Splight, a U.S.-based grid technology company deploying machine-learning solutions that unlock capacity on congested electric grids, has officially raised a sum of $12.4 million in a SAFE funding round.
According to certain reports, the stated round was led by Blue Bear Capital, with further participation from ZOMA Capital. More on the given deal would reveal how these newly-raised funds will support Splight’s continued expansion in North America and Europe.
This drive is likely to transpire bearing a particular focus on scaling the company’s commercial and technical teams in the face of growing demand for power from electric grids across the globe.
“Our technology solves one of the most urgent problems facing the grid today: how to deliver more electricity without waiting years for new transmission to be built,” said Fernando Llaver, CEO and co-founder of Splight. “This new capital allows us to scale deployments of our flagship Dynamic Congestion Management™ product.”
Talk about the same on a slightly deeper level, we begin from Splight’s plans to accelerate the deployment of its Dynamic Congestion Management™ (DCM) technology in the U.S., where grid congestion and decades-long transmission construction timelines are causing curtailment of renewable energy resources and multi-year grid interconnection queues for new generation and large loads alike.
Next up, Splight will look to launch AI-enabled electrical studies for data centers. This translates to a brand-new approach towards electrical studies. The idea here is to flip antiquated process for a more modern, 21st century counterpart.
Not just that, the given capabilities will also conceive new capabilities based on real-time data to shorten data center interconnection timelines.
Another detail worth a mention is rooted in the introduction of enhanced DCM™ algorithms. These capabilities will tread up a long distance to help grid participants navigate the evolving requirements for integrating new large loads.
Joining that would be the launch of enhanced DCM sandbox, which happens to be a new modeling tool capable of streamlining the visualization of potential DCM-enabled transmission gains in a virtual grid environment, This will include a demo control center in Splight’s expanded SF office.
Apart from it, there is a solution focused on the prospect of real-time simulation, which is geared towards solution validation to let engineers conduct Hardware-in-the-Loop testing directly in the Splight Technology platform.
Rounding up highlights would be piece of detail revealing Splight’s focus on expanding the footprint of its headquarters in San Francisco. The said expansion involves relocating to a new office space along the Embarcadero, as well sd growing the headcount of its Bay Area-based technology and product teams.
Among other things, it ought to be acknowledged that Splight’s DCM technology takes a departure from Dynamic Line Rating (DLR) solutions that are unable to orchestrate no more than a limited increase in capacity. You see, this new technology brings forth an entirely new layer of grid reliability by ingesting real-time grid data and using a proprietary machine-learning algorithm to turn every Fast-Responding Asset (FRA) on the grid into a source of added robustness for the system.
Hence, with Splight’s DCM™ technology, FRAs, such as battery storage and data centers, can very well prop up themselves to become operational tools, well-equipped to reliably respond against varying grid conditions, while simultaneously unlocking up to 100% more transmission capacity, rather consistently, on existing infrastructure (dependent on system characteristics).
On top it, it can also be deployed by utilities to provide extra transmission capacity or to increase operational reliability across their systems, or by individual renewable power plants or large loads that are constrained by their inability to access transmission,
In that respect, the new capital will support Splight’s go-to-market strategy for its DCM™ technology to alleviate transmission congestion for both renewable generators and large loads in specific nodes across North America.
“From the moment we met the Splight team, we were impressed with the team’s deep operational knowledge of the grid and their machine learning expertise,” said Carolin Funk, partner at Blue Bear Capital. “That unique background and their proven track-record of global deployments provide operators of critical energy infrastructure with the confidence to deploy Splight’s cutting-edge technology across grid assets that form the backbone of our economies and societies.”
