An Edinburgh primarily based AI agency has raised $10 million because it seeks to speed up the worldwide power transition.
Continuum Industries has developed Optioneer, an AI-powered community and linear infrastructure growth platform.
The platform helps power corporations to higher assess routing choices for energy strains, cables and pipelines for hydrogen, water, and CO2.
Continuum stated Optioneer can generate a shortlist of viable routing choices from hundreds of thousands of alternate options in only a matter of hours.
Co-founder and CEO of Continuum Grzegorz Marecki stated Optioneer represented an “thrilling and necessary alternative to speed up the march of the infrastructure business into the digital age”.
“If we’re going to ship the power transition required in time to fulfill world local weather targets, we have to utterly rethink worldwide power infrastructure,” Mr Marecki stated.
“Remodeling what we have now, but additionally constructing significantly extra, and doing so at an unprecedented tempo.
“One of the simplest ways to do this is to work smarter, not more durable”.
Continuum stated utilizing AI condenses processes which beforehand took 12 months into simply eight weeks.
Scotland born, location agnostic
Mr Marecki stated early initiatives in Scotland helped develop the broader use case for Optioneer.
“Scotland has each onshore and offshore initiatives which are ruled by strict consenting regimes, and the nation’s mixture of low-lying and mountainous terrain, in addition to excessive density of current infrastructure and blended inhabitants density, creates particular challenges for challenge planning,” he stated.
“However whereas the corporate was born out of the renewables growth in Scotland, and has labored efficiently with power and utility infrastructure companies working within the area, we’re location-agnostic and the Optioneer platform can be utilized simply as efficiently anyplace else on this planet.”
The AI agency has now raised a complete of $15.5 million in funding because it goals to double headcount and develop into new markets within the coming 12 months.
AI supporting web zero transition
Continuum stated whereas demand for power and utility infrastructure is rising, the planning course of is complicated and the present tempo of growth too gradual to fulfill web zero targets.
The UK Electrical energy Networks Commissioner lately really helpful adopting automated hall routing course of as customary apply as a part of efforts to speed up the transformation of the UK’s power system
Continuum stated the newest spherical of funding, led by Singular, will enable the corporate to double the dimensions of its workforce and proceed progress in Europe and the US.
Companion at Singular Henry Tilloy stated infrastructure was an important part of the power transition.
“With out sturdy, future-fit infrastructure to move the rising quantity of power and utilities we want, particularly as renewables come on-line in bigger and bigger volumes, all of the innovation that goes into new technology and storage options will probably be wasted,” Mr Tilloy stated.
Based in 2018, Continuum operates within the UK, the Netherlands, Spain, Italy and the USA.
The corporate already counts Nationwide Grid, SSEN Transmission, Nationwide Gasoline Transmission, Fred. Olsen Seawind, and Iberdola Group as purchasers.
Beneficial for you