Eneryield: Revolutionizing the energy industry with funding from ABB and Chalmers Ventures

The Eneryield team. Image cred: Press photo.

Swedish startup Eneryield, which has created an AI-based grid maintenance solution to reduce unplanned outages, has successfully closed a seed funding round with investments from ABB and Chalmers Ventures.

Eneryield, already part of the Chalmers Ventures portfolio, was spun out in 2019 after a decade of research at Chalmers University of Technology.

The company claims its software, Intelliview, provides a proactive approach to power grid maintenance, shifting operators from reactive to proactive strategies. Intelliview uses machine learning to predict issues and integrates smoothly into existing systems without needing extra hardware like sensors.

Eneryield states that Intelliview is designed to analyze and predict overloads and faults, enabling grid operators to address problems before they disrupt the power supply.

Eneryield and ABB launch advanced grid solutions

In a release, Dr. Ebrahim Balouji, CEO of Eneryield, stated: “With the backing of strategic investors like ABB and Chalmers Ventures, we are poised to bring our solution to market. It is incredibly motivating to see our research transform into a commercial product. The timing is perfect with the rising demand for green energy and the current global economic and security climate. The need for local, smart energy grid solutions is growing rapidly, and we are ready to meet that demand.”

Sami Raitakoski, Global Product Group Manager for Grid Components at ABB’s Electrification Distribution Solution, added: “The synergy between ABB and Eneryield’s portfolios will help create one of the most advanced prediction systems for power networks.”

Integrating Eneryield’s AI analytics with ABB relays and centralized or virtualized protection and control systems will enhance accuracy and optimize maintenance planning for utility and industrial customers. This early warning capability allows grid operators to take preventive measures, avoiding faults and outages, thereby improving grid reliability and reducing operational costs. The financial specifics of the investment round remain undisclosed.

Techarenan News/Monok

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