National Grid Partners is the corporate venture and innovation arm of National Grid that invests in technologies to accelerate the clean energy transition.
National Grid Partners is the venture investment and innovation arm of National Grid plc, one of the world’s largest investor owned energy companies. Founded in 2018, NGP is headquartered in Silicon Valley, with team members based in Boston, New York and London. Its mission is to accelerate the energy transition by investing in and supporting start-ups at the intersection of energy and emerging technologies.
Created to help National Grid disrupt itself from within, NGP focuses on transforming the future of energy by incubating start-ups, launching new businesses, driving strategic business development and fostering an entrepreneurial culture across the organisation. The group is committed to building a smarter, more renewable and resilient energy future, using innovation to advance grid modernisation, decarbonisation and customer focused solutions.
Mission
National Grid Partners’ mission is to accelerate the global transition to a cleaner, smarter, and more resilient energy system by investing in and supporting transformative technologies and business models. The group seeks to address the most pressing challenges facing the energy sector, including decarbonisation, grid modernisation, and the integration of renewable energy, by partnering with innovators whose solutions deliver measurable impact for customers and communities. National Grid Partners is committed to responsible investment practices, delivering strategic and financial value, and driving the adoption of technologies that create tangible benefits such as lower costs, improved efficiency, and enhanced performance.
Goals
National Grid Partners aims to:
Values
National Grid Partners’ core values are rooted in innovation, collaboration, and integrity. The group believes that sustainability and commercial viability must go hand in hand, and only supports companies whose solutions have the potential to deliver real-world impact by decarbonising the energy sector and creating scalable, profitable businesses. Internally, National Grid Partners fosters a culture of openness, fairness, and entrepreneurial thinking, uniting its team around the shared goal of driving meaningful change for society and the environment. The company upholds the highest standards of ethical and sustainable conduct throughout its operations and supply chain, ensuring that robust governance is a foundational value at every level.
These principles are reflected in National Grid Partners’ commitment to supporting not only commercial ventures but also broader community and industry initiatives that advance the energy transition and promote positive environmental and social outcomes.
Geographic Scope
National Grid Partners (NGP) invests globally, with a strong presence in the United States and the United Kingdom.Headquartered in Silicon Valley, NGP maintains offices in Boston, London, and New York. Its portfolio companies operate internationally, and its reach is further extended through the NextGrid Alliance, a network connecting over 120 utility companies worldwide. NGP is particularly active in regions where National Grid plc operates, including the UK and the northeastern United States, but remains open to opportunities with global relevance and scalability.
Sectors of Interest
NGP concentrates on transformative technologies and business models that accelerate the shift to a smarter, cleaner, and more resilient energy system. Core areas of interest include:
NGP seeks innovations that deliver measurable operational and environmental benefits, supporting the transition to a low-carbon, sustainable economy while improving efficiency, reliability, and customer value.
NGP backs early and growth-stage companies led by visionary, mission-driven founders. The focus is on high-impact ventures with scalable business models and technologies that address urgent challenges in the energy sector, such as decarbonisation, grid resilience, and digital transformation. Each investment is expected to generate lasting value for both the energy system and its communities, with the potential for strong long-term returns. NGP often leads or co-leads funding rounds and provides portfolio companies with access to capital, business development support, and connections to a global network of utilities and technology partners.
National Grid Partner’s investment approach is guided by four pillars:
National Grid Partners is committed to supporting companies whose solutions have the potential to deliver real-world impact, both by advancing the energy transition and by creating scalable, profitable businesses.
National Grid Partners uses a rigorous and structured multi-stage process to assess potential investments, ensuring alignment with its mission to accelerate the energy transition and support commercially viable technologies that deliver real-world impact.
Initial Screening
The assessment begins with an initial screening to determine whether each opportunity fits National Grid Partners’ strategic objectives. This includes evaluating the experience and expertise of the founding team, the maturity and distinctiveness of the technology, and the size and accessibility of the target market.
