National Grid Partners Pledges $100 Million for AI Energy Startups to Revolutionize Grid Technology

National Grid Partners pledges $100M for AI energy startups

National Grid Partners (NGP), the venture capital and innovation division of National Grid plc, has announced a $100 million investment commitment to artificial intelligence (AI) startups focused on advancing the energy sector. The funding aims to support the development of a more efficient, resilient, and dynamic energy grid. The investment is driven by the increasing challenges faced by power systems like National Grid's, including soaring demand from datacenters and the electrification of heating and transport, along with the need for greater grid flexibility due to the growth of renewable energy sources and electric vehicles (EVs). NGP says that AI can help. As part of this commitment, NGP announced its latest investment in Amperon, a provider of AI-powered energy forecasting and analytics solutions. Since its founding in 2018, NGP has invested over $150 million in 18 AI startups focused on energy innovations, representing 37% of its portfolio. hireEZ and Talroo partner to streamline frontline and skilled trades hiring NGP, which claims to be the utility industry's only Silicon Valley-based corporate venture group, highlighted several examples of how its portfolio companies are strategically engaged with National Grid business units: NGP also convenes the NextGrid Alliance, a network of over 120 global utility companies focused on adopting new technologies.

Amperon Secures Strategic Investment from National Grid Partners to Accelerate AI-powered Energy Forecasting Solutions - National Grid (NYSE:NGG)

HOUSTON, March 12, 2025 /PRNewswire/ -- Amperon, a leading provider of AI-powered energy forecasting and analytics solutions, today announced a strategic investment from National Grid Partners, the venture investment and innovation arm of National Grid NGG. This investment will further accelerate Amperon's commercial expansion across North America and Europe, enhancing its ability to provide best-in-class AI-powered energy forecasting and market analytics to utilities, independent power producers, and energy market participants. The investment from National Grid Partners underscores the growing demand for advanced AI-driven solutions that help utilities and energy companies navigate the complexities of modern energy markets. With increasing volatility in power markets and the transition to a more distributed and decarbonized grid, Amperon's platform helps its customers improve grid reliability, manage financial risk, and optimize renewables. "National Grid Partners offers a wealth of strategic value as an investor," said Sean Kelly, CEO and Co-Founder of Amperon. "Their deep industry expertise and commitment to innovation make them an ideal partner as we continue scaling our operations and expanding our footprint in key energy markets. This investment allows us to accelerate our commercial reach, particularly in the UK, where grid modernization and resilience are at the forefront of the energy transition." National Grid owns and operates the high voltage electricity transmission network in England and Wales as well as the UK's largest electricity distribution network. It also serves more than 20 million people in New York and Massachusetts. In June 2024, Amperon expanded into 15 European countries, solidifying its position as a leading provider of energy forecasts. The company's AI-powered forecasting models have outperformed many incumbents in accuracy, most notably in France, Germany, Spain, Ireland, and the UK, enabling market participants to optimize energy strategies and enhance grid stability. With advanced machine-learning capabilities, improved physics-based modeling, and new weather ensemble features, Amperon continues to invest and improve its accuracy, with an average 10% improvement in accuracy over the last six months. "As the energy landscape becomes more complex and dynamic, the need for accurate, real-time data and predictive insights has never been more critical," said Raghuram Madabushi, Investment Director at National Grid Partners. "Amperon's AI-driven approach to forecasting is a perfect fit with our vision for a smarter, more resilient grid - and this marks the inaugural investment from our new, $100 million commitment to AI solutions advancing our energy system. We believe Amperon will play a vital role in scaling innovation across utilities, and we see significant potential for their AI-powered solutions to enhance grid operations in both the US and UK." Amperon has established itself as a trusted partner for energy retailers, utilities, and independent power producers, such as Ørsted, Axpo, AES, and Rhythm Energy, delivering AI-powered forecasts that enable real-time, data-driven decision-making. By providing precise insights, Amperon helps its customers manage resources more effectively and stay ahead in a rapidly evolving energy landscape. Now, with the support of National Grid and National Grid Partners, Amperon will further enhance its product offerings, expand its UK presence, and solidify its position as the go-to platform for energy forecasting services. About Amperon Amperon is the leading energy forecasting company, positioned at the intersection of energy data and AI. Founded in 2018, Amperon has become a trusted partner to power and utility companies, delivering demand, renewable generation, and price forecasts. With cutting-edge predictive analytics, seamless data integrations, and premium customer support, Amperon enables customers to enhance grid reliability and optimize asset performance. Committed to grid modernization, Amperon is the forecasting company of the energy transition. For more information about Amperon, visit www.amperon.co. About National Grid Partners National Grid Partners is the venture investment and innovation arm of National Grid plc., one of the world's largest investor-owned energy companies. By providing corporate venture capital, business development counsel and direct integration with National Grid's innovation teams, National Grid Partners is accelerating the energy transition and helping new technologies reach critical scale faster. We also convene the NextGrid Alliance (www.ngalliance.energy), a network of senior innovation executives from more than 120 worldwide utility companies focused on harnessing the industry's latest technologies. Headquartered in Silicon Valley, National Grid Partners has offices in Boston, London, and New York. Visit ngpartners.com or follow us on X and LinkedIn. View original content to download multimedia:https://www.prnewswire.com/news-releases/amperon-secures-strategic-investment-from-national-grid-partners-to-accelerate-ai-powered-energy-forecasting-solutions-302399321.html SOURCE Amperon NGGNational Grid PLC$61.64-0.98%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum32.81Growth-Quality15.57Value65.32Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

