Utility stocks traded higher as investors sought comfort in reliable dividend income and industries that supply essential basics like water, power and heat regardless of economic gyrations.
Startup Fluxco raised $26 million to help buyers sort through a convoluted process of selecting the right transformers for electrical grids. Fluxco, backed by Congruent Ventures and 8VC, uses AI to help users specify the various features they need in a transformer and get price quotes from manufacturers, accelerating a back-and-forth that often takes weeks, according to Chief Executive Brian Tochman. At present, the company is processing purchases of more than 1,000 transformers for 34 projects, he said. Orders in just the past four months totaled about $30 million, he added. Transformers are a key component of power grids and for newly built energy-intensive data centers and factories.
Write to Patrick Sheridan at patrick.sheridan@wsj.com
(END) Dow Jones Newswires
July 23, 2026 18:22 ET (22:22 GMT)
