VEIR

Excited to share that VEIR has been named as one of Silicon Valley Bank and Congruent Ventures’ 50 by 2050: Pioneers in Carbon Reduction. The list features climate tech companies creating carbon reduction solutions to enable a net zero future. Thanks to SVB and Congruent Ventures for including VEIR on this list alongside these transformative companies.

Last week, the VEIR team attended a Red Sox game. We had a fantastic day at Fenway Park, and the Red Sox secured the win. Go Sox!

Today, Vineyard Offshore proposed a $3 million project to support climatetech companies in New England, including VEIR.? ? If the project is selected, VEIR will receive funding for a demonstration aimed at showcasing and maturing VEIR’s technology. This initiative is intended to drive offshore wind adoption, ultimately injecting power into the ISO New England Inc. grid. We look forward to working with Vineyard Offshore on this important project.

Tim Heidel, VEIR CEO and MIT alumnus (’05, SM ’06, SM ’09, PhD ’10) spoke with MIT News about the company’s mission to improve transmission for the power grid transformation.? ? Over more than a decade at Massachusetts Institute of Technology, Heidel went from learning about the fundamentals of electrical engineering to studying the electric grid and the power sector more broadly.?According to Heidel: “I got the energy bug and started to focus exclusively on energy and climate in graduate school.”? ? Check out the story of his education and career highlights as well as VEIR’s milestones to date: https://lnkd.in/e3e24PEG ?

Earlier today, VEIR was at the Massachusetts State House, joining Governor Maura Healey, Lieutenant Governor Kim Driscoll, Economic Development Secretary Yvonne Hao, Energy & Environmental Affairs Secretary Rebecca Tepper, and MassCEC CEO Emily Reichert.?? ? We were honored at an event held in celebration of the 28 Massachusetts climate tech companies named to TIME Magazine’s Top GreenTech Companies 2024 list.???Our team is proud to be among this group recognized for bolstering the strength of the climate tech industry in our home state. https://lnkd.in/eBRXcbyq (photo credit: Joshua Qualls/Governor’s Press Office)

Enhancing our grid is a global imperative. As Europe becomes more electrified, bigger grids