Novele Closes Oversubscribed $17M Series A to Scale Autonomous Energy Intelligence for Commercial Buildings

Novele Closes Oversubscribed $17M Series A to Scale Autonomous Energy Intelligence for Commercial Buildings

STAMFORD, Conn., and IRVINE, Calif. September 30, 2026-- Novele, an applied AI company for energy in the built environment, today announced the close of an oversubscribed Series A financing led by Boisei Labs, with participation from Locke Health, Arup Ventures — the venture investment arm of the global built environment consulting firm Arup, national construction firm Barton Malow, and several of the largest commercial real estate owners and operators.

Novele gives commercial buildings the intelligence and control to predict, reshape, and optimize their power in real time. Its platform combines BoardOS, Novele’s AI-powered energy software, with EnergyBoard, its distributed energy storage hardware, creating a full-stack system for existing, occupied commercial buildings.

The financing comes as electricity demand in the United States is accelerating as AI infrastructure, data centers, and advanced manufacturing place new demands on a grid that can take years to expand.

Novele’s thesis is that the fastest path to new grid capacity is already built: the millions of commercial buildings connected to it. Novele transforms these passive energy consumers into intelligent grid assets through a fully owned, end-to-end stack spanning cells to software.

“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,” said Charles Conwell, CEO and co-founder of Novele. “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. We’re building that future with an exceptional team and a group of investors and industry partners who recognized this opportunity early.”

The financing follows a period of rapid progress: live deployments with Fortune 50 customers; more than 2,000 buildings engaged across a 2.6-billion-square-foot pipeline; and the completion of large-scale UL 9540A fire testing, bolstering Novele's UL 9540 Listing.

“Novele represents exactly the kind of technology we believe can create transformative impact at scale,” said George Perry, President and Founder at boisei labs. “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 striking alignment across customer value, technological innovation, and broader societal benefit is what made Novele such a strongly compelling investment for us.”

“Distributed energy systems have the potential to play an important role in how buildings and the grid manage growing power demands, but deploying them safely and efficiently in existing buildings requires solving challenges that go well beyond the technology itself,” said Soroush Jalali, Senior Ventures Manager at Arup Ventures. “Our work with Novele is focused on optimizing and streamlining the engineering and deployment process so that safe, distributed energy infrastructure can be deployed more quickly and consistently across the built environment.”

Novele will use the funding to expand its engineering, deployment and commercial teams; scale installations across its active pipeline; and continue developing and training BoardOS, its autonomous energy intelligence layer, spanning circuit-level data to portfolio-level reporting.

As Novele scales, its ambition extends beyond individual buildings. A portfolio of buildings capable of understanding and actively managing its power can become a distributed energy resource, creating flexibility for owners while supporting an increasingly constrained electric grid.

About Novele

Novele is an applied AI company for energy in the built environment. Novele makes buildings intelligent, giving them the ability to predict, reshape, and optimize their power in real time. Because that intelligence has to act on physical power, Novele builds and controls the system it runs on. EnergyBoard is Novele’s distributed energy storage platform, and BoardOS is the intelligence and autonomous operating layer that turns building energy into a controllable, economically productive asset. RippleBoard extends the platform to data centers.

Novele’s systems are UL 9540 Listed and approved for indoor installation and are deployed across commercial real estate, retail, and institutional portfolios.

Novele has offices in Stamford, Connecticut, and Irvine, California. Learn more at novele.com.