Startup Eneryield secures additional seed funding

Eneryield, one of Chalmers Ventures’ portfolio companies, has successfully closed a seed funding round with investment from technology leaders in electrification and automation, ABB and Chalmers Ventures.

Developed following a decade of research at Chalmers University of Technology and spun out in 2019, Eneryield offered a proactive approach to power grid maintenance. Its AI-powered solution helped grid operators move from reactive to proactive maintenance, effectively reducing unplanned outages with machine learning prediction technology integrated into existing systems.

Dr Ebrahim Balouji, Chief Executive Officer, Eneryield explains: “With support from strategic investors like ABB and Chalmers Ventures, we are ready to take our solution to the market. Seeing our research fields combined and come to life as a commercial product is motivating to say the least. Our timing is perfect with the growing demand for green energy and the world's economic and security situation; the need for local, smart energy grid solutions is growing rapidly, and we are ready to meet that demand.”

Eneryield’s software solution, Intelliview, integrates into existing power networks without requiring additional hardware like sensors. It is an efficient and reliable solution for hassle-free implementation, saving time and cost.

The Swedish startup’s technology was designed to analyse and predict overloads and faults, helping grid operators resolve problems without disrupting the power supply. Intelliview was available for pilots and commercial projects, as Cloud or on-premises deployment.

Commenting on the investment Sami Raitakoski, Grid Components Global Product Group Manager from ABB’s Electrification Distribution Solution said: "The portfolio synergies between ABB and Eneryield will help create one of the most advanced prediction systems for power networks. Combining Eneryield’s AI analytics with ABB relays and centralised or virtualised protection and control systems will result in improved accuracy and better maintenance planning for utility and industry customers. The early warning gives the grid operator the time needed to take necessary actions to avoid faults and outages, resulting in better grid reliability and reduced operational costs."