National Grid Partners commits $100 million to invest in AI startups advancing the future of energy

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter Corporate venture leader has invested $150 million in 18 AI companies to date; new commitment will accelerate investments to improve efficiency, reduce emissions and strengthen the energy grid MENLO PARK, Calif., March 12, 2025 /PRNewswire/ -- National Grid Partners, the corporate venture capital and innovation arm of one of the world's largest utilities, today announced a commitment to invest $100 million in artificial intelligence (AI) startups that are advancing the future of energy. The funds will accelerate development of a more efficient, resilient and dynamic grid that supports economic growth, reduces customer costs, helps meet climate goals and ensures energy security. This $100M will build a more robust, intelligent grid and ensure AI delivers far more value than the energy it consumes. As part of this commitment, National Grid Partners is also announcing its latest investment in Amperon, a leading provider of AI-powered energy forecasting and analytics solutions. Amperon's technology helps utilities manage demand and ensure grid reliability. Since its founding in 2018, National Grid Partners has invested more than $150 million in 18 AI startups focusing on energy innovations, amounting to 37% of its portfolio. "Power systems like National Grid's are seeing unprecedented challenges, with soaring demand driven by datacenters and the electrification of heat and transport, as well as requirements for a more flexible grid with the rise of renewables and EVs," said John Pettigrew, CEO of National Grid plc. "We are seeing artificial intelligence play a vital role resolving these issues and delivering compelling results across our operations. Scaling AI will continue to help National Grid provide the most efficient, modern grid available for our millions of customers in the U.S. and U.K." National Grid Partners - the utility industry's only Silicon Valley based corporate venture group - invests in a wide array of technologies to deliver rapid impact for utilities and the broader energy sector. More than 80% of its portfolio companies are strategically engaged with National Grid business units to streamline operations, boost safety and reliability, improve customer service and speed the development of tomorrow's energy networks. Examples include: AiDASH unites satellite data with proprietary AI to help utilities monitor infrastructure networks in real time. By rapidly identifying potentially hazardous trees near power lines and prioritizing them for removal, National Grid has seen outages drop by 30% since deploying AiDASH in Massachusetts. Exodigo uses AI and advanced sensors to "see" underground, avoiding costly missteps when expanding energy infrastructure. In New York, National Grid has deployed Exodigo to accelerate electric substation and transmission line expansion by discovering and avoiding buried obstacles. Luminance develops legal-grade AI to automate and augment every touchpoint a business has with its contracts. National Grid uses its platform to streamline negotiation and analysis of contracts and other legal documents critical to accelerating the deployment of clean energy and smart grid assets. Sensat uses AI to help owners of critical infrastructure visualize and collaborate via digital twins, resulting in faster project completion and lowered costs. National Grid has deployed Sensat in the UK to speed substation upgrades and connect data centers to the grid; this has resulted in fewer contractor errors, increased worker safety and weeks pared from the traditional surveying process. Urbint develops an AI-based risk management platform to predict threats to critical infrastructure and worker safety. National Grid has deployed Urbint's solution to reduce costly and dangerous pipeline damage from third-party excavation. Urbint also helped National Grid identify 35% more potential field-worker hazards than manual methods, boosting employee safety across the utility's U.S. service territory. "AI is helping us improve operations and achieve efficiencies we never could with legacy technologies," said Steve Smith, President of National Grid Partners and Chief Strategy and Regulation Officer at National Grid. "Our AI-powered portfolio is doing everything from accelerating critical construction timelines to boosting transmission line capacity for National Grid. And with more than 120 other global utilities in our NextGrid Alliance, we're speeding these innovations across the industry. "This $100 million commitment will help National Grid accelerate AI deployments to build a more robust and intelligent grid," Smith added, "while ensuring that AI delivers far more value than the energy it consumes." About National Grid Partners National Grid Partners is the venture investment and innovation arm of National Grid plc., one of the world's largest investor-owned energy companies. By providing corporate venture capital, business development counsel and direct integration with National Grid's innovation teams, National Grid Partners is accelerating the energy transition and helping new technologies reach critical scale faster. We also convene the NextGrid Alliance (www.ngalliance.energy), a network of senior innovation executives from more than 120 worldwide utility companies focused on harnessing the industry's latest technologies. Headquartered in Silicon Valley, National Grid Partners has offices in Boston, London, and New York. Visit ngpartners.com or follow us on Twitter and LinkedIn. View original content to download multimedia:https://www.prnewswire.com/news-releases/national-grid-partners-commits-100-million-to-invest-in-ai-startups-advancing-the-future-of-energy-302399932.html SOURCE National Grid Market News and Data brought to you by Benzinga APIs