National Grid plans to invest $100m in AI start-ups that are advancing the future of energy.

The British multinational electricity and gas utility, through its corporate venture capital and innovation arm National Grid Partners, hopes the funds will accelerate development of a more efficient, resilient and dynamic grid that supports economic growth, reduces customer costs, helps meet climate goals and ensures energy security.

As part of this commitment, it is also announcing its latest investment in Amperon (www.amperon.co), a provider of AI-powered energy forecasting and analytics. Amperon’s technology helps utilities manage demand and ensure grid reliability.

Since its founding in 2018, National Grid Partners has invested more than $150m in 18 AI start-ups focusing on energy innovations, amounting to 37% of its portfolio.

“Power systems like National Grid’s are seeing unprecedented challenges, with soaring demand driven by data centres and the electrification of heat and transport, as well as requirements for a more flexible grid with the rise of renewables and EVs,” said John Pettigrew, CEO of National Grid. “We are seeing artificial intelligence play a vital role resolving these issues and delivering compelling results across our operations. Scaling AI will continue to help National Grid provide the most efficient, modern grid available for our millions of customers in the USA and UK.”

National Grid Partners – the utility industry’s only Silicon Valley-based corporate venture group – invests in a wide array of technologies to deliver impact for utilities and the broader energy sector. More than 80% of its portfolio companies are engaged with National Grid business units to streamline operations, boost safety and reliability, improve customer service, and speed the development of energy networks.

“AI is helping us improve operations and achieve efficiencies we never could with legacy technologies,” said Steve Smith, president of National Grid Partners. “Our AI-powered portfolio is doing everything from accelerating critical construction timelines to boosting transmission line capacity for National Grid. And with more than 120 other global utilities in our NextGrid Alliance, we’re speeding these innovations across the industry. This $100m commitment will help National Grid accelerate AI deployments to build a more robust and intelligent grid, while ensuring that AI delivers far more value than the energy it consumes.”

National Grid Partners (ngpartners.com) is the venture investment and innovation arm of National Grid. By providing corporate venture capital, business development counsel and direct integration with National Grid’s innovation teams, National Grid Partners is accelerating the energy transition and helping new technologies reach critical scale faster.

It also convenes the NextGrid Alliance (www.ngalliance.energy), a network of senior innovation executives from more than 120 worldwide utility companies focused on harnessing the industry’s latest technologies.

Headquartered in Silicon Valley, National Grid Partners has offices in Boston, London and New York.