ThinkLabs AI, Inc. Launches and Secures $5M Seed Investment to Develop Technology to Transform Critical Grid Operations
May 23 2024 - 6:00AM
ThinkLabs AI, Inc. (ThinkLabs), a new startup focused on developing
technology to help enhance grid planning through a combination of
intelligent automation and AI, announced today its launch from GE
Vernova and $5M seed investment co-led by Powerhouse Ventures and
Active Impact Investments, with participation from Blackhorn
Ventures, Amplify Capital, Mercuria Energy, and a national US
energy company.
The electrical grid is under historic pressure
as the energy transition accelerates. Network congestion from
electric vehicle charging and data center growth, aging
infrastructure, long interconnection queues for renewable
developments, adverse weather events, and workforce constraints are
salient pain points for utilities around the world. These pain
points create real risks to reliable grid operation.
Led by industry veteran and proven energy
entrepreneur Josh Wong, ThinkLabs is developing its flagship
product, ThinkLabs Copilot, to help enable control room operators
to more effectively operate complex modern grids in increasingly
challenging contexts. The digital assistant is being designed to
ensure reliability in territories with high penetration of
distributed energy resources (DERs) and renewables. For example, EV
charging and data centers are causing unpredictable congestions on
the grid and causing grid reliability concerns. By utilizing an AI
copilot, grid conditions can be continuously monitored, violations
detected, and solutions automatically recommended before problems
occur.
"As AI is becoming more pervasive in generating
texts, images and videos, we see the need for specialized AI for
utility grids that are rapidly decarbonizing," said Josh Wong,
founder and CEO of ThinkLabs. "Our unique capability is in modeling
real world phenomena governed by physics and engineering into its
equivalent physics-informed AI digital twin, and providing a grid
copilot for critical grid planning and operations."
The ThinkLabs Copilot is being designed to
support natural language interactions and augments centralized
operational systems such as Advanced Distribution Management
Systems (ADMS) and Distributed Energy Resource Management Systems
(DERMS), while enhancing edge intelligence.
“We are excited by the unique skills and
experiences that Josh and the ThinkLabs’ team bring to building
autonomous orchestration capabilities, which are critical for
modern grids to operate reliably as the world electrifies and
decarbonizes,” said Emily Kirsh, Managing Partner, Powerhouse
Ventures.
“Maintaining grid stability is getting more
complex, and more pivotal as we transition to cleaner, more
abundant and variable sources of energy. Josh and his team at
ThinkLabs are trusted experts in this industry and have proven
their ability to solve complex challenges for utilities and ensure
our grid stays reliable,” said Mike Winterfield, Founder and
Managing Partner, Active Impact Investments.
About ThinkLabs AI, Inc.ThinkLabs AI, Inc. is a
specialized AI development and deployment company. Our mission is
to empower critical industries and infrastructure with trustworthy
AI towards global energy sustainability. We’re developing our
flagship product, ThinkLabs Copilot, a digital assistant that
understands the real world with proprietary physics-informed AI
digital twins that provide a foundation model for engineering
systems. For more information on ThinkLabs AI, Inc.,
visit thinklabs.ai.
About Powerhouse VenturesPowerhouse Ventures
backs entrepreneurs building the digital infrastructure for rapid
decarbonization. We invest in founding teams building innovative
software to rapidly decarbonize our global energy and mobility
systems, and we believe that addressing the climate crisis requires
deploying our most viable market-based solutions today. For more
information on Powerhouse Ventures visit powerhouse.fund.
About Active Impact InvestmentsActive Impact
Investments is a Certified B Corp based in Vancouver, BC, whose
mission is to support environmental sustainability through
profitable investment. We provide money and talent to accelerate
the growth of early-stage climate tech companies with revenue and
significant growth potential. Our portfolio includes and is seeking
some of the most successful startups in North America that are
capable of achieving venture scale and becoming extremely
profitable while solving the most urgent environmental issues.
For more information on Active Impact Investments visit
activeimpactinvestments.com.
- Solar and Wind Energy Capture
Kari Kylo
SOMA Public Relations
(604) 889-8057
kari@somaworks.com