We believe that the future of energy starts right now. As new technologies advance and global trends like decentralisation, democratisation and digitisation take hold, so too will the energy system evolve – and fast. As investors and mentors, we know that it is imperative that we both protect and help advance the energy system of the future. That’s why we are excited to announce innogy Ventures as a new investor and shareholder in eSmart Systems, a provider of AI driven software for the inspection of powerlines, grid maintenance planning and energy flexibility optimization.
The move to new, open and decentralised infrastructures is one of our key focus areas at innogy Innovation Hub in our overall mission to transform the future of energy. eSmart’s AI driven approach for grid asset management and maintenance prolongs usable asset life and increases operational and capital efficiency. Ultimately, this reduces energy waste and contributes significantly to our vision. The partnership is a win-win situation. The funding round lays a solid foundation from which eSmart Systems can accelerate its growth both in American and European markets.
eSmart Systems has already dozens of customers, spanning multiple countries including Norway, Denmark, the UK and the US. The company is also a Microsoft Partner and its CTO, Erik Asberg, has been appointed as a Microsoft Regional Director.
Joining innogy Ventures in the more than 34 million USD growth investment round is Energy Impact Partners (EIP), a US utility-backed investment fund. The round was initially closed by Equinor Energy Ventures, Nysnø Climate Investments and Kongsberg Digital in December 2018.