New York-based startup Amperon has announced the end of its US$2mn seed round to develop further smart grid tech solutions.
The company has already created an AI-based platform that allows electricity providers to easily view operational analytics of grid performance in real-time, as well as accurately forecast long-term and short-term supply requirements.
Citing the decline of fossil fuel usage and the increasing potential of renewable energy sources to bolster grid stability, Amperon is committed to giving utility providers dynamic smart tools to enable a digital transformation of the energy sector.
Pioneering the digital grid
In a recent article by Tech Crunch, Abe Stanway, Co-Founder of Amperon, stated his opinion that more tech solutions would need to be developed, particularly for emerging economic strains such as the COVID-19 pandemic.
“We tell them how much electricity their customers are going to use on a short-term and long-term basis,” he said. “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.”
His comments appear to have struck a chord with investors; with firms such as Blackhorn Ventures, Powerhouse Ventures and Intellis Capital providing financial backing, Amperon has secured investors with a strong knowledge of the energy sector’s needs.
Stanway, a veteran data scientist and engineering pioneer, has an impressive resume which includes work at Etsy, McKinsey and Planet labs. Despite this diverse experience, he expertise in the energy sector is apparent: he was included on Forbes’ 30 under 30 for Energy 2020 list
Having leveraged granular data from smart-meter data, Amperson now feels confident in pushing forwards with high-value tech applications and geographical expansion - the company currently operates on the ERCOT (Texas), AEMO (Australia) and PJM (Pennsylvania) grids.