Ndustrial, a company specialising in industrial energy optimisation, has announced the successful initial close of its Series B funding round, securing an impressive $18.5m.
The funds raised in this round are earmarked to fuel the company’s growth initiatives and further its mission of driving down energy intensity at industrial facilities, according to ESG Today.
Leading the funding round are electrification and technology giant ABB, alongside South Korean energy-focused company GS Energy.
In addition to the investment, Ndustrial has revealed plans to collaborate closely with ABB and GS Energy to offer its cutting-edge energy intensity solutions to industrial clients.
Stuart Thompson, President of ABB Electrification Service, expressed ABB’s commitment to sustainability, stating, “Championing sustainability and guiding customers to achieve net zero carbon is at the core of what we do. Under this agreement, ABB is adding Ndustrial to our ecosystem of innovative, nimble partners to co-develop advancements in digital solutions to complement our portfolio and enhance the availability, resilience, safety and sustainability of energy for customers.”
Established in 2015 and headquartered in North Carolina, Ndustrial specialises in providing solutions to assist industrial clients in optimising energy consumption, reducing costs, and supporting decarbonisation efforts.
Leveraging artificial intelligence (AI), Ndustrial’s platform seamlessly integrates over 60 production and energy data sources, offering customers real-time insights into energy intensity. This allows manufacturers to effectively manage energy expenditure per unit of production, thereby enhancing efficiency.
The firm’s innovative dashboard empowers manufacturers to monitor data on specific facilities and production lines, facilitating active load management, production optimisation, and advanced carbon intensity measurement and verification.
Notably, Ndustrial stands out as the sole provider of activity-driven Scope 3 carbon emissions data, offering a superior alternative to algorithmic approximations.
According to Ndustrial, its technology has already delivered substantial benefits to global industrial sites, enabling them to directly avoid over $100m in direct energy expenditure. Jason Massey, Founder & CEO at Ndustrial, highlighted the company’s impact, stating, “Ndustrial’s production-aware technology empowers industrial leaders to finally wrap their arms around their data in real-time, understand the relationships between production cycles and energy use, report Scope 3 emissions and take action immediately.”
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