Due Diligence
A formal due diligence process follows, which includes technical validation to assess the robustness and scalability of the solution. Market fit is thoroughly analysed to confirm that the technology addresses a genuine and urgent need within the energy sector. Climate impact is assessed over a multi-year period, with a focus on quantifiable environmental outcomes, such as reductions in emissions or improvements in energy efficiency.
Benchmarking and Expert Input
Each opportunity is benchmarked against global data for early-stage ventures to ensure competitiveness and relevance within a fast-evolving sector. National Grid Partners also engages external experts and industry specialists to review both the technical soundness and the scalability of the proposed solution.
This comprehensive approach ensures that every investment made by National Grid Partners delivers long-term commercial value and tangible environmental benefits, in line with both the organisation’s strategic goals and the broader shift towards a sustainable energy future.
National Grid Partners has invested in a diverse range of early and growth-stage companies that are driving innovation in the energy sector. These investments support the transition to a smarter, cleaner, and more resilient energy system. Below are some of the most notable companies in their portfolio:
Amperon provides AI-powered energy forecasting and analytics solutions. Their technology assists utilities in managing demand and ensuring grid reliability, which is crucial as energy systems become more complex with the integration of renewable sources and electrification of transport. Visit website: Amperon.
AiDash leverages satellite technology and artificial intelligence to monitor and manage critical infrastructure. Their solutions help utilities enhance grid resilience by providing insights into vegetation management and disaster response. Visit website: AIDash.
Sensat
Sensat enables infrastructure owners to visualise and collaborate on projects via digital twins, powered by artificial intelligence. National Grid has deployed Sensat in the United Kingdom to speed up substation upgrades and data centre connections, reducing errors, improving safety, and shortening project timelines. Visit website: Sensat.
Discover more successful investments: National Grid Partners Portfolio
National Grid Partners is fully funded by National Grid plc, one of the world’s largest investor-owned energy companies. As the corporate venture and innovation arm of National Grid, the group benefits from dedicated capital allocations aligned with the company’s long-term strategy to lead the energy transition and support the development of transformative technologies.
Rather than raising external funds, National Grid Partners invests directly on behalf of National Grid plc, enabling a highly focused and mission-driven approach to venture funding. This structure allows the group to prioritise both strategic impact and long-term value creation, backing startups that deliver measurable environmental benefits and support a smarter, cleaner, and more resilient energy system.
By operating within a global utility group, National Grid Partners is uniquely positioned to provide early and growth-stage capital alongside deep sector expertise, operational insights, and commercial pathways. This integrated approach ensures strong alignment with National Grid’s decarbonisation goals while driving innovation that benefits the wider energy ecosystem.
Investment Stage:
National Grid Partners invests across a range of company stages, with a primary focus on early and growth stage ventures that are beyond proof of concept and at the early stage of commercialisation. The group is open to seed and Series A investments and will selectively participate in later stage funding rounds for exceptional opportunities that align with its strategic priorities and expertise.
Recent investments include participation in Series C rounds, such as Omnidian and Luminance, demonstrating flexibility to support companies through different phases of growth.
Equity:
National Grid Partners typically makes equity investments, acquiring shares in the companies it supports. The group also maintains flexibility to use convertible instruments, such as convertible notes, when appropriate. This approach allows National Grid Partners to provide adaptable funding structures that suit both founders and investors, ensuring alignment with the long term growth of portfolio companies.
Funding:
National Grid Partners is funded directly by National Grid plc, one of the world’s largest publicly listed energy utilities. This corporate backing enables National Grid Partners to invest for both strategic and financial returns and to lead or co-lead funding rounds. Since its launch in 2018, National Grid Partners has made more than eighty investments and has deployed over one hundred and fifty million dollars in artificial intelligence startups alone, with a total portfolio exceeding fifty companies.
Recent Developments:
National Grid Partners is in an active investment phase and continues to expand its portfolio of companies advancing the energy transition. The group regularly leads or co-leads funding rounds and has recently committed one hundred million dollars specifically to accelerate artificial intelligence innovation in the energy sector. Notable recent investments include Amperon, a provider of artificial intelligence powered energy forecasting, and Omnidian, which received funding as part of a Series C round in April 2025.
