National Grid Partners Expands With 6 New Deals and Opens Incubation Office in San Francisco
LOS GATOS, Calif., June 12, 2019 /PRNewswire/ -- National Grid Partners (NGP), the investment and innovation arm of National Grid plc (LSE: NG; NYSE: NGG), announces the addition of 4 new portfolio companies and 2 new strategic fund investments. NGP has invested in Audio Analytic, Carbon Lighthouse, Copperleaf and GoCardless, and has become a limited partner in IQ Capital Fund III LP (an IQ Capital fund) and JVP VIII, L.P. (a Jerusalem Venture Partners fund). With these investments, NGP expands its portfolio to 12 companies with $90 million invested to-date and 3 strategic fund investments at the intersection of energy and information technology – furthering its provocative vision to define a smarter and more renewable energy future. NGP is a multi-stage investor supporting disruptive technology companies at every stage of their growth. Today, NGP opened a new office in San Francisco, which will facilitate collaboration among industry leaders and NGP's early stage portfolio companies. The energy industry is being shaped by trends in decarbonization, decentralization, and digitization. NGP's new location in the heart of San Francisco will allow them to better assist the young companies of today that will meet the complex requirements of tomorrow. "We have been mobilizing and preparing ourselves for what tomorrow's customers will require," said John Pettigrew, Chief Executive, National Grid plc. "By investing and partnering with these innovators, National Grid will stay a step ahead of emerging technology trends to meet our customers' energy needs into the future." Some of the newest additions to NGP's growing portfolio are:
NGP's newest limited partnership relationships with strategic funds are with:
"We are delighted to bring these new investments into our portfolio," said Lisa Lambert, National Grid's Chief Technology and Innovation Officer, and the Founder and President, National Grid Partners. "We are well on our way towards driving a smart and digital energy future for tomorrow's socially-conscious consumer." "We are expanding our relationship with National Grid on both sides of the Atlantic," said Judi Hess, Copperleaf CEO. "Our industry-leading decision analytics solution keeps National Grid ahead of the curve by delivering optimal asset investment strategies and business performance." NGP will continue collaborating with the most cutting-edge companies at the intersection of energy and information technology. NGP previously announced its backing of Aporeto, AutoGrid, ClimaCell, Dragos, Leap, Omnidian, Pixeom, and Sitetracker. NGP is also a limited partner in the strategic utility technology fund Energy Impact Fund LP (an Energy Impact Partners fund). National Grid Partners is the utility industry's first Silicon Valley-based investment and innovation firm. With a venture capital fund aiming to invest $250M over three years and an investment focus in early and growth-stage companies, National Grid plc is disrupting itself and the industry. Together with its team of professionals in Boston, New York, London, Los Gatos, and now San Francisco, NGP intends to make investments annually to drive company and industry-wide innovation. About National Grid plc About National Grid Partners View original content to download multimedia:http://www.prnewswire.com/news-releases/national-grid-partners-expands-with-6-new-deals-and-opens-incubation-office-in-san-francisco-300865874.html SOURCE National Grid Partners |
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