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

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:

"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:https://www.prnewswire.co.uk/news-releases/national-grid-partners-commits-100-million-to-invest-in-ai-startups-advancing-the-future-of-energy-302399942.html