Splight, which uses artificial intelligence to enhance the efficiency of power grids, has closed on $12 million in a seed round led by London-based noa (formerly A/O).
U.S. backers of the San Mateo, Calif., startup include Palo Alto, Calif.-based Reaction Global, the UC Berkeley Foundation, and Denver, Colo.-based Ascent Energy Ventures, and a clutch of firms from Europe and Latin America — Portugal’s EDP Ventures, Spain’s Elewit, Valencia’s Draper B1, Argentina’s Draper Cygnus, Chile’s Fen Ventures, and Brazil’s Barn Investments.
Easing Grid Congestion
Using AI, Splight enables advanced grid operations, in particular addressing the key problem of congestion by using inverter-based resources. Its technology significantly reduces so-called “energy curtailment,” or production losses, as well as power lost in transmission.
“Our technology is proven and commercially viable: we are solving grid congestion while adding reliability,” said Splight co-founder and CEO Fernando Llaver, an Argentine who works out of Austin, Texas. “It can be deployed fast enough to inject more than 3,000 GWs of clean energy within months. This (funding) round is a huge vote of confidence and will be used to expand our business globally.”
Grid congestion results from a shortage of transmission capacity, which is itself caused by outdated contingency management methods. Some grids are so behind the curve that up to half their transmission capacity remains unutilized. Splight’s technology can, in some networks, double that capacity.
‘Practical Solution’
Kia Nejad of noa termed energy curtailment as “perhaps the most pressing issue” for the transition to a sustainable energy system. In the circumstances, Splight’s technology offers a practical approach to modernize the energy grid to meet current demands, he added.
Commercial Real Estate
MacKenzie Companies
Advertising / Media / Communications / Public Relations
Nevins & Associates
Financial Services / Investment Firms
Chesapeake Corporate Advisors
Commercial Real Estate
Monday Properties
Venture Capital
Blue Delta Capital Partners
Internet / Technology
Foxtrot Media
By enhancing the efficiency of electric grids, Splight also avoids wastage of clean energy, besides speeding up deployment and connection of renewable energy sources, and integrating distributed energy resources, or DERs, with batteries.
Splight was founded by Llaver, chief technology officer Thomas Vadora and chief product officer Carlos Caldart. The trio’s expertise spans computer science, electrical engineering and energy industry experience. Llaver has multiple degrees in business, including one from MIT’s Sloan School of Management.
Formerly known as A/O, noa says it focuses on what it terms the “built world,” which is more than just physical infrastructure but also “a manifestation of human ingenuity and a reflection of societal values.” Launched in 2019, the London firm closed its first evergreen vehicle with EUR 250 million. It invests in startups as well as in private equity.
