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Corporation
ENERGY & UTILITIES | Electric
nationalgrid.com

Investments

10

Portfolio Exits

3

Funds

1

Partners & Customers

10

Service Providers

3

About National Grid

National Grid (LSE: NG; NYSE: NGG) is an electricity and gas company that connects consumers to energy sources through its networks. It provides sustainable energy solutions for the future and develops an energy system including electricity interconnectors, multi-purpose interconnectors, renewable energy, offshore wind, competitive transmission, future developments, and grain LNG. The company was founded in 1990 and is based in Warwick, U.K.

Headquarters Location

1 - 3 Strand

Warwick, England, WC2N 5EH,

United Kingdom

+44 207 004 3220

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Latest National Grid News

4,600 Good-paying jobs: RWE, National Grid JV Bids for New York Offshore Wind Rights

Jan 27, 2023

January 27, 2023 ©Ian Dyball/AdobeStock A joint venture between RWE Renewables and National Grid called Community Wind has submitted a proposal to the New York State Energy Research and Development Authority (NYSERDA) to provide New York State with electricity from 1.3 GW of offshore wind capacity to power nearly 500,000 homes. The bid submission was in response to the State's third competitive offshore wind solicitation, adding to the joint venture's current portfolio of five offshore wind projects. NYSERDA is expected to announce the winning clean energy suppliers in early spring 2023. Community Winds' bid includes creating over 4,600 good-paying jobs through the year 2033, across the supply chain in New York, prioritizing those from disadvantaged communities, local companies, and the union workforce. Further, it said it would deliver over $3 billion in economic benefits to New York, with the project supporting the state in reaching its goal of directing 40 percent of the overall benefits of clean energy spending to disadvantaged  communities. The joint venture further said it would collaborate with General Electric (GE) to deliver "a nation-leading opportunity to localize both blade and nacelle facilities." It said it would bring steel fabrication and processing to Orange County, and create union jobs and exceed the solicitation's target for US steel. The consortium also plans to invest a Staten Island port facility for staging and assembly of wind turbines, "which will contribute to good-paying jobs in the borough." Furthermore, Community Winds said it woud develop a $100 million package of economic development and workforce programs designed to favor disadvantaged communities, New York Minority and Women-Owned  Business Enterprises (MWBE) and Service-Disabled Veteran-Owned Small  Business (SDVOB) businesses. The joint venture has also committed to supporting parents who are working in and training for offshore wind careers with $10 million in childcare services, in partnership with United Way of New York State, as well as investing in a just energy transition at National Grid's E.F. Barrett Clean Energy Center on Long Island, including energy storage and an ambitious opportunity to support the community by retraining existing, local workers for clean energy jobs. Subject to NYSERDA's final selections, and once in operation, Community Offshore Wind expects the project will reduce New York 's electricity system-related carbon emissions by about 5 percent and contribute significantly to the State's target of reaching  zero-emission electricity by 2040 and 9,000 MW of offshore wind by 2035. This is equal to mitigating emissions of up to 700,000 homes annually. In February 2022, Community Offshore  Wind was successful in acquiring its lease area (roughly 126,000 acres)  in the New York Bight, the area between Long Island and New Jersey, with a potential capacity of 3 GW of offshore wind.

National Grid Investments

10 Investments

National Grid has made 10 investments. Their latest investment was in Citizens Advice as part of their Grant on November 11, 2022.

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National Grid Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/1/2022

Grant

Citizens Advice

$11.44M

Yes

1

11/1/2022

Grant

Affordable Warmth Solutions

$11.44M

Yes

1

11/1/2022

Grant - II

The Fuel Bank Foundation

$11.44M

No

1

6/30/2021

Grant

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$99M

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10

2/17/2017

Series B

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$99M

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10

Date

11/1/2022

11/1/2022

11/1/2022

6/30/2021

2/17/2017

Round

Grant

Grant

Grant - II

Grant

Series B

Company

Citizens Advice

Affordable Warmth Solutions

The Fuel Bank Foundation

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Amount

$11.44M

$11.44M

$11.44M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

1

1

1

10

10

National Grid Portfolio Exits

3 Portfolio Exits

National Grid has 3 portfolio exits. Their latest portfolio exit was ENBALA Power Networks on October 05, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/5/2020

