Splight, a leading innovator in integrating artificial intelligence and data science in renewable energy systems, is excited to announce a significant milestone in securing a $2 million investment from EDP Ventures. This investment signifies EDP Ventures' first venture outside Brazil into the Latin American market, showcasing strong support for Splight's groundbreaking approach and its potential to redefine renewable energy management.
Established in 2021, Splight is at the forefront of enhancing renewable energy generation and distribution efficiency. Our state-of-the-art platform, designed for the electricity sector's diverse stakeholders, including generators, distributors, and system operators, utilizes advanced AI and machine learning algorithms. That enables real-time improvements in operational decisions for solar and wind plants without necessitating new hardware installations, firmly positioning our software-as-a-service (SaaS) solution as a leader in the field.
Splight's mission is to spearhead the adoption of AI in the renewable energy sector, aiming for more efficient and sustainable energy systems. We are proud to be recognized and earning several awards and acclaim within the industry worldwide.
EDP Ventures, the venture capital arm of EDP, promotes innovation in the energy sector. By investing in companies that align with EDP’s strategic goals, EDP Ventures aims to enhance operational efficiencies in renewable energy operations across Latin America and globally. The investment in Splight underlines EDP Ventures' commitment to supporting innovative solutions that complement EDP's worldwide operations.
The funding from EDP Ventures will catalyze Splight's expansion, allowing for enhanced research and development, increased market presence through strategic sales efforts, and new hires. This partnership is a significant step forward for Splight in its mission to revolutionize the renewable energy sector, driving efficiency and sustainability on a global scale.
With the backing of EDP Ventures, Splight is set to extend its influence and refine its platform to meet the growing demand for effective renewable energy solutions. We aim to establish a benchmark in AI-driven energy optimization, contributing to a more efficient and sustainable energy future worldwide.
Carlos Andrade, Vice-President of Customers and Innovation at EDP Brasil and Partner of EDP Ventures, stated, "Our investment in Splight is a strategic move to broaden our investment reach and enhance operational efficiencies across Latin America. Splight's innovative solutions are expected to be critical in optimizing renewable energy operations within our networks and beyond."
"The investment from EDP Ventures not only affirms the innovation and dedication of our team but also equips us with the resources needed to lead in transforming the renewable energy landscape. We are enthusiastic about the future and committed to promoting sustainability and efficiency in the energy sector", added Thomas Vadora, Co-founder and CTO at Splight.
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