NewGrid, Inc. Joins Greentown Labs as Newest Member Company
Somerville, MA – May 3, 2016 – Today NewGrid, Inc. announced its membership within Greentown Labs, the largest cleantech startup incubator in the United States. With nearly 50 member companies on-site, Greentown Labs is a community of like-minded entrepreneurs who are working to solve the world’s biggest energy and environmental challenges.
Founded in 2015 out of the DOE ARPA-E Green Energy Network Integration program, NewGrid is focused on providing decision support software tools to Regional Transmission Organizations, transmission owners, and electricity market participants. NewGrid’s software, NewGrid Router, helps its clients unlock potential flexibility in the transmission system. Router recommends transmission reconfigurations that increase the efficiency and reliability of the grid. Extrapolation from detailed market simulations indicate that topology optimization can provide cost savings in excess of $2 billion annually in the US and significantly ease renewables integration.
By joining Greentown Labs, NewGrid will have access to expert advisors and mentors, a national network of strategic partners and investors, and resources including a range of software tools and various in-kind service providers.
“Since our founding five years ago, our focus has been steadfast on one mission: to support the growth and success of cleantech startups,” said Emily Reichert, CEO of Greentown Labs. “We’re thrilled NewGrid has joined our community and will call Greentown Labs home as it continues to grow in the coming months. We’re eager to see the impact NewGrid’s Router will have on the industry!”
“As a team, we felt Greentown Labs represented a hub of clean tech innovation and entrepreneurship,” said Pablo Ruiz, CEO and co-founder of NewGrid. “We believe it is the best place to grow our company as we continue to develop Router. It is encouraging to be part of a community of like-minded companies who are working to transform the energy space.”
Greentown Labs is located just outside of Boston in the buzzing Union Square neighborhood of Somerville, MA. It operates a 40,000 sq. ft. facility of prototyping lab and co-located office space. In 2017 Greentown Labs will expand its footprint with the opening of the Greentown Labs Global Center for Cleantech Innovation. The Center will add an additional 50,000 sq. ft. to its offering and will be located nearby Labs’ current location.
About NewGrid, Inc.
NewGrid is a software firm in the utilities industry, focused on the development and commercialization of topology optimization technologies. NewGrid’s software supports power operations and operations planning decision making including outage scheduling and coordination, seasonal contingency planning, remedial action plan and operating guide (Op. Guide) development, and congestion management. Our team is made of engineers, researchers, software developers and economists with years of experience in power systems and markets analysis and design. NewGrid’s founders are thought-leaders in the applications of topology optimization technology to power system operations. With DOE ARPA-E support, they led the first team to ever produce security-constrained topology re-configurations on large-scale RTO systems automatically, with practical calculation times. For more information, visit www.newgridinc.com, or find us on Twitter or LinkedIn.
About Greentown Labs
Greentown Labs is a community of bold, passionate entrepreneurs creating game-changing energy technologies that transform the way we live, work, and play. Located in Somerville, MA, Greentown Labs is the largest cleantech incubator in the United States, operating a 40,000 sq. ft. facility that enables entrepreneurs to solve today’s biggest energy and environmental problems. Greentown Labs hosts a constant stream of events and programs for the cleantech community and tours more than 5,000 visitors from around the world each year. Its mission is to enable a vibrant community of entrepreneurs to realize their visions by providing access to the space, resources, and funding needed to thrive. For more information, visit www.greentownlabs.com, or find us on Twitter, Facebook, or LinkedIn.
NewGrid Media Contact
Greentown Labs Media Contact