Acquired

$99M

1

10/21/2005

Acquired

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$99M

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10

6/3/2005

Divestiture

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$99M

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10

Date

10/5/2020

10/21/2005

6/3/2005

Exit

Acquired

Acquired

Divestiture

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

National Grid Acquisitions

8 Acquisitions

National Grid acquired 8 companies. Their latest acquisition was Western Power Distribution on March 18, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/18/2021

$99M

Acquired

18

3/7/2019

Other

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$99M

$99M

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10

8/25/2007

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$99M

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10

2/17/2006

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$99M

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10

8/26/2004

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$99M

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10

Date

3/18/2021

3/7/2019

8/25/2007

2/17/2006

8/26/2004

Investment Stage

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired

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Sources

18

10

10

10

10

National Grid Fund History

1 Fund History

National Grid has 1 fund, including National Grid Energy Support Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/1/2022

National Grid Energy Support Fund I

$58M

2

Closing Date

11/1/2022

Fund

National Grid Energy Support Fund I

Fund Type

Status

Amount

$58M

Sources

2

National Grid Partners & Customers

10 Partners and customers

National Grid has 10 strategic partners and customers. National Grid recently partnered with EXFO on January 1, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

1/17/2023

Vendor

Canada

UK National Grid Selects  EXFO for Innovative Fiber Health Monitoring Pilot Project

EXFO , the communications industry 's test , monitoring and analytics experts announced that National Grid , one of the world 's largest publicly-listed utilities focused on transmission and distribution of electricity and gas , has selected EXFO for an innovation pilot project to provide monitoring for its ongoing fiber network health assessment in the UK , supporting the UK 's goal of becoming net-zero by 2050 .

2

1/5/2023

Vendor

United States

Burns & McDonnell Awarded Third National Grid Contract.

`` I 'm delighted that Burns & McDonnell has been awarded this contract with National Grid , which reflects the strong partnership we have in the U.K.

1

12/5/2022

Vendor

United Kingdom

Piclo and National Grid launch new marketplace for flexibility services in New York state

National Grid collaborates with Piclo to deliver new flexibility marketplace in New York state .

1

11/17/2022

Partner

United Kingdom

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10

11/14/2022

Partner

United Kingdom

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10

Date

1/17/2023

1/5/2023

12/5/2022

11/17/2022

11/14/2022

Type

Vendor

Vendor

Vendor

Partner

Partner

Business Partner

Country

Canada

United States

United Kingdom

United Kingdom

United Kingdom

News Snippet

UK National Grid Selects  EXFO for Innovative Fiber Health Monitoring Pilot Project

EXFO , the communications industry 's test , monitoring and analytics experts announced that National Grid , one of the world 's largest publicly-listed utilities focused on transmission and distribution of electricity and gas , has selected EXFO for an innovation pilot project to provide monitoring for its ongoing fiber network health assessment in the UK , supporting the UK 's goal of becoming net-zero by 2050 .

Burns & McDonnell Awarded Third National Grid Contract.

`` I 'm delighted that Burns & McDonnell has been awarded this contract with National Grid , which reflects the strong partnership we have in the U.K.

Piclo and National Grid launch new marketplace for flexibility services in New York state

National Grid collaborates with Piclo to deliver new flexibility marketplace in New York state .

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Sources

2

1

1

10

10

National Grid Service Providers

6 Service Providers

National Grid has 6 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Acquired

Investment Bank

Joint Financial Advisor

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Service Provider

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Associated Rounds

Acquired

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Provider Type

Investment Bank

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Service Type

Joint Financial Advisor

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Partnership data by VentureSource

National Grid Team

19 Team Members

National Grid has 19 team members, including current Managing Director, Jon Butterworth.

Name

Work History

Title

Status

Jon Butterworth

Managing Director

Current

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Name

Jon Butterworth

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Work History

Title

Managing Director

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Status

Current

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