PowerGEM Secures Strategic Growth Investment from General Atlantic and Announces Acquisition of Telos Energy

PowerGEM aims to expand its ability to address rapidly evolving grid complexity and accelerating market demand

CLIFTON PARK, N.Y.--(BUSINESS WIRE)--PowerGEM, LLC, has secured a strategic growth investment from General Atlantic, a leading global investor, through its BeyondNetZero fund focused on the energy transition. PowerGEM also announced its recent acquisition of Telos Energy (Telos), an engineering consulting company that specializes in complex power system analysis, integrated resource planning, and market forecasting. General Atlantic’s BeyondNetZero will join TA Associates (TA), a PowerGEM investor since 2024, in supporting the company’s mission to maintain power grid reliability and optimize market efficiency.

For more than 25 years, PowerGEM has provided advanced simulation software and technical services to the power industry in North America. The company serves all U.S. power system operators and many of the power industry’s largest utilities, power producers, energy developers, consultants, and traders. Customers rely on the company’s technology and expertise for mission-critical decisions that underpin both short-term operations and long-term planning. PowerGEM has increasingly leveraged AI within its products to improve forecasting accuracy, expand scenario and risk analysis, and give engineers a more intuitive path from data to decision.

“The power sector is undergoing unprecedented transformation, and as PowerGEM enters its 26^th year, we’re scaling to meet the moment,” said Joe DeMatteo, Chief Executive Officer of PowerGEM. “We’re excited to welcome General Atlantic as a new partner as we build a unified platform that integrates grid reliability and market economics to provide customers with the actionable insights they need to make high-stakes decisions with confidence. I’m incredibly proud of our team and the role we’ll play in helping to modernize the grid, accelerate the integration of new energy resources, and support a more reliable, resilient, and energy-efficient future.”

As grid modernization and interconnection activity accelerate, driven by aging infrastructure, increasing capacity needs, and rising costs, investment decisions are growing in scale, complexity, and risk. PowerGEM unifies generation and transmission planning with market analysis, providing the analytical clarity and control that enables power sector stakeholders to bring new capacity online more efficiently and cost effectively – without compromising reliability. With General Atlantic’s investment and TA’s continued partnership, PowerGEM is positioned to accelerate product integration, expand AI-enabled product capabilities, broaden its commercial reach, and pursue additional strategic acquisitions.

“PowerGEM’s technology is deeply embedded across the U.S. energy ecosystem, and the company’s expertise in grid engineering and market operations has made it a trusted partner across the industry,” said Wilson Bowen, Managing Director at General Atlantic. “We believe their simulation capabilities, technical advisory services, and strong customer relationships are central to the continued growth and modernization of the grid. We look forward to working closely with Joe, the PowerGEM team, and TA to deliver a differentiated platform for grid engineering and market analysis.”

“As the energy sector undergoes rapid transformation, we are proud to support PowerGEM as it continues to deliver products and services to help its customers navigate this generational transition,” said Charles Ha, Director at TA. “We are confident in PowerGEM’s vision and remain excited about its future. We look forward to collaborating with General Atlantic to accelerate PowerGEM’s impact.”

Since TA’s initial investment, PowerGEM has focused on accelerating the release of new offerings and executing high-growth initiatives, completing four acquisitions to extend its expertise across the energy value chain.

Telos Energy is the newest addition, with co-founders Matthew Richwine and Derek Stenclik joining PowerGEM’s leadership team. Founded in 2019, Telos works with clients to accelerate the deployment of clean and reliable energy based on the comprehensive analysis of how emerging technologies, market economics, and regulatory policies will impact power system planning and operations.

“Joining PowerGEM gives Telos a closer connection to the software tools that will drive the industry forward,” said Richwine. “Clients will benefit from the strength of PowerGEM’s software platform combined with our consulting expertise – together we can help them navigate the complexity of a rapidly evolving power grid,” added Stenclik.

Financial terms of the transactions were not disclosed. Lazard served as financial advisor to PowerGEM and TA. Goodwin Procter LLP provided legal counsel to PowerGEM and TA. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to General Atlantic.

About PowerGEM
PowerGEM provides advanced simulation software and technical services for power grid engineering and energy market efficiency across North America. Founded in 2000, the company serves all U.S. power system operators and many of the power industry’s largest utilities, power producers, and energy developers, consultants, and traders, who rely on its technology and engineering expertise to plan, operate, and expand the grid reliably and cost effectively. PowerGEM’s capabilities span transmission planning and operations, resource adequacy, market simulation, demand forecasting and interconnection analysis. The company is backed by General Atlantic and TA Associates and has offices in Cambridge, Mass.; Clifton Park, N.Y.; Hoover, Ala.; and Milwaukee, Wis. For more information, please visit www.power-gem.com.

About General Atlantic and BeyondNetZero
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 885 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Energy Transition and Sustainable Infrastructure strategies. BeyondNetZero is General Atlantic’s dedicated growth equity strategy focused on the energy transition. The fund invests in high growth companies enabling the shift to a more efficient and resilient energy system. General Atlantic manages approximately $126 billion in assets under management, inclusive of all strategies, as of December 31, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its core sectors, including technology, business services, financial services, and healthcare. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai, and Hong Kong. Learn more at www.ta.com.