BUSINESS: Breakthrough Energy Ventures And National Grid Partners, As Well As A Subsidiary To NextEra Energy, Invest In TS Conductor

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by Daniel Webster, dWeb.News Publisher

SAN CLEMENTE, Calif.–(BUSINESS WIRE)–TS Conductor Corp., a pioneer in high-efficiency conductors for electricity grids, today announced that Breakthrough Energy Ventures, National Grid Partners and a subsidiary of NextEra Energy have joined Talkot and Herve Touati in its oversubscribed Series A financing, for a total $25 million in funding. The company will use the new capital to construct its first manufacturing facility in the United States.

“We are thrilled to have Breakthrough Energy Ventures, National Grid Partners and a subsidiary of NextEra Energy investing in TS Conductor. Our mission is to make electricity networks more green. TS achieves that through a combination of energy efficiency and faster and cheaper renewable integration,” said Dr. Jason Huang, CEO at TS Conductor Corp.

While the electricity generation segment of the energy industry has progressed to cleaner and more efficient solutions, the overhead conductor technology used by transmission and distribution grid operators has not materially changed since the emergence of Aluminum Core Steel Reinforced (ACSR) cables in 1908. ACSR still today represents over 95 percent of the utility cables deployed across the world.

According to Market Study Report, LLC, the global wires and cables market was estimated to represent $183 billion of sales in 2020, with an annual compounded growth rate anticipated to exceed 4 percent until 2028. Global investment in the power sector reached $780 billion in 2020 and was largely dominated by renewable power (48 percent) and electricity networks (32 percent) investments, according to the International Energy Agency (IEA). Although this is a significant amount, the IEA points out that the current level of energy efficiency and renewable energy investments are still far below what is required to keep global temperatures under 2 degrees Celsius. The UN climate goals require new cable technologies to reduce electricity network losses, accelerate the connection of solar farms and wind farms. This is one of the main bottlenecks in renewable energy expansion. Network losses amount to approximately 2000 TWh annually, or 6.7 times the electricity consumption of the U.K.

“Transmission is fundamentally important to our climate mission, yet it has seen limited innovation over the years. Carmichael Roberts of Breakthrough Energy Ventures stated that it is very rare to find a transmission technology such as TS Conductor with the same potential in terms cost, efficiency, and deployability. “TS Conductor will enable increased electricity demand and greater penetration of renewables at a crucial time.” We are delighted to lead this round with a stand-out team and an outstanding technology.”

“National Grid has committed to reducing our greenhouse gas emissions 90 percent by 2040 and to net zero by 2050, and to accelerating the incorporation of wind, solar and battery storage in our grids in the UK and North America,” said Lisa Lambert, Chief Technology and Innovation Officer of National Grid and the President and Founder of National Grid Partners. “There are very few solutions that enable grid operators to reduce electricity consumption. TS Conductor is the best solution I’ve seen to decarbonize electricity grids. Their product, when combined with a top-notch management team, positions TS Conductor to be a leader in the market.”

TS Conductor was founded in 2018 by Rulong Chen, James Huang and Jason Huang, based on James Huang’s patented conductor design. This new class is made up of a unique combination carbon composite and aluminum encapsulation. These conductors can be used with the same tools as ACSR cables and have the same operating procedures. And they are compatible with industry standard field practice and can be used for:

Line reconductoring, allowing for the doubling of capacity of an existing line without having to change or retrofit any structures.
Energy efficiency upgrades, reducing technical line losses by half without having to change or retrofit any structures.
Insulation upgrades of distribution networks, reducing forest fire risks without having to change the poles or towers.
Building new lines with lower structure costs and/or better characteristics (in capacity, efficiency, insulation).

TS Conductor is also part of the first cohort of Third Derivative. Third Derivative, a global climate technology startup accelerator, was founded by Rocky Mountain Institute, New Energy Nexus and has the mission to create an inclusive ecosystem that quickly funds, scales, and finds climate tech innovation.

About TS Conductor

TS Conductor products allow transmission & distribution grid operators to be active participants to the energy transition – by reducing line losses and accelerating the integration of wind, solar and battery storage – while leveraging existing infrastructure assets. Our products can replace ACSR conductors by using the same tools, and following the same installation procedures. TS Conductor, a Minority Business Enterprise (MBE) and a public benefit corporation focused on sustainable development as well as GHG reduction, is a public-benefit company. For more information visit www.tsconductor.com.

About Breakthrough Energy Ventures

Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has invested more than $2Billion in capital to help entrepreneurs build companies that reduce greenhouse gas emissions. BEV’s strategy combines government-funded research with patient, risk-tolerant capital in order to bring transformative clean-energy innovations to market as soon as possible.

The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.

About National Grid Partners

National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world. NGP invests in strategic and financial impact, and leads companywide disruption innovation efforts. NGP provides a multi-functional approach for building startups. This includes innovation (new business creation), corporate venture capital, incubation, business development, and venture acceleration. NGP has offices in New York, London and Silicon Valley. Visit ngpartners.com or follow us at www.twitter.com/@ngpartners and www.linkedin.com/showcase/national-grid-partners.

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