National Grid Partners’ approach is designed to support scalable, high impact ventures that address urgent challenges in the energy sector, including grid modernisation, digital transformation, decarbonisation, and the integration of renewable energy. Each investment is selected through a rigorous process to ensure strong potential for real world impact and commercial success, with ongoing support provided through business development, industry connections, and access to a global network of utilities and technology partners.
National Grid Partners invests in early and growth stage companies developing scalable technologies that address urgent challenges in the energy sector, including decarbonisation, grid modernisation, and the integration of renewable energy. The portfolio targets solutions that deliver measurable environmental and operational benefits, such as reducing emissions, improving energy efficiency, and supporting the transition to a low carbon, resilient energy system.
Each investment is selected through a process that focuses on real world impact and commercial potential. For example, AiDash uses artificial intelligence and satellite data to enable utilities to monitor infrastructure and reduce outages, while Amperon provides artificial intelligence powered energy forecasting to help manage demand and integrate renewables. LineVision offers overhead power line monitoring to increase grid capacity without major upgrades. Captura develops large-scale direct ocean carbon capture technology, supporting decarbonisation efforts.
National Grid Partners provides more than capital. The team offers strategic guidance, business development support, and access to a global network of utilities and industry experts. Portfolio companies benefit from opportunities to pilot and deploy their technologies within National Grid’s operations in both the United Kingdom and the United States, accelerating commercialisation and sector impact.
National Grid Partners also plays a role in industry collaboration, working with utilities and innovators worldwide to share insights, foster partnerships, and accelerate progress in the energy transition. Through these combined efforts, National Grid Partners reinforces its mission to accelerate the global transition to a smarter, cleaner, and more resilient energy system, delivering both commercial value and positive environmental outcomes.
National Grid Partners supports its portfolio companies with more than investment alone. The firm provides founders with strategic guidance, operational expertise, and access to a wide network of utility and technology leaders—helping early- and growth-stage companies navigate scaling challenges and enter new markets.
Through its NextGrid Alliance, National Grid Partners brings together over 130 utility companies worldwide to share insights, foster strategic partnerships, and accelerate the commercial adoption of innovative technologies. By cultivating these connections and promoting collaboration, National Grid Partners enhances both the commercial reach and environmental impact of its investments, reinforcing its dedication to advancing the energy transition.
National Grid Partners is led by a group of experienced professionals with strong backgrounds in venture capital, energy, technology and business development. The team combines expertise in investment, corporate strategy, innovation and operational execution to support founders with strategic guidance and industry connections.
Steve Smith, President
Steve Smith is President of National Grid Partners and also serves as Chief Strategy and Regulation Officer at National Grid. He joined the company in 2021 following senior leadership roles at Lloyds Banking Group, Ofgem and PwC, and brings over 25 years of experience in strategy, regulation and innovation.
Pradeep Tagare, Head of Investments
Pradeep Tagare leads the investment team and has extensive experience in corporate venture capital and technology investing. He previously worked at Intel Capital and has been recognised as a leader in the industry, including being named to the GCV Powerlist.
Brett Chandler, Vice President of Business Development
Brett Chandler is responsible for business development, helping portfolio companies access commercial opportunities and scale through strategic partnerships. He brings prior experience from leadership roles within National Grid’s core operations.
Gerard Kelly, Vice President of Innovation and Venture Acceleration
Gerard Kelly leads innovation and venture acceleration, working to launch and grow new businesses within the portfolio. He brings entrepreneurial experience, having co-founded a SaaS startup, and holds an MBA from INSEAD.
The broader team integrates deep utility-sector knowledge with decades of Silicon Valley startup experience, offering founders practical support, commercial insight and connections across all stages of company growth.
Learn more about the team on the National Grid Partners team page.
Are you building innovative solutions for the energy transition and seeking early stage funding? Discover how National Grid Partners can help accelerate your growth by visiting the National Grid Partners website.
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