ABB Electrification supports GridBeyond’s AI Energy Solution
According to the UN, energy consumption is responsible for 60% of global greenhouse gas emissions – making it a major driver of climate change.
ABB Electrification, a world-leading technology company, is championing the shift to clean energy worldwide. Through partnerships and collaboration spanning 100 countries, the firm is tackling the most pressing issues in electrical distribution and energy management. The company’s focus is on enhancing energy efficiency, curbing emissions and advancing decarbonisation efforts on a global scale.
ABB Electrification Ventures, ABB's venture capital arm, has poured approximately US$400m into cutting-edge tech companies since it was founded in 2009. Their latest bet? GridBeyond.
Stuart Thompson, President of ABB Electrification Service, emphasises their commitment to innovation, saying, “Our investment in GridBeyond reflects our commitment to driving technological innovations and creating an ecosystem of partners to enable customers’ energy transition to net zero.
“We are helping to transform the way industries generate, distribute and consume energy. We greatly look forward to working with GridBeyond’s team of experts to help drive their next phase of growth.”
Empowering energy solutions with GridBeyond
GridBeyond, a key player in the energy management arena, tackles the challenge of integrating renewables into the grid with a three-pronged strategy: technology, consultation and expertise.
Utilising advanced AI, GridBeyond orchestrates energy generation, storage and industrial loads, bridging the gap between distributed energy resources and grid requirements.
The other companies investing in GridBeyond are:
- EDP
- ESB
- TotalEnergies
- Act
- DublinBIC
Michael Phelan, CEO and Co-Founder of GridBeyond, expresses his excitement, saying, “We are delighted to complete this transaction. This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space.
“Increasing the reach of our intelligent energy platform to deliver world-class AI and powerful automation capabilities to smart grid and energy markets, supports our ambition to advance the transition of the global energy networks towards digitalisation, decarbonisation and decentralisation.”
The collaboration between ABB and GridBeyond isn't just about financial gain. It's about propelling the world towards digitalisation, decarbonisation and decentralisation in the energy sector.
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