Swedish startups grid maintenance solution secures ABB funding
Summary
Swedish startup Eneryield, which has developed an AI-based grid maintenance solution to help operators reduce unplanned outages, has successfully closed a seed funding round with investment from ABB and Chalmers Ventures. The software, dubbed Intelliview, uses machine learning prediction technology integrated into existing systems to reduce unplanned outages. Eneryield adds that the technology is designed to analyse and predict overloads and faults, helping grid operators resolve the problem without disrupting the power supply. Our timing is perfect with the growing demand for green energy and the world’s economic and security situation; the need for local, smart energy grid solutions is growing rapidly, and we are ready to meet that demand.” Added Sami Raitakoski, grid components global product group manager from ABB’s Electrification Distribution Solution: “The portfolio synergies between ABB and Eneryield will help create one of the most advanced prediction systems for power networks. “Combining Eneryield’s AI analytics with ABB relays and centralised or virtualised protection and control systems will result in improved accuracy and better maintenance planning for utility and industry customers.