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ngpartners.com

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Investments

44

Portfolio Exits

2

Funds

2

Partners & Customers

2

About National Grid Partners

National Grid Partners is the venture investment and innovation group of National Grid plc. NGP makes and manages strategically and financially attractive investments and leads company-wide innovation efforts. The organization will focus on innovation, incubation, corporate venture capital and business development providing a multi-functional approach to change the status quo. NGP is based in Silicon Valley with offices and team members in Los Gatos, San Francisco, Boston, London, and New York.

National Grid Partners Headquarter Location

1-3 Strand

London, England, WC2N 5EH,

United Kingdom

(44) 207 004 3220

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Research containing National Grid Partners

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CB Insights Intelligence Analysts have mentioned National Grid Partners in 1 CB Insights research brief, most recently on Feb 11, 2021.

Latest National Grid Partners News

Breakthrough Energy Ventures, National Grid Partners and a Subsidiary of NextEra Energy Invest in TS Conductor to Meet the Growi...

Nov 17, 2021

Breakthrough Energy Ventures, National Grid Partners and a Subsidiary of NextEra Energy Invest in TS Conductor to Meet the Growing Demand for Greener Electricity Grids November 17, 2021 13:35 SAN CLEMENTE, CALIF.--( Business Wire / Korea Newswire ) November 17, 2021 -- TS Conductor Corp., a pioneer in high-efficiency conductors for electricity grids, today announced that Breakthrough Energy Ventures, National Grid Partners and a subsidiary of NextEra Energy have joined Talkot and Hervé Touati in its oversubscribed Series A financing, for a total $25 million in funding. The new capital will be used to build the company’s first state of the art manufacturing plant in the United States. “We are thrilled to have Breakthrough Energy Ventures, National Grid Partners and a subsidiary of NextEra Energy investing in TS Conductor. Our mission is to make electricity networks greener. TS achieves that through a combination of energy efficiency and faster and cheaper renewable integration,” said Dr. Jason Huang, CEO at TS Conductor Corp. While the electricity generation segment of the energy industry has progressed to cleaner and more efficient solutions, the overhead conductor technology used by transmission and distribution grid operators has not materially changed since the emergence of Aluminum Core Steel Reinforced (ACSR) cables in 1908. ACSR still today represents over 95 percent of the utility cables deployed across the world. According to Market Study Report, LLC, the global wires and cables market was estimated to represent $183 billion of sales in 2020, with an annual compounded growth rate anticipated to exceed 4 percent until 2028. Global investment in the power sector reached $780 billion in 2020 and was largely dominated by renewable power (48 percent) and electricity networks (32 percent) investments, according to the International Energy Agency (IEA). While considerable, the IEA notes that current levels of renewable energy and energy efficiency investments still fall short of what is needed to maintain global temperatures well below a 2 ºC rise. The UN climate targets create the need for new cable technologies that can reduce electricity network losses and accelerate the connection of wind and solar farms, which is one of the major bottlenecks of renewable energy expansion. Network losses amount to approximately 2000 TWh annually, or 6.7 times the electricity consumption of the U.K. “Transmission is fundamentally important to our climate mission, yet it has seen limited innovation over the years. It is rare to find a transmission technology like TS Conductor with as much potential in terms of deployability, cost and efficiency,” said Carmichael Roberts, Breakthrough Energy Ventures. “TS Conductor will be a major enabler of increasing electricity demand and increasing penetration of renewables in a critical time. We are delighted to lead this round with a stand-out team and an outstanding technology.” “National Grid has committed to reducing our greenhouse gas emissions 90 percent by 2040 and to net zero by 2050, and to accelerating the incorporation of wind, solar and battery storage in our grids in the UK and North America,” said Lisa Lambert, Chief Technology and Innovation Officer of National Grid and the President and Founder of National Grid Partners. “There are few solutions enabling grid operators to reduce their electricity consumption, and TS Conductor is the most impressive solution I have encountered so far to decarbonize electricity grids. Their product, when combined with a top-notch management team, positions TS Conductor to be a leader in the market.” TS Conductor was founded in 2018 by Rulong Chen, James Huang and Jason Huang, based on James Huang’s patented conductor design. This new class of conductors is based on a unique combination of carbon composite and aluminum encapsulation of the composite core. The conductors can be installed with the same tools and operating procedures as ACSR cables. And they are compatible with industry standard field practice and can be used for: · Line reconductoring, allowing for the doubling of capacity of an existing line without having to change or retrofit any structures. · Energy efficiency upgrades, reducing technical line losses by half without having to change or retrofit any structures. · Insulation upgrades of distribution networks, reducing forest fire risks without having to change the poles or towers. · Building new lines with lower structure costs and/or better characteristics (in capacity, efficiency, insulation). TS Conductor is also part of the first cohort of Third Derivative. Founded by Rocky Mountain Institute and New Energy Nexus, Third Derivative is a global climate technology startup accelerator with the mission of building an inclusive ecosystem that rapidly finds, funds and scales climate tech innovation. About TS Conductor TS Conductor products allow transmission & distribution grid operators to be active participants to the energy transition - by reducing line losses and accelerating the integration of wind, solar and battery storage - while leveraging existing infrastructure assets. Our products can be used to substitute ACSR conductors using the same tools and installation procedures. TS Conductor is a Minority Business Enterprise (MBE), and a public benefit company focused on sustainable development and GHG reduction. For more information visit www.tsconductor.com. About Breakthrough Energy Ventures Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible. The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more. About National Grid Partners National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world. NGP invests for strategic and financial impact and leads companywide disruptive innovation efforts. The organization provides a multi-functional approach to building startups, including innovation (new business creation), incubation, corporate venture capital, business development and venture acceleration. NGP is headquartered in Silicon Valley and has offices in Boston, London, and New York. Visit ngpartners.com or follow us at www.twitter.com/@ngpartners and www.linkedin.com/showcase/national-grid-partners View source version on businesswire.com: https://www.businesswire.com/news/home/20211116005043/en/

