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Corporation
ENERGY & UTILITIES | Electric / Transmission & Distribution
nationalgrid.com

Investments

10

Portfolio Exits

3

Funds

1

Partners & Customers

10

Service Providers

3

About National Grid

National Grid (LSE: NG) is an energy company focusing on the transmission and distribution of electricity and gas. The company's main services include delivering electricity and gas safely, reliably, and efficiently to its customers, while also working towards a clean energy future. National Grid primarily serves the energy sector. It was founded in 1812 and is based in Warwick, United Kingdom.

Headquarters Location

1 - 3 Strand

Warwick, England, WC2N 5EH,

United Kingdom

+44 (0)20 7004 3000

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Latest National Grid News

After raising €29.8M, London’s ev.energy secures $41M California Energy Commission Grant

Feb 23, 2024

Read this article in: Ev.energy, a London-based software platform that manages the charging of electric vehicles (EVs), announced on Wednesday that it has been chosen to receive a public funding grant of up to $41M (approximately €38M) from the California Energy Commission (CEC). The announcement comes eight months after raising €29.8M in a Series B round of funding led by National Grid Partners (NGP) with support from Aviva Ventures, WEX Venture Capital, and InMotion Ventures, the investment arm of JLR. The grant, known as “Responsive, Easy Charging Products With Dynamic Signals” (REDWDS), aims to make affordable EV charging accessible to all Californians. Utilities and CCAs will match funds to enrol EV drivers into managed charging programs, creating a dynamic EV virtual power plant. Under the ChargeWise program, the funding will assist in managed charging for 275,000 electric vehicle (EV) drivers in California. The program will particularly focus on aiding utility and CCA partners to serve underprivileged communities. Over the next four years, these communities will receive incentives worth more than $50M (approximately €46M). - A message from our partner - In 2024, the UK company will launch Phase 1 of the ChargeWise program with MCE, Silicon Valley Clean Energy, Peninsula Clean Energy, and Southern California Edison, signing up thousands of EV drivers. In Phase 2, which will begin in late 2024, ev.energy will scale to 275,000 drivers – equivalent to 5 per cent of California’s estimated fleet – by working with current and new California utility and CCA partners. Fifty per cent of participants will be in disadvantaged communities, as defined by the CEC. ev.energy: Making EV charging greener, cheaper, and smarter Founded in 2018 by Nick Woolley and Chris Darby, ev.energy offers an end-to-end software platform that seamlessly connects with various electric vehicles and chargers, intelligently managing EV charging. By collaborating with utilities, the UK company also enables customers to save on charging costs by charging their vehicles during grid-friendly times. Since its inception, the company has secured over 30 national, regional, and municipal utility contracts, and established partnerships with major charging brands and auto original equipment manufacturers (OEMs) like the Volkswagen Group. The company’s Virtual Power Plant (VPP) boasts more than 120,000 EV drivers across North America and the UK as active participants. In 2021, the London-based company introduced its commercial trading demand response platform, aimed at fortifying grid resilience and significantly reducing carbon emissions on a large scale. The year 2023 has been marked by remarkable growth and innovation for the company, with the expansion of its VPP to include Vehicle-to-Grid (V2G) solutions. The company also launched its fleet management platform ‘Pando’ and ventured into the solar market with its solar home charging function, ev.energy SOLAR. Beyond its work to enable a cleaner, more resilient grid, ev.energy’s B Corp certification has demonstrated its commitment to delivering broader social and environmental change. The company has been a carbon-negative business for the past two years with an estimated savings of 762 tonnes of carbon in 2022 alone. California Energy Commission ‍The California Energy Commission is leading the state to a 100 per cent clean energy future. It has seven core responsibilities: developing renewable energy, transforming transportation, increasing energy efficiency, investing in energy innovation, advancing state energy policy, certifying thermal power plants, and preparing for energy emergencies. “The CEC and the state of California have a long history of making California a global leader in decarbonisation,” says Melanie Biesecker, Customer Programs Manager at MCE for transportation electrification. “MCE’s partnership with ev.energy will provide EV drivers with greater access to grid-friendly charging solutions that save them money and support the clean energy transition. Most importantly, this grant will further our shared mission to improve access to simple, affordable, and green EV charging.”

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 01, 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 Constellation Home on February 2, 2024.

Date

Type

Business Partner

Country

News Snippet

Sources

2/9/2024

Vendor

United States

Everett LNG terminal will stay open under deal with National Grid

National Grid has inked a six-year agreement to purchase liquefied natural gas from Constellation Energy 's LNG terminal in Everett , a good sign that the fuel terminal will not close this year as many in New England 's energy industry have feared .

1

2/8/2024

Partner

United Kingdom

Octopus and National Grid join forces for heat pump rollout

Octopus Energy and National Grid join forces for heat pump rollout

1

12/12/2023

Client, and Vendor

United Kingdom, France, and Greece

2

12/12/2023

Vendor

United States, and Greece

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10

12/8/2023

Vendor

United Kingdom

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10

Date

2/9/2024

2/8/2024

12/12/2023

12/12/2023

12/8/2023

Type

Vendor

Partner

Client, and Vendor

Vendor

Vendor

Business Partner

Country

United States

United Kingdom

United Kingdom, France, and Greece

United States, and Greece

United Kingdom

News Snippet

Everett LNG terminal will stay open under deal with National Grid

National Grid has inked a six-year agreement to purchase liquefied natural gas from Constellation Energy 's LNG terminal in Everett , a good sign that the fuel terminal will not close this year as many in New England 's energy industry have feared .

Octopus and National Grid join forces for heat pump rollout

Octopus Energy and National Grid join forces for heat pump rollout

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Sources

1

1

2

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

20 Team Members

National Grid has 20 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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