Splight Inc. secures $12M in seed funding to tackle the energy industry’s biggest problem energy curtailment

The Splight Inc. company has recently disclosed that it has closed its $12 million seed funding round. This funding is towards preventing energy curtailment, a major problem that has a great impact on the effectiveness and feasibility of renewable energy resources. By securing new seed funding, Splight Inc. is well-placed to transform the current efforts against energy curtailment. The company’s strategies include increasing its operations to another level, expanding the technology it provides, and penetrating new markets.

Energy Curtailment

Energy curtailment is when the amount of electricity that comes from wind and solar sources is more than the capacity of the grid. Some of this energy is unused, resulting in wasted energy which can be costly for organizations in the long run. This trend of curtailment is on the rise, especially with the use of renewable energy hence the need to find new ways of using the excess energy. 

Mission of Splight Inc.

Splight Inc. has been one of the leading companies that has been researching how to reverse energy curtailment. As the mission of the company, it aims to develop systems that can efficiently store and regenerate any energy to apply renewable energy more effectively. Thus, using the recently received seed funding, Splight Inc. intends to increase the pace of introducing its innovative solutions. 

Funding Round

Several strategic investors and leading venture capital firms invested $12 million in the first round of seed funding. This substantial investment proves that the financial community has faith in Splight Inc.‘s goals and technological expertise. The funds will be focused on improving research and development as well as hiring more people and getting Splight’s new solutions to market in a shorter amount of time. 

Innovative Solutions

Splight Inc. is in the process of developing several technologies specifically for addressing the issue of energy curtailment. Some of the key subdivisions are energy storage, new grid technologies, and predictive infrastructure. Thus, Splight plans to develop an improved energy grid through the integration of these solutions to enhance its stability and adaptability to fluctuations of supply and demand distinctive to renewable energy sources.

Energy Storage systems are used to save energy that has been produced during periods of high generation and supply it during the peak consumption period to minimize wastage and enhance the stability of the electricity supply grid. The smart grid solutions offered by Splight enhance the interaction of electricity producers and consumers, thus increasing the efficiency of electricity distribution. Splight is also capable of predicting the production and consumption of energy for more effective management of energy.

Strategic Partnerships

To realize its aggressive objectives, Splight Inc. must seek alliances with important stakeholders in the energy industry. With their help, existing energy infrastructures will be adapted for the incorporation of Splight’s technologies efficiently and smoothly. Infrastructure cooperation entails collaboration with utility companies, renewable energy providers, and technology partners in the case of Splight. 

Conclusion

The recent seed funding which was worth $12 million for Splight Inc. is a major step for the company to tackle curtailment of energy. Clear vision, innovative technologies, and substantial funding for development secure Splight’s place in the energy market leaders. With one of the largest issues concerning renewable energy today addressed, Splight Inc. is leading the way to a cleaner, more effective, and robust energy new world.