Samsung Ventures has invested in GridBeyond, a startup focused on improving grid management through innovative software and battery solutions. GridBeyond’s technology coordinates multiple gigawatts of supply and demand, addressing the challenges of balancing electricity flow on the grid.
GridBeyond’s CEO, Michael Phelan, highlighted the issue of peak power demands on the grid, particularly impacting tech companies and data centers that rely on substantial electricity for AI model training and operations. By leveraging energy stored in batteries and industrial load adjustments, GridBeyond aims to enable the growth of hyperscalers.
GridBeyond’s approach involves integrating hardware and software to create virtual power plants from various grid components, managing significant solar, battery, wind, and hydropower capacities. The startup recently secured a €12 million ($13.8 million) equity round led by Samsung Ventures, indicating confidence in its grid management solutions.
With hardware controllers deployed in batteries, renewable power plants, and industrial facilities across multiple countries, GridBeyond is actively reshaping the energy landscape with its innovative technology.
Source: TechCrunch