LOS GATOS, Calif., June 12, 2019 /PRNewswire/ -- National Grid
Partners (NGP), the investment and innovation arm of National Grid
plc (LSE: NG; NYSE: NGG), announces the addition of 4 new portfolio
companies and 2 new strategic fund investments. NGP has invested in
Audio Analytic, Carbon Lighthouse, Copperleaf and GoCardless, and
has become a limited partner in IQ Capital Fund III LP (an IQ
Capital fund) and JVP VIII, L.P. (a Jerusalem Venture Partners
fund). With these investments, NGP expands its portfolio to 12
companies with $90 million invested
to-date and 3 strategic fund investments at the intersection of
energy and information technology – furthering its provocative
vision to define a smarter and more renewable energy future.
NGP is a multi-stage investor supporting disruptive technology
companies at every stage of their growth. Today, NGP opened a new
office in San Francisco, which
will facilitate collaboration among industry leaders and NGP's
early stage portfolio companies. The energy industry is being
shaped by trends in decarbonization, decentralization, and
digitization. NGP's new location in the heart of San Francisco will allow them to better assist
the young companies of today that will meet the complex
requirements of tomorrow.
"We have been mobilizing and preparing ourselves for what
tomorrow's customers will require," said John Pettigrew, Chief Executive, National Grid
plc. "By investing and partnering with these innovators, National
Grid will stay a step ahead of emerging technology trends to meet
our customers' energy needs into the future."
Some of the newest additions to NGP's growing portfolio are:
- Audio Analytic, a revolutionary sound recognition technology
that brings contextual artificial intelligence (AI) to consumer
technology for a better customer experience.
- Carbon Lighthouse, an environmentally focused business that
makes it profitable for commercial and industrial buildings to
reduce their emissions and increase efficiency.
- Copperleaf, the next generation asset management planning and
decision analytics system designed for utilities and other
asset-intensive companies.
- GoCardless, a cloud-based disruptive payments service provider.
They are the world leader in providing a bank-independent online
platform for frictionless direct debit and recurring payments for
improved customer service.
NGP's newest limited partnership relationships with strategic
funds are with:
- IQ Capital, a Cambridge-based venture capital firm that invests
in UK 'deep-tech' across sectors including machine learning, AI,
engineering and materials, and data focused propositions based on
disruptive algorithms.
- Jerusalem Venture Partners, one of the leading venture capital
firms in Israel, a global hub for
technology & innovation, offers NGP broad access to the Israeli
technology sector.
"We are delighted to bring these new investments into our
portfolio," said Lisa Lambert,
National Grid's Chief Technology and Innovation Officer, and the
Founder and President, National Grid Partners. "We are well on
our way towards driving a smart and digital energy future for
tomorrow's socially-conscious consumer."
"We are expanding our relationship with National Grid on both
sides of the Atlantic," said Judi Hess, Copperleaf CEO.
"Our industry-leading decision analytics solution keeps National
Grid ahead of the curve by delivering optimal asset investment
strategies and business performance."
NGP will continue collaborating with the most cutting-edge
companies at the intersection of energy and information technology.
NGP previously announced its backing of Aporeto, AutoGrid,
ClimaCell, Dragos, Leap, Omnidian, Pixeom, and Sitetracker. NGP is
also a limited partner in the strategic utility technology
fund Energy Impact Fund LP (an Energy Impact Partners
fund).
National Grid Partners is the utility industry's first Silicon
Valley-based investment and innovation firm. With a venture capital
fund aiming to invest $250M over
three years and an investment focus in early and growth-stage
companies, National Grid plc is disrupting itself and the industry.
Together with its team of professionals in Boston, New
York, London, Los Gatos, and now San Francisco, NGP intends to make investments
annually to drive company and industry-wide innovation.
About National Grid plc
National Grid plc (LSE: NG;
NYSE: NGG) is an international electricity and gas company and one
of the largest investor-owned energy companies in the world. We
play a vital role in delivering gas and electricity to many
millions of people across Great
Britain and the northeastern U.S. in an efficient, reliable
and safe manner.
About National Grid Partners
National Grid Partners
(NGP) is the venture investment and innovation arm of National Grid
plc. NGP makes and manages strategically and financially attractive
investments and leads company-wide disruptive innovation efforts.
The organization focuses on innovation, incubation, corporate
venture capital, and business development, providing a
multi-functional approach to change the status quo. NGP is
headquartered in Silicon Valley with offices in Los Gatos and San
Francisco, and is also located in Boston, London, and New
York. Visit ngpartners.com or follow us on LinkedIn
(National Grid Partners) and Twitter (@ngpartners).
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SOURCE National Grid Partners