approach to tackling the interconnection backlog, a major roadblock in the deployment of clean energy projects," Mercom Capital Group CEO and panel judge Raj Prabhu said in a prepared statement.
Alongside the title, Pearl Street received a marketing and communications package form Mercom valued at $15,000, which, in addition to expert support, includes booth space at RE+ 2025 in Las Vegas. RE+ is attended annually by approximately 40,000 people in the clean energy industry, many of whom are investors and perspective customers.
"Winning this competition and attending RE+ will certainly enhance our visibility and provide opportunities for us to further cement our name as a leading innovator in such a critical space," Bromberg said in a prepared statement.
The company has been expanding this year and recently solidified office space in Bakery Square.
