National Grid Partners, the venture capital and innovation arm of National Grid plc, has announced a significant commitment to invest $100 million in artificial intelligence (AI) startups focused on advancing the future of energy. This investment aims to accelerate the development of a more efficient, resilient, and dynamic energy grid, which will support economic growth, reduce customer costs, meet climate goals, and ensure energy security.

Since its inception in 2018, National Grid Partners has already invested over $150 million in 18 AI startups, representing 37% of its portfolio. These investments are strategically aligned with National Grid's objectives to enhance its operations through innovative technologies.

John Pettigrew, CEO of National Grid plc, emphasized the critical role of AI in addressing unprecedented challenges in power systems. These challenges include soaring demand from data centers and the electrification of heat and transport, as well as the need for a more flexible grid to accommodate the rise of renewables and electric vehicles. Pettigrew stated that scaling AI will enable National Grid to provide the most efficient and modern grid for its customers in the U.S. and the U.K.

National Grid Partners, based in Silicon Valley, invests in a wide array of technologies to deliver rapid impact for utilities and the broader energy sector. Over 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 future energy networks. Specific examples of successful deployments include:

Steve Smith, President of National Grid Partners and Chief Strategy and Regulation Officer at National Grid, highlighted that AI is enabling operational improvements and efficiencies previously unattainable with legacy technologies. He noted that their AI-powered portfolio is accelerating construction timelines and boosting transmission line capacity. With the NextGrid Alliance, comprising over 120 global utilities, these innovations are being rapidly disseminated across the industry.

The new $100 million commitment will further accelerate AI deployments, building a more robust and intelligent grid while ensuring that AI delivers far more value than the energy it consumes.

National Grid Partners aims to accelerate the energy transition and help new technologies reach critical scale faster through corporate venture capital, business development counsel, and direct integration with National Grid's innovation teams. The NextGrid Alliance (www.ngalliance.energy) is a network of senior innovation executives from over 120 worldwide utility companies focused on harnessing the industry's latest technologies.