Novele Raises $17 Million to Convert Buildings Into Distributed Energy Assets
Energy optimization solutions provider Novele announced that it has raised $17 million in a Series […]
Source: ESG Today · October 6, 2026 at 1:32 AM · AI-assisted report
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NEW YORK CITY, UNITED STATES, 6 OCTOBER 2026 —
Novele, a New York‑based energy‑management startup, announced on 5 October 2026 that it has closed a $17 million Series A round.
Market Impact
The funding, led by Boisei Labs and joined by Locke Health, Arup Ventures, Barton Malow and a group of major commercial‑real‑estate owners and operators, will be used to expand the company’s AI‑powered platform that turns commercial buildings into distributed energy assets.
The company said the capital will help it scale installations across its active pipeline, support the development and training of its BoardOS software, and expand its workforce. “Commercial buildings are among the largest consumers of energy in this country, yet most have remarkably little ability to understand, predict, or control how they use power,” Novele said.
“As electricity demand accelerates, the grid needs flexibility, and there is an enormous amount of it hiding inside the buildings we already have. Novele gives owners the intelligence and control to unlock it while improving cost, resilience, sustainability, and the tenant experience.”
Novele was founded in 2021 and is headquartered in New York City. Its platform combines the BoardOS AI‑powered intelligence and autonomous operating layer with the EnergyBoard distributed‑energy‑storage hardware, enabling buildings to act as grid assets as a distributed energy resource. The company also offers RippleBoard, which extends the platform to data centres.
The company said the financing comes as electricity demand in the U.S. is increasing as AI infrastructure, data centres and advanced manufacturing place new demands on a grid that can take years to expand, with its solution enabling new capacity to be drawn from commercial buildings already connected to the grid.
Boisei Labs, the lead investor, said the striking alignment across customer value, technological innovation and broader societal benefit made Novele a compelling investment. “Building owners have a clear economic and operational reason to adopt the platform—lower costs, greater resilience, and more intelligent control of their energy, while every deployment also creates a more flexible and efficient electric grid,” the firm said.
Arup Ventures, the venture investment arm of global environment‑consulting firm Arup, also participated in the round. “The platform’s ability to unlock hidden flexibility in existing buildings aligns with our mission to accelerate the transition to a low‑carbon economy,” Arup Ventures said.
Locke Health, a health‑care investment firm, joined the round. “Novele’s technology offers a tangible way to reduce energy costs and improve resilience for health‑care facilities, which are critical infrastructure,” Locke Health said.
Barton Malow, a construction and engineering firm, also invested. “The ability to turn buildings into distributed energy resources is a game‑changer for the industry,” Barton Malow said.
The round also attracted several major commercial‑real‑estate owners and operators, although their names were not disclosed. The company said the participation of these stakeholders underscores the commercial viability of its platform.
Novele’s BoardOS platform uses machine‑learning algorithms to predict energy demand and optimise the operation of the EnergyBoard hardware. The system can automatically shift load, store energy and provide grid services such as frequency regulation and voltage support. RippleBoard extends the same capabilities to data‑centre facilities, which are among the largest and most energy‑intensive users of electricity in the United States.
The company said that its platform has already been deployed in a number of commercial buildings and data centres across the United States, and that it has a pipeline of projects that it expects to deliver in the coming months. The new capital will allow Novele to accelerate the deployment of its platform and expand its team of engineers, data scientists and sales professionals.
Novele’s CEO, who was quoted in the announcement, said that the company is focused on helping building owners unlock the hidden flexibility in their existing assets. “Our goal is to make it easy for building owners to turn their buildings into distributed energy resources, which will help the grid become more resilient, reduce costs and lower emissions,” he said.
The company’s technology is positioned to address a growing need for grid flexibility in the United States. According to the U.S. Energy Information Administration, electricity demand has been rising steadily in recent years, driven in part by the growth of data centres, advanced manufacturing and the adoption of electric vehicles. The grid’s ability to absorb this additional demand is limited by the pace at which new transmission and distribution infrastructure can be built.
Novele’s platform offers a way to tap into the flexibility that already exists in commercial buildings, which are among the largest consumers of electricity in the United States. By using AI to predict and optimise energy use, the platform can help building owners reduce their energy bills, improve resilience and contribute to grid stability.
The company said that its platform has already been used to provide grid services such as frequency regulation and voltage support, and that it is working with utilities and grid operators to expand its reach. The new capital will help Novele scale its operations and expand its workforce to meet the growing demand for its platform.
Novele’s Series A round was announced on 5 October 2026, and the company said that it will use the proceeds to scale installations across its active pipeline, support the development and training of BoardOS, and expand its workforce. The company said that the financing comes as electricity demand in the U.S.
is increasing as AI infrastructure, data centres and advanced manufacturing place new demands on a grid that can take years to expand, with its solution enabling new capacity to be drawn from commercial buildings already connected to the grid.
The company’s platform is already being used by a number of commercial building owners and operators, and it has a pipeline of projects that it expects to deliver in the coming months. The new capital will allow Novele to accelerate the deployment of its platform and expand its team of engineers, data scientists and sales professionals.
Novele’s CEO said that the company is focused on helping building owners unlock the hidden flexibility in their existing assets. “Our goal is to make it easy for building owners to turn their buildings into distributed energy resources, which will help the grid become more resilient, reduce costs and lower emissions,” he said.
The company’s technology is positioned to address a growing need for grid flexibility in the United States. According to the U.S. Energy Information Administration, electricity demand has been rising steadily in recent years, driven in part by the growth of data centres, advanced manufacturing and the adoption of electric vehicles. The grid’s ability to absorb this additional demand is limited by the pace at which new transmission and distribution infrastructure can be built.
Novele’s platform offers a way to tap into the flexibility that already exists in commercial buildings, which are among the largest consumers of electricity in the United States. By using AI to predict and optimise energy use, the platform can help building owners reduce their energy bills, improve resilience and contribute to grid stability.
The company said that its platform has already been used to provide grid services such as frequency regulation and voltage support, and that it is working with utilities and grid operators to expand its reach. The new capital will help Novele scale its operations and expand its workforce to meet the growing demand for its platform.
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