Investing in and Establishing a Strategic Partnership with LineVision Inc.
Oct. 05, 2022
Marubeni Corporation (hereinafter, “Marubeni”) has successfully completed its investment in LineVision Inc. (hereinafter, “LineVision”), which provides monitoring and analysis solutions for transmission lines, at a Series C financing. Through this investment, Marubeni aims to expand its services that solve challenges of power infrastructure to realize a decarbonized society. In addition, a memorandum of understanding (hereinafter, “Alliance”) was signed to establish a strategic partnership to expand LineVision’s businesses in Japan and other countries.
With the global demand for further integration of renewable energy, delays in interconnection access and output curtailment of renewable energy due to insufficient transmission capacity have become serious issues worldwide. Conventional methods such as expanding transmission lines may require decades and enormous investment, which has become one of the major hurdles for countries to achieve their renewable energy targets.
LineVision provides solutions that increase the capacity of existing transmission lines using a technology called dynamic rating, which increases available transmission capacity in real time based on transmission line monitoring and ambient conditions. LineVision’s monitoring and analysis solutions use its unique non-contact sensor that can be installed without directly touching transmission lines. Installation does not require any transmission outages and can be completed quickly and safely.
Since its establishment in 2018, LineVision’s solutions have been adopted by major utility companies in the U.S. and Europe, and the company has been experiencing rapid growth. Climate Innovation Capital is the lead investor in this round, with the participation of S2G Ventures, a venture capital company, and other existing investors, including National Grid Partners, a major power transmission and distribution company.
Marubeni, through its wholly owned subsidiary Mibugawa Electric Power, has conducted a one-year demonstration project on its transmission lines and confirmed the effectiveness of LineVision technology to increase transmission capacity in Japan. Marubeni has also been continuously contributing to the growth of LineVision as an exclusive distributor in the Japanese market since August 2021 through investing and participating in its new pilot project on Japanese utility’s transmission lines and other activities.
Marubeni has made “Green Strategy” one of its fundamental policies to enhance its corporate value in its current Mid-Term Management Strategy GC2024, which places “transmission technology supporting renewable power” among its green businesses. Through this Alliance, Marubeni will contribute to solving social and environmental issues and achieving sustainable growth in the electric power industry, not only in Japan but also elsewhere in Asia and other regions around the world, by combining its global network with LineVision’s cutting-edge technologies.
|Location:||Boston, MA, United States|
|Business:||Providing non-contact sensors and data analysis solutions for power lines|
Related Press Release:
September 17, 2021
Distribution Agreement with LineVision to Improve Efficiency of Transmission Line in Japan:
Improving the Efficiency of Transmission Line Operations by Dynamic Line Rating