National Grid Partners Investments

44 Investments

National Grid Partners has made 44 investments. Their latest investment was in TS Conductor as part of their Series A on November 11, 2021.

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National Grid Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/18/2021

Series A

TS Conductor

$25M

Yes

2

10/28/2021

Series D

Dragos

$200M

No

4

10/27/2021

Series B - II

Cogniac

$20M

Yes

3

10/14/2021

Series D - IV

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$99M

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10

10/13/2021

Series B

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$99M

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10

Date

11/18/2021

10/28/2021

10/27/2021

10/14/2021

10/13/2021

Round

Series A

Series D

Series B - II

Series D - IV

Series B

Company

TS Conductor

Dragos

Cogniac

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Amount

$25M

$200M

$20M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

2

4

3

10

10

National Grid Partners Portfolio Exits

2 Portfolio Exits

National Grid Partners has 2 portfolio exits. Their latest portfolio exit was RiskIQ on July 11, 2021.

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

7/11/2021

Acquired

$991

20

00/00/0000

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$991

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10

Date

7/11/2021

00/00/0000

Exit

Acquired

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Companies

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Valuation

$991

$991

Acquirer

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Sources

20

10

National Grid Partners Fund History

2 Fund Histories

National Grid Partners has 2 funds, including National Grid Partners Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/19/2021

National Grid Partners Fund II

$150M

1

11/8/2018

National Grid Partners Fund

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$99M

10

Closing Date

4/19/2021

11/8/2018

Fund

National Grid Partners Fund II

National Grid Partners Fund

Fund Type

Subscribe to see more

Status

Amount

$150M

$99M

Sources

1

10

National Grid Partners Partners & Customers

2 Partners and customers

National Grid Partners has 2 strategic partners and customers. National Grid Partners recently partnered with Drax Group, and Equinor on May 5, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

5/29/2019

Partner

Drax Group, and Equinor

United Kingdom, and Norway

Drax Group To Partner With Equinor & National Grid On UK’s First Zero Carbon Cluster

British electrical power generation company Drax Group announced Monday it will partner with Norwegian energy company Equinor and National Grid Ventures on the United Kingdom 's first zero carbon cluster in Humber built around a large-scale carbon capture usage and storage network and a hydrogen production facility .

1

5/19/2019

Partner

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10

Date

5/29/2019

5/19/2019

Type

Partner

Partner

Business Partner

Drax Group, and Equinor

Country

United Kingdom, and Norway

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News Snippet

Drax Group To Partner With Equinor & National Grid On UK’s First Zero Carbon Cluster

British electrical power generation company Drax Group announced Monday it will partner with Norwegian energy company Equinor and National Grid Ventures on the United Kingdom 's first zero carbon cluster in Humber built around a large-scale carbon capture usage and storage network and a hydrogen production facility .

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Sources

1

10

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