LineVision’s Impact on Renewable Energy Adoption
While LineVision does not produce solar panels, wind turbines, or similar technology, the company does impact renewable energy. According to a February 2021 report issued by the Brattle Group, electricity transmission is a limiting factor for renewable energy producers. The study finds that grid enhancing technologies, like LineVision, can double the amount of renewable power added to the electric grid. That's good news for a company like LineVision. However, the benefits go beyond business. The report also estimates that 3 million tons of carbon emissions can be avoided annually, and governments may be able to collect up to $32 million in additional tax revenue.
The Brattle Group is an economic consulting company based in Boston. With more than 400 employees, the consulting company focuses on serving business clients in the energy business.
The Business Sees Potential in the Biden Infrastructure Plan
President Biden has announced plans to spend billions of dollars on infrastructure. Many companies, including startup companies like LineVision, see significant opportunities in the Biden plan. The White House points out that improvements to the electric grid are needed to address climate change. The administration is seeking to achieve 100% carbon-free electricity by 2035. The White House plan includes a request to spend $100 billion on improving the US electricity system.
“LineVision welcomes the Biden Administration’s comprehensive infrastructure proposal, the American Jobs Plan, which will make critical investments to upgrade our electric grid to address current economic challenges and accelerate the transition to a clean energy future,” said Hudson Gilmer, CEO of LineVision.
The startup already has experience working with the US Department of Energy on previous projects. The business states that investments in grid-enhancing technologies can create up to 300,000 construction jobs.
UP Partners Led the Investment Round
LineVision has received investments from multiple venture capital firms. The Series B funding round included UP Partners, National Grid Partners, ZOMA Capital, and Clean Energy Ventures. Several investors have also joined the company board of directors. Daniel Goldman, managing director of Clean Energy Ventures, is on the board. Furthermore, Chairman of UP Adam Grosser has joined the LineVision board and previously invested in Elon Musk ventures such as Solar City and Tesla.
Assuming billions of dollars of US government funding flow to clean energy projects, startup companies in the energy business will have a tremendous growth opportunity. Last year, Plug Power raised $1 million to build a network of hydrogen production facilities across the United States. The startup business provides electric fuel cells to business users such as Amazon, DHL, and Home Depot.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book, "Project Managers At Work," shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.