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Exclusive: Amperon nets $20M Series B for grid forecasts

Illustration of a hundred dollar bill stylized as an electric symbol.

Illustration: Aïda Amer/Axios

Amperon has closed a $20 million Series B for its grid forecasting services, Axios has learned exclusively.

Why it matters: The round highlights rising investor interest in prediction services for the energy industry that can help keep systems running ahead of severe weather and demand surges.

How it works: Houston-based Amperon forecasts shifts in demand, solar and wind power generation, and other developments, enabling companies to prepare ahead of time while also keeping tabs on their carbon footprint.

Driving the news: Energize Capital led the all-equity round. D. E. Shaw, Veriten, Ørsted and existing investor HSBC Asset Management joined.

  • Tyler Lancaster, an Energize partner, is joining Amperon's six-person board.

Of note: Amperon declined to disclose the round's valuation.

The intrigue: Amperon says its fastest-growing customer segment is comprised of independent power producers, municipal utilities and electricity co-ops.

  • CEO Sean Kelly says the company is working with electric utilities and a big-box retailer to manage their energy assets.
  • "You look at how many people have committed and put in EV charging — you're looking at a lot of people who aren't traditionally electricity companies," Kelly tells Axios.

What's next: The startup is preparing an expansion with price forecasts and carbon-emissions insights. It's also planning a soft launch in Europe in November.

Editor's note: This story has been corrected to state the company has a six-person board, not five, as it initially indicated.

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