National Grid Partners (NGP) serves as the eyes and ears of the business, searching for innovations to keep National Grid at the forefront of the energy industry. As the corporate investment and innovation arm of one of the world’s largest investor-owned energy companies, NGP is helping drive the transition to a more digitized, smarter, and renewable energy system. It does so by investing and collaborating at the intersection of emerging technology and energy.
What They Do
Carbon Lighthouse offers real estate investment trusts (REITs) and commercial real estate owners a guaranteed dollar amount of energy savings and carbon emissions via its patented AI technology platform, CLUES®. Through its patented thermodynamic model and deep-data approach, Carbon Lighthouse continuously optimizes building performance to minimize energy waste and reduce carbon emissions. IoT sensors and AI-powered software – not expensive capital upgrades – allow Carbon Lighthouse to unlock hidden returns in existing building mechanical systems and turn energy efficiency into tangible long-term savings.
Why NGP Invested
NGP was impressed with Carbon Lighthouse’s proprietary building analytics software and guaranteed savings model as a unique solution for the commercial and industrial (C&I) customers and REITs in National Grid’s service territories. This was clear to the NGP team not only from Carbon Lighthouse’s demonstrated successes across its broad customer base – including Goldman Sachs, Tesla, Hawaiian Airlines, The Carlyle Group, L&B Realty Advisors, The Moinian Group, and many more – but also by its position as an industry leader in energy efficiency and greenhouse gas (GHG) reductions. In fact, Carbon Lighthouse was recently named a winner of Fast Company’s 2020 World Changing Ideas Award in the ‘AI and Data’ category.
The bottom line is Carbon Lighthouse’s technological successes, its recognition as an industry leader in a sector that is projected to reach $360 billion by 2026, and its hands-on approach to addressing climate change provided NGP ample reasons to invest in Carbon Lighthouse.
Energy Efficiency Use Case — Benefits to National Grid and the Communities We Serve
Our investment in Carbon Lighthouse will enable National Grid to maintain its position as a leader in energy efficiency, especially since GHG emission reductions are a core part of our business objectives. By providing guaranteed energy savings of 10-30% on average for C&I customers, Carbon Lighthouse is positioned to help bolster National Grid’s role in combatting climate change and supporting the sustainability goals of the communities we serve.
“It is rare to find investors who understand energy very well, who understand technology very well and who understand real estate very well, and Carbon Lighthouse operates in the highly complex intersection of these three markets. The National Grid team’s understanding of these markets ensures we’re aligned in achieving our mission of stopping climate change by delivering climate, financial and operational value for commercial real estate – one of the biggest contributors of CO2.” – Brenden Millstein, CEO and Co-Founder, Carbon Lighthouse.
Leading the way and delivering impact
One recent example of Carbon Lighthouse’s progress within National Grid is its designation as a National Grid Project Expediter for our Downstate New York, Massachusetts, and Rhode Island service territories.
“Project Expediters are energy efficiency companies that undergo a rigorous selection process to work closely with National Grid’s own C&I energy efficiency teams. We are delighted that Carbon Lighthouse has joined us together with a leading list of vendors who share the goal of maximizing the energy savings of our business customers,” says John Isberg, Vice President National Grid U.S. Customer Solutions.
With NGP’s support, Carbon Lighthouse will continue working with National Grid and our C&I customer base in Massachusetts, New York, and Rhode Island to deliver sustainable long-term energy efficiency solutions. Together with Carbon Lighthouse, National Grid can help our communities save money and combat climate change today.