Electricity grids are on the brink of a transformation as the demand for energy and utility infrastructure skyrockets. By 2050, these grids are expected to double in size to accommodate the burgeoning renewable energy sector. However, there's a significant roadblock on the path to meeting net-zero targets: outdated technology and slow development processes.
In this landscape, Edinburgh-based Continuum Industries emerges as a game-changer. This AI-powered company is poised to revolutionize the energy transition by expediting infrastructure development.
Continuum Industries recently secured a $10 million investment in a Series A funding round led by Singular, with participation from existing investors Credo, Playfair, Techstart Ventures, and notable angels, including executives from UiPath, Skyscanner, and SSE. This funding catapults the company's total investment to $15.5 million.
The influx of capital will propel Continuum Industries' expansion across Europe and the US. The company also has ambitious plans to double its workforce within the next year. This growth will not only support clients in implementing their software but also enable the development of cutting-edge functionalities to enhance support across various project phases.
Grzegorz Marecki, co-founder and CEO at Continuum Industries, stated, "We have an exciting and important opportunity to accelerate the march of the infrastructure industry into the digital age and make a lasting impact for people and the planet."
Continuum Industries, founded in 2018 by Grzegorz Marecki, Emil Hansen, and Adam Anyszewski, has set its sights on speeding up the transition to renewable energy. Their innovative AI-powered platform, Optioneer, revolutionizes energy infrastructure planning. What typically takes 12 months can now be accomplished in as little as eight weeks, with a reduced impact on the environment and communities.
Optioneer enables power, utility, and renewables companies to visualize, analyze, and comprehensively assess routing options for various infrastructure elements, from power lines to pipelines. This groundbreaking technology leverages vast computing power, geospatial data, and human intuition to generate shortlists of viable routing options, iterate designs in real-time, and mitigate unforeseen delays.
Continuum Industries is already making waves in the UK, the Netherlands, Spain, Italy, and the USA, with clients such as National Grid, SSEN Transmission, National Gas Transmission, Fred. Olsen Seawind, and Iberdrola Group. Their commitment to transforming infrastructure development is poised to play a pivotal role in the global energy transition.