National Grid Partners Closes Three More Deals
Portfolio Grows To 18 Companies in 12 Months
LOS GATOS, CA – October 24, 2019 –National Grid Partners (NGP), the investment and innovation arm of National Grid plc (LSE: NG; NYSE: NGG), announces 3 new venture capital investments, thus growing its portfolio to 18 companies. NGP is investing in CNIGuard, and most recently invested in SparkCognition, and Uniphore, which specialize in the Internet of Things and Artificial Intelligence solutions and enable National Grid to automate customer processes and further secure its assets. NGP has invested $102 million in emerging technology companies and fund investments since its inception and is partnering with these companies to deliver a smarter and more renewable energy future.
NGP’s newest portfolio additions include:
- CNIGuard builds ruggedized internet-of-things (IoT) cloud sensors, delivering asset protection and management solutions for utility-critical infrastructure.
- SparkCognition is an advanced market leading platform that provides artificial intelligence (AI) systems to enable customers to weave AI into the fabric of their organizations.
- Uniphore redefines the customer service experience of the future through AI-enabled Conversational Service Automation.
“We are investing in the technologies that will enable the energy systems of tomorrow,” said Lisa Lambert, National Grid’s Chief Technology and Innovation Officer and the Founder and President of National Grid Partners. “From modernizing our assets, to providing advanced safeguarding and security measures, National Grid is delivering a safer and more seamless energy experience for its customers.”
“National Grid Partners is best-in-class in corporate venturing. They are strong advocates of innovation within the utility sector and have a deep understanding of edge technologies like AI,” said Amir Husain, Founder and CEO of SparkCognition. "They also have the credibility to drive customer engagement for their portfolio companies with industry leaders and the executive relationships within National Grid to effect change and drive meaningful outcomes.”
NGP previously announced its backing ofAporeto,Audio Analytic, AutoGrid,Carbon Lighthouse, ClimaCell,Copperleaf, Dragos,GoCardless, Leap,Omnidian,Pixeom, andSitetracker as well as limited partnership investments in IQ Capital and Jerusalem Venture Partners. NGP is also a limited partner in the strategic utility technology fund,Energy Impact Fund LP (an Energy Impact Partnersfund). Earlier this year, NGP expanded its Silicon Valley presence by opening an office in San Francisco to invest, incubate, and accelerate early-stage technology companies. NGP will invest $250 million over the next few years in early and growth stage startups.
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Notes for editors
About National Grid Partners
National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc. NGP was founded to future proof National Grid’s business and build an entrepreneurial culture and capability. NGP makes and manages strategically and financially attractive investments and leads company-wide disruptive innovation and culture transformation efforts. The organization focuses on innovation, incubation, corporate venture capital, business development, and culture acceleration 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. Visitngpartners.com or follow us on LinkedIn (National Grid Partners) and Twitter (@ngpartners_).
Notes to Editors:
National Grid is pivotal to the energy systems in the UK and the north eastern United States. We aim to serve customers well and efficiently, supporting the communities in which we operate and making possible the energy systems of the future.
National Grid in the UK:
- We own and operate the electricity transmission network in England and Wales, with day-to-day responsibility for balancing supply and demand. We also operate, but do not own, the Scottish networks. Our networks comprise approximately 7,200 kilometres (4,474 miles) of overhead line, 1,500 kilometres (932 miles) of underground cable and 342 substations.
- We own and operate the gas National Transmission System in Great Britain, with day-to-day responsibility for balancing supply and demand. Our network comprises approximately 7,660 kilometres (4,760 miles) of high-pressure pipe and 618 above-ground installations.
- As Great Britain’s System Operator (SO) we make sure gas and electricity is transported safely and efficiently from where it is produced to where it is consumed. From April 2019, Electricity System Operator (ESO) is a new standalone business within National Grid, legally separate from all other parts of the National Grid Group. This will provide the right environment to deliver a balanced and impartial ESO that can realise real benefits for consumers as we transition to a more decentralised, decarbonised electricity system.
- Other UK activities mainly relate to businesses operating in competitive markets outside of our core regulated businesses; including interconnectors, gas metering activities and a liquefied natural gas (LNG) importation terminal – all of which are now part of National Grid Ventures. National Grid Property is responsible for the management, clean-up and disposal of surplus sites in the UK. Most of these are former gas works.
Find out more about the energy challenge and how National Grid is helping find solutions to some of the challenges we face at https://www.nationalgrid.com/group/news
National Grid undertakes no obligation to update any of the information contained in this release, which speaks only as at the date of this release, unless required by law or regulation.