NewGrid develops topology optimization software that provides decision support for electric power transmission system operators, enabling them to monitor and mitigate grid congestion. This technology increases transfer capability, reduces congestion costs by up to 50%, and enhances grid reliability in an unpredictable energy landscape.
Funding
$470K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Electric power transmission systems face increasing congestion due to unpredictable energy sources and aging infrastructure, leading to higher costs and reduced grid reliability. Traditional methods for managing grid congestion are often static and unable to adapt to rapidly changing conditions. This results in underutilized transmission capacity and increased risk of outages.
Solution
NewGrid offers topology optimization software that provides real-time decision support for electric power transmission system operators, enabling them to monitor and mitigate grid congestion. The NewGrid Router software analyzes grid conditions and identifies optimal switching actions to increase transfer capability and reduce congestion costs. By providing operators with insights into grid flexibility, NewGrid helps improve grid resilience and reliability in an increasingly dynamic energy landscape. The software allows operators to proactively avoid bottlenecks and maximize the use of existing infrastructure.
Target Audience
The primary customers are electric power transmission system operators responsible for managing grid congestion and ensuring reliable power delivery.
Features
- Real-time congestion monitoring and visualization
- Topology optimization algorithms to identify optimal switching actions
- Decision support tools for operators to implement switching strategies
- Analysis of grid conditions to increase transfer capability
- Reduction of congestion costs by up to 50%
- Improvement of grid reliability and resilience
- Identification of opportunities to reduce wind curtailment