21:51:58 EST Fri 04 Dec 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

National Grid Partners Invests in two Artificial Intelligence Startups to Protect Critical Infrastructure

2020-10-29 15:16 ET - News Release

$6M in Investments Bring Portfolio To 21 Companies and $175M in 24 Months


LOS GATOS, Calif. -- (Business Wire)

National Grid Partners (NGP), the investment and innovation arm of National Grid plc (LSE: NG; NYSE: NGG), announces two new investments in data analytics startups that use artificial intelligence (AI) to protect critical infrastructure and ultimately help reduce costs for customers.

NGP led both funding rounds with $6M in combined investment. Since its launch in November 2018, the utility industry's first Silicon Valley-based investment and innovation firm now has put $175 million to work in emerging technology companies and specialty venture funds. These innovators share National Grid’s commitment to developing a smarter, more renewable energy future.

NGP’s newest portfolio additions are:

  • Boston-based Aperio Systems, which uses AI and machine learning (ML) to analyze and monitor industrial sensor data in real time. Aperio’s data integrity platform enables customers in industries such as energy, mining and manufacturing to make better-informed decisions, reduce downtime and boost safety and security.
  • Silicon Valley’s AiDash uses high-resolution satellite imagery coupled with AI to help utility and energy customers transform operations and maintenance activities like vegetation management, remote monitoring and disaster management. Its technology helps protect distribution grids from overgrown plant life that can spark disruptions or fires.

“National Grid’s ambition is to become the most intelligent transmission network in the world,” said Lisa Lambert, the company’s Chief Technology and Innovation Officer and the founder and president of National Grid Partners. “We are investing in and deploying technologies across our networks to enhance resilience and reliability, while more easily integrating clean energy.”

NGP Director Andre Turenne will join both companies’ boards of directors.

Founded to help National Grid disrupt and future-proof itself, NGP invests in early and expansion-stage companies from its $300M initial funding allocation. Its focus areas include the Internet of Things, grid modernization, security, cloud, AI, mobility, and analytics, among others. NGP also convenes the NextGrid Alliance, a network of global utility companies that share innovation and investment best practices to solve common problems and benefit customers.

About National Grid plc

National Grid plc (LSE: NG; NYSE: NGG) is one of the largest investor-owned energy companies in the world. National Grid and its affiliates play a vital role in delivering gas and electricity to millions of people across Great Britain and the northeastern U.S. The company is transforming its electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to reduce its greenhouse gas emissions to net zero by 2050. National Grid also is working to accelerate decarbonization through its diverse portfolio of low-carbon and renewable energy businesses.

About National Grid Partners

National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc. NGP invests for strategic and financial impact and leads companywide culture transformation efforts. The organization provides a multi-functional approach to building startups, including innovation (new business creation), incubation, corporate venture capital, business development and culture acceleration. NGP is headquartered in Silicon Valley and has offices in Boston, London, and New York. Visit ngpartners.com or follow us on Twitter (@ngpartners_) and LinkedIn.

Contacts:

Peter Delevett
peter.delevett@nationalgrid.com
+1.408.813.2070 (m)

Source: National Grid Partners

© 2020 Canjex Publishing Ltd. All rights reserved.