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HomeRenewablesAINational Grid’s investment arm injects $17m into climate innovation

National Grid’s investment arm injects $17m into climate innovation

National Grid Partners (NGP), the venture investment and innovation arm of National Grid, has announced three investments totalling $17 million (£13.5m).

These investments aim to support net zero and climate technology innovation, bringing NGP’s total investments to 50, surpassing $450 million (£359m) since its inception in 2018.

The latest investments focus on key areas of the clean energy transition – Captura, headquartered in Pasadena, California, specialises in large scale direct ocean carbon capture technology.

Luminance, based in London, UK, provides legal AI systems for contract negotiation and analysis crucial for clean energy and smart grid asset development.

Transcend, located in Princeton, New Jersey, offers a generative design SaaS platform for sustainable critical infrastructure engineering.

NGP’s investment portfolio covers various sectors, including AI, electric vehicle charging systems and clean hydrogen technology.

Recent investments such as Exodigo and AiDash reflect NGP’s commitment to diverse sectors driving the clean energy transition.

Steve Smith, President of NGP said: “Climate change is the challenge of our generation, and these milestones mark notable progress advancing the innovators who can help National Grid (and other utilities through our NextGrid Alliance) meet critical environmental and financial goals.”

Energy Live News
Energy Live News
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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