Splight Inc. Raises $12M Seed Funding to Address Energy Curtailment

 


Splight, a pioneering AI startup in grid operations technologies, has officially announced the successful completion of its seed funding round. The $12M investment was spearheaded by noa (formerly A/O) and supported by EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, and the UC Berkeley Foundation, among others.


This financial boost will aid Splight in its mission to tackle the global challenge of clean energy on a large scale, expanding its presence in North America and the EU. It will also help the company in growing its development, implementation, and leadership teams to meet the increasing demand.


Grid congestion, also known as grid bottlenecks, is a critical issue caused by outdated contingency management methods that result in underutilized transmission capacity. This leads to significant waste of renewable energy generation and delays in connecting renewable energy projects to the grid.


As electrification continues to rise across various industries, efficient grid operations and renewable energy supply are crucial to meet the growing demand. While renewable energy power plants, Distributed Energy Resources (DERs), and batteries are on the rise, the industry has lacked the technology to manage them effectively at scale.


Splight's innovative AI-based technology for advanced grid operations addresses congestion by utilizing inverter-based resources (IBRs) for reliability. This approach reduces curtailment, speeds up the connection of utility-scale renewable power plants, and facilitates the deployment of DERs and batteries. By leveraging real-time data and algorithms, Splight's technology optimizes the use of IBRs as grid-friendly assets.


Through Splight's technology, up to 2x additional transmission capacity can be unlocked in real-time, allowing terawatts of clean energy to be integrated into the grid while enhancing reliability. This solution offers a win-win scenario without any tradeoffs.


More Information : https://www.techdogs.com/tech-news/pr-newswire/splight-inc-secures-12m-in-seed-funding-to-tackle-the-energy-industrys-biggest-problem-energy-curtailment

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