National Grid Partners Commits $100 Million to AI Startups Advancing Energy Future
National Grid Partners, the corporate venture capital and innovation arm of a major utility company, is investing $100 million in artificial intelligence (AI) startups to drive advancements in the energy sector. This commitment aims to enhance efficiency, reduce emissions, and strengthen the energy grid to support economic growth, lower costs for customers, meet climate goals, and ensure energy security.
The latest investment by National Grid Partners is in Amperon, a leading provider of AI-powered energy forecasting and analytics solutions. This investment is part of the company’s ongoing support for AI startups focused on energy innovations, with over $150 million already invested in 18 such companies.
CEO John Pettigrew emphasizes the crucial role of AI in resolving challenges faced by power systems, such as increased demand from data centers and electric vehicles, as well as the need for a more flexible grid with the growth of renewable energy sources. Scaling AI technology will enable National Grid to provide a more efficient, modern grid for its customers in the U.S. and U.K.
National Grid Partners invests in various technologies to drive rapid impact for utilities and the broader energy sector. Over 80% of its portfolio companies are strategically engaged with National Grid business units to streamline operations, enhance safety and reliability, improve customer service, and accelerate the development of future energy networks.
Examples of companies in National Grid Partners’ portfolio include AiDASH, Exodigo, Luminance, Sensat, and Urbint, each utilizing AI to improve operations, increase efficiency, and enhance safety across critical infrastructure projects.
President Steve Smith highlights the transformative impact of AI on National Grid’s operations, from accelerating construction timelines to boosting transmission line capacity. Through collaborations with the NextGrid Alliance, National Grid Partners is driving innovation across the industry to build a more intelligent and robust energy grid while maximizing the value of AI technology.
In conclusion, National Grid Partners’ $100 million commitment to AI startups demonstrates its dedication to advancing the energy sector through innovative technologies. By leveraging AI to drive efficiency, safety, and sustainability, National Grid is paving the way for a more resilient and dynamic energy grid for the future. Stay connected with National Grid Partners for the latest updates on their investments and initiatives in shaping the energy landscape.
