INSUBCONTINENT EXCLUSIVE:
Energy demand has fallen globally
Oil prices are plummeting
Everywhere in the energy world things look fairly grim, but keeping the lights on and electrons moving remains critical to keeping even the
hobbled economies of the world humming.
That why startups like Amperon, which use data analysis to provide predictive tools for energy
retailers and grid operators, are still relevant — and still raising money.
The company raised $2 million in a round that closed in
February before the pandemic hit United States shores
And the service, according to co-founder Abe Stanway, is still vital.
We tell them how much electricity their customers are going to use on
a short-term and long-term basis,& Stanway said of the company service
&When these exogenous shocks and black swan events occur we get much more valuable because you need this machine learning in order to
understand how the grid is going to behave.
The value proposition was clear to investors like Blackhorn Ventures, which led the round, and
other backers, including Garuda Ventures, Intelis Capital, Powerhouse Ventures, SK Ventures and V1.VC.
Amperon builds real-time operational
grid intelligence tools via smart meters and AI for utilities, energy retailers, grid operators and institutional traders,& said Emily
Kirsch, Powerhouse founder and chief executive
&Amperon iterative demand forecasting is able to account for never-before-seen grid volatility resulting from a global pandemic, climate
disasters or an increasingly complex grid.
Amperon is working with four major geographies, including Australia two major grid regions and
the ERCOT regional transmission organization responsible for Texas, and PJM, which manages the mid-Atlantic electricity grid.
Stanway said
the new money would be used to expand the company reach across more grid operators in the United States
While Amperon technology is
incredibly useful for utilities and grid operators during times of crisis, it can help save money in normal times too
Long-term utility planners typically over-budget their energy needs by 1% every year, which adds up to billions of dollars spent on
unnecessary additional generation capacity, according to Amperon.
Lower spending means reduced electricity prices for consumers
Another issue that Amperon says it can help energy providers address is the increasing complexity of grid management
Renewable energy generation adds variability to the grid that utilities and grid operators have yet to effectively manage, the company
