Energy and home services company NRG Energy Inc. has invested $2.5 million in Equilibrium Energy, an energy technology platform that leverages AI to enhance energy portfolio optimization capabilities.
“With this investment, NRG aims to gain market intelligence and explore solutions to address grid volatility created by load growth, intermittent renewable generation, and extreme weather events”, NRG said in a media release.
“We are always looking to support innovative technologies that strengthen the energy landscape”, Robert J. Gaudette, Executive Vice President, and President of NRG Business and Wholesale Operations at NRG, said. “Equilibrium’s AI-driven platform offers a differentiated approach to managing volatility and balancing risk, and we are excited to invest in their vision and collaborate with their team”.
The funding is provided by NRG’s corporate venture capital fund, which aims to generate strategic opportunities that are in line with the company’s long-term goals, NRG said. The $50 million fund is set to invest over the next 5 to 7 years, focusing on early- and mid-stage companies, it said.
Initial investments are set at $0.5 million to $2.5 million, and the fund will keep reserves available for subsequent investments, according to NRG. Cerity Partners Ventures, a company that focuses on corporate venture capital, will assist NRG in managing the fund.
NRG added that its venture capital fund will establish a fresh path for a structured interaction with entrepreneurs, technologies, and business models that are influencing the energy and smart home sectors. By means of its equity investments, the fund will foster innovation and pinpoint opportunities that improve NRG’s capacity to adjust and excel in a swiftly changing environment, the company said.
To contact the author, email andreson.n.paul@gmail.com
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
element
var scriptTag = document.createElement(‘script’);
scriptTag.src = url;
scriptTag.async = true;
scriptTag.onload = implementationCode;
scriptTag.onreadystatechange = implementationCode;
location.appendChild(scriptTag);
};
var div = document.getElementById(‘rigzonelogo’);
div.innerHTML += ” +
‘‘ +
”;
var initJobSearch = function () {
//console.log(“call back”);
}
var addMetaPixel = function () {
if (-1 > -1 || -1 > -1) {
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
} else if (0 > -1 && 77 > -1)
{
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
}
}
// function gtmFunctionForLayout()
// {
//loadJS(” initJobSearch, document.body);
//}
// window.onload = (e => {
// setTimeout(
// function () {
// document.addEventListener(“DOMContentLoaded”, function () {
// // Select all anchor elements with class ‘ui-tabs-anchor’
// const anchors = document.querySelectorAll(‘a .ui-tabs-anchor’);
// // Loop through each anchor and remove the role attribute if it is set to “presentation”
// anchors.forEach(anchor => {
// if (anchor.getAttribute(‘role’) === ‘presentation’) {
// anchor.removeAttribute(‘role’);
// }
// });
// });
// }
// , 200);
//});
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.