The investment and innovation arm of investor-owned energy company National Grid has expanded by adding 4 new portfolio companies and 2 new strategic fund investments.
The deals expand the portfolio of National Grid Partners to 12 companies. This mean the firm has invested $90 million and 3 strategic fund investments at the intersection of energy and information technology.
The aim is to contribute towards a smarter and more renewable energy future.
In addition, National Grid Partners has opened a new office in San Francisco, which will facilitate collaboration among industry leaders and early stage portfolio companies.
The new office will focus on technologies in the decarbonisation, decentralisation, and digitisation of the energy sector.
National Grid Partners will invest $250 million in new technologies over a period of three years.
John Pettigrew, Chief Executive, National Grid plc, said: “We have been mobilising and preparing ourselves for what tomorrow’s customers will require.
“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.”