BREAKING - RECURVE WINS 2026 AESP AWARD FOR INNOVATION IN DEMAND FLEXIBILITY $18M SERIES B BACKED BY CALPINE, QUANTUM & TOSHIBA PG&E MARKET ACCESS PROGRAM LIVE ON FLEXMARKET OPENEEMETER + CALTRACK NOW OPEN-SOURCE STANDARDS JOINS RMI VIRTUAL POWER PLANT PARTNERSHIP ~54 PEOPLE BUILDING THE GRID'S CASH REGISTER BREAKING - RECURVE WINS 2026 AESP AWARD FOR INNOVATION IN DEMAND FLEXIBILITY $18M SERIES B BACKED BY CALPINE, QUANTUM & TOSHIBA PG&E MARKET ACCESS PROGRAM LIVE ON FLEXMARKET OPENEEMETER + CALTRACK NOW OPEN-SOURCE STANDARDS JOINS RMI VIRTUAL POWER PLANT PARTNERSHIP ~54 PEOPLE BUILDING THE GRID'S CASH REGISTER
YesPress Profile / Climate & Grid Software

Recurve.

On a 104-degree afternoon, the grid does not need another power plant. It needs a million homes to ease off for an hour - and someone to prove it happened. Recurve is that someone.

Founded 2015 San Francisco, CA Demand Flexibility Open Source
Recurve logo

THE WORDMARK. A recurve bow stores energy, then releases it on cue. So does a grid that pays people for the power they politely decline to use.

$32M
Total Raised
~54
Employees
2015
Founded
100%
Open M&V Methods
The Dispatch

The cheapest power plant is the one you never build.

Picture the California grid in late summer. Air conditioners hum in unison, the sun drops behind the coastal range, solar panels go quiet, and demand climbs at exactly the wrong moment. The old answer was concrete and steel: fire up a gas peaker plant that earns its keep maybe forty hours a year. Expensive. Dirty. Idle most of its life.

Recurve's answer is quieter. Somewhere across thousands of homes, a smart thermostat nudges itself up two degrees. A heat-pump water heater delays its next cycle. An EV charger waits forty-five minutes. No one notices. Added together, those small refusals look exactly like a power plant - except this one was already paid for, sitting in people's garages and hallways.

The catch, always, was proof. A utility cannot pay for electricity that was never used unless it can measure the absence of it - rigorously, defensibly, in front of a regulator who is paid to be skeptical. For years that measurement was a hand-wave, a consultant's estimate, an argument. Recurve turned it into a number you can audit.

The company builds the FLEX platform: software that reads revenue-grade data from smart meters and calculates, household by household, how much load actually shifted. It runs on open-source methods - OpenEEmeter and the CalTRACK standard - that Recurve itself helped seed. Anyone can inspect the math. Even competitors. Especially regulators.

That openness is the unusual part. Most software companies guard their core IP like a recipe. Recurve gave its measurement engine away, then built a business on top of the trust that created. When the way of counting is public, the fights stop being about methodology and start being about results.

So utilities stopped arguing and started paying. Through FLEXmarket, Recurve runs pay-for-performance markets where aggregators and contractors get compensated not for installing a device, but for the verified grid value it delivers when the grid is straining. Perform, get paid. Don't, don't.

"The grid's newest resource was hiding in plain sight - in the electricity people were willing not to use, if only someone would pay them for it."
"Faster, more flexible, and dependable - what utilities have been asking for."
- Matt Golden, Founder & CEO, Recurve
The Toolkit

Five tools, one idea: make flexibility countable.

Platform

FLEX

The demand-side platform. Design, run, and verify efficiency, demand-response and DER programs on revenue-grade meter data.

Marketplace

FLEXmarket

A pay-for-performance market connecting aggregators and solution providers to utilities - paid for measured load reductions, not promises.

Analytics

FLEX Insights

Targeting, load disaggregation, performance tracking, and regulator-ready measurement-and-verification reports.

Open Source

OpenEEmeter / OpenDSM

The open M&V engine implementing CalTRACK methods, now stewarded under Linux Foundation Energy.

Open Source

FLEXvalue

Open tooling to value avoided-cost and grid benefits of demand-side resources for planning and cost-effectiveness.

Who Uses It

The Buyers

Investor-owned and community-choice utilities, regulators, and aggregators - including PG&E and MCE in California.

Follow The Money

Capital, stacked.

Disclosed funding rounds

~$32M total // figures as publicly reported

2022 · Series B
$18.0M
2025 · Follow-on
$12.6M
Earlier rounds
~$1.4M

Backers include Calpine Energy Solutions · Quantum Capital Group · Toshiba Energy Systems & Solutions

The Record

A long bet on flexibility.

2004

Matt Golden launches an earlier energy-audit company - also called Recurve (formerly Sustainable Spaces). It is acquired by Tendril Networks in 2011.

2015

Recurve (as we know it) is founded to make energy savings measurable enough to trade.

2022 · July

Launches PG&E's Market Access Program on FLEXmarket to shave peak demand and ease summer outage risk.

2022 · August

Closes an $18M Series B from energy-industry strategics to scale the virtual power plant platform.

2025 · October

Raises a $12.6M follow-on from existing investor Quantum Capital Group amid growing demand.

2026

FLEX wins the AESP Energy Award for Innovation in Demand Flexibility.

The Network

It takes a grid to move a grid.

Recurve works where software meets regulation - which means its partners are utilities, public agencies and standards bodies as much as technology firms.

PG&E · Market Access Program MCE · Residential efficiency market RMI · VPP Partnership (w/ Kraken, Voltus) LF Energy · OpenDSM stewardship NYSERDA · CalTRACK methods CA Energy Commission · CalTRACK 2.0 Energy Trust of Oregon · Methods
Margin Notes

Details worth dog-earing.

The name

A recurve bow stores energy and releases it on demand. Apt for a company that stores grid flexibility for the moment it is needed most.

Second act

Founder Matt Golden ran an earlier Recurve - an energy-audit business acquired by Tendril in 2011. This is the sequel, with bigger stakes.

Gave away the recipe

OpenEEmeter and CalTRACK are open source. Even rivals can audit the math - which is exactly why regulators trust the result.

Invisible power plant

The product turns ordinary thermostats and EV chargers into pieces of a power plant that never had to be poured in concrete.

Last Word

Back to that 104-degree afternoon.

The heat hasn't broken. The air conditioners still hum. But the grid no longer flinches, because somewhere a few thousand homes just eased off in concert - and a meter, read against an open standard, recorded every watt of it. No gas peaker spun up. No one sweated through a rolling blackout. A check went out to the people and providers who made the room.

That is the trade Recurve is building: pay for the electricity people are glad to skip, count it honestly, and let the cheapest power plant be the one that was never built. The grid still hums. It just hums a little lighter now.