National Grid Partners Invests in two Artificial Intelligence Startups to Protect Critical Infrastructure
October 29 2020 - 3:16PM
Business Wire
$6M in Investments Bring Portfolio To 21
Companies and $175M in 24 Months
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.
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Peter Delevett peter.delevett@nationalgrid.com +1.408.813.2070
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