#United States #San Francisco #electric grid #Splight #Dynamic Congestion

Splight Secures $12.4 Million in Funding to Enhance Electric Grid Capacity

In a significant move to address the mounting demand for electricity from data centers and utilities, Splight, a leading grid technology innovator based in the United States, has announced the successful closure of a $12.4 million funding round. This infusion of capital, led by Blue Bear Capital alongside participation from ZOMA Capital, is aimed at scaling its Dynamic Congestion Management™ (DCM) technology across North America and Europe. With existing assets exceeding 3 gigawatts, Splight's latest venture comes at a time when electric grids globally are strained to meet surging power requirements.

Addressing Urgent Grid Challenges with DCM

Splight focuses on using its advanced machine learning solutions to optimize congested electric grids. According to CEO and co-founder Fernando Llaver, the new funding will allow the company to accelerate the rollout of DCM, enabling grid operators to provide more electricity without enduring the lengthy construction timelines associated with new transmission lines. “Our technology is designed to unlock the capacity of existing infrastructure, an urgent need for grid participants now experiencing unprecedented demand,” Llaver stated.

The DCM technology not only increases transmission capacity but also improves grid reliability by utilizing real-time data from the grid. This capability is particularly crucial as it offers a solution to challenges such as the curtailment of renewable energy sources and lengthy queues for grid interconnections, commonly faced by both generators and large electricity consumers.

Key Initiatives Supported by New Capital

The newly acquired funds will facilitate several critical initiatives for Splight:
1. Accelerating DCM Deployment: Expediting the introduction of Dynamic Congestion Management™ in the U.S. will help alleviate grid congestion caused by the increasing demand for renewable energy.
2. Launching Technical Advancements: Splight is set to introduce AI-Enabled Electrical Studies for Data Centers, modernizing existing processes and aligning them with real-time data analytics to reduce interconnection timelines significantly.
3. Enhancing Algorithmic Capabilities: New DCM™ algorithms will further assist grid participants in adapting to the changing dynamics of electricity demands.
4. DCM™ Sandbox Development: The introduction of a new modeling tool will allow operators to visualize the potential gains from DCM in a simulated grid environment.
5. Real-Time Simulation Features: The new Real-Time Simulation capability will enable engineers to conduct validation testing directly within Splight’s technology platform.
6. Expanded Headquarters: The fundraising will also support a move to a larger office space in San Francisco, thereby increasing the workforce dedicated to technology and product innovation.

The Road Ahead for Splight

Splight’s DCM™ solution is rapidly being adopted across various global regions and regulatory landscapes. Unlike traditional Dynamic Line Rating solutions that rely on external weather factors to assess capacity, DCM™ employs a robust machine learning approach. This allows it to continuously analyze grid conditions, effectively transforming fast-responding assets such as battery storage and data centers into reliable operational resources capable of unlocking substantial additional transmission capacity.

Carolin Funk, a partner at Blue Bear Capital, expressed confidence in Splight’s team and technology. She noted, “Their deep operational knowledge coupled with machine learning expertise creates significant opportunities for enhancing grid reliability.”

Commercially, Splight plans to implement its DCM™ technology to alleviate transmission congestion specifically impacting renewable generators and large energy loads throughout North America and Europe.

About Splight

Splight is headquartered in San Francisco, CA, with additional offices in Texas, Chile, and Spain. Through its innovative approach, Splight aims to maximize the performance of existing grid infrastructures, aligning the transition towards clean energy with timely and efficient interconnections for new energy loads, all while minimizing curtailment. For more information about their initiatives and technology, visit www.splight.com.

Conclusion

As the world faces increasing energy demands, Splight is positioned at the forefront, leveraging advanced technology to reshape how electricity is managed on congested grids. This funding round marks a pivotal point for the expansion of smart and sustainable energy solutions, highlighting Splight's commitment to fostering a more resilient energy future.