Clean Energy Ventures joins group of investors in LineVision to increase capacity, reliability and safety of transmission assets
LineVision, a new company that enables utilities to improve transmission line capacity, resilience and safety through advanced technology, announced that it closed a $2 million Series A round with lead investor Clean Energy Ventures. In addition to Clean Energy Ventures, this investment round included serial clean energy entrepreneur David Brewster, former president and co-founder of EnerNOC, which was acquired by Enel in 2017.
LineVision provides what it says is the industry’s only non-contact transmission line monitoring solution, known at the V3 System. Each V3 monitor contains an EMF sensor for collecting real-time data on the line’s electrical properties and an optical sensor that tracks conductor position, according to the company’s website. LineVision says that its flexible non-contact system can be mounted on the tower structure, eliminating the need for costly specialized equipment or difficult to obtain outages.
The company, which spun out of Genscape last summer, said it will use the funding to scale its operations and supply chain to support the needs of utilities worldwide.
“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.
“Transmission lines are the arteries of our electric power system,” said Brewster. “LineVision is helping utilities upgrade the performance of the grid by monitoring these vital lines and enabling greater capacity, reliability and safety.”
LineVision raised $1 million from a Series A in June 2018 when the company spun out from Genscape, a leading global provider of near-real-time data and intelligence for commodity and energy markets. This additional $1 million raise closes the firm’s Series A offering.
In late 2018, as part of its efforts to scale its operations, LineVision moved to Greentown Labs, the largest cleantech incubator in the United States with a network of industry partners including General Electric and National Grid.