We are thrilled to add LineVision, a spinout from Genscape, as our latest Clean Energy Ventures portfolio company.
LineVision, Inc. enables utilities to improve transmission line capacity, resilience and safety through advanced technology. Their turnkey, non-contact, systems can be rapidly deployed without the need for outages, live line work, or specialized equipment.
Clean Energy Ventures joins group of investors in LineVision to increase capacity, reliability and safety of transmission assets
SOMERVILLE, MA January 8, 2019 – LineVision, Inc., which enables utilities to improve transmission line capacity, resilience and safety through advanced technology, today announced that it has closed a $2 million Series A round. The lead investor was Clean Energy Ventures.
“With increasing risk from storms and continuing growth of renewable resources on our grid, utilities are looking for technologies to improve the resilience, capacity and flexibility of their transmission lines,” said Hudson Gilmer, CEO of LineVision. “The LineVision team is solving real problems for utilities from unlocking additional capacity on existing lines to monitoring the asset health and risk of aging lines. This funding round demonstrates confidence in the market need for transmission line monitoring and LineVision’s ability to deliver the most effective solution.”
LineVision will use the new capital to scale its operations and supply chain to support the needs of utilities worldwide.
“We invest in companies with disruptive clean energy innovations that demonstrate commercial value and the ability to scale,” said Daniel Goldman, co-founder and managing director at Clean Energy Ventures. “The global climate challenge necessitates safer and more reliable management of existing transmission assets and more capacity to integrate renewables onto the grid. We see LineVision’s non-contact technology as uniquely positioned to meet that need in a way that minimizes the cost and complexity to the utility.”…
Read the official press release
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