National Grid Partners (NGP) serves as the eyes and ears of the business searching for innovations that are aimed to keep National Grid at the forefront of the energy industry. As the industry is reshaped by decarbonization, decentralization, and digitization, NGP’s goal is to help National Grid’s core businesses stay on the leading edge.
What They Do
Copperleaf provides decision analytics solutions that enable asset-intensive organizations to develop more effective investment plans for portfolios covering millions of diverse assets. The Vancouver-based company has been named one of Canada’s Best Managed Companies, and one of the Fastest Growing Companies in North America on Deloitte’s Technology Fast 500™. Copperleaf is also a member of the Institute of Asset Management and participates in shaping international asset management standards, such as ISO 55000.
Why NGP Invested
National Grid Partners invests in companies that can be strategically impactful to its business, are growing quickly, and have strong financial prospects. “As the clear leader in asset management decision analytics, with the corresponding high growth of a category leader, Copperleaf is a perfect example of the type of companies we look for,” says Andre Turenne, Director, Corporate Venture Capital at National Grid Partners.
Benefits to National Grid and its customers
National Grid manages billions of dollars of natural gas infrastructure, including over 7,500 kilometers of high-pressure gas pipe in the UK and gas distribution networks that serve 3.6 million customers in the northeastern US. These assets are long-lived, expensive to maintain and repair, and widely distributed geographically. “We recognized early on the need for a solution that would provide us with a single view of our entire portfolio of asset investment needs,” says Tom Bennett, Vice President of Gas Asset Management and System Planning for National Grid.
Copperleaf software allows National Grid to map investments onto a single platform, where they can be analyzed to maximize value while honoring the myriad of constraints of a utility business. “The Copperleaf C55 solution is the driver of how we create our risk-based annual work plans,” says Caroline Hon, Vice President of Resource Planning. Solutions like C55 help National Grid sustain its assets, improve safety, and minimize customer outages.
“National Grid Partners brings the backing of a huge utility that’s respected within the industry and that brings a wealth of knowledge you don’t get with other investors. NGP brings a whole network of companies that are trying to disrupt the energy space just like us.” — Judi Hess, CEO, Copperleaf
What This Means in the Future for National Grid
In the short term, the software is anticipated to make the capital planning process at National Grid less time-consuming. The C55 platform is also expected to improve National Grid’s ability anticipate and manage risks, as well as direct resources more effectively.
“We have been working with Copperleaf to embed the C55 platform in UK Gas Transmission,” says Isabelle Haigh, head of National Grid’s UK Gas Transformation Program. “C55 supports our continued improvement as an asset manager, enabling us to draw on best practices in complying with the ISO 55000 asset management standard.”
With Copperleaf, National Grid will be better positioned to make smarter and safer investment decisions to maximize the performance of its gas network.
This case study contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, many of which are beyond National Grid’s ability to control or predict. Forward-looking statements may be identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. These forward-looking statements involve risks, assumptions, and uncertainties, including, but not limited to, risks related to the ability to realize the anticipated benefits of the investments discussed herein and other risks and uncertainties detailed from time to time in National Grid’s filings with the Securities and Exchange Commission. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date they are made and are not guarantees of future performance. National Grid expressly disclaims any duty to provide updates to any forward-looking statements made in this case study, whether as a result of new information, future events or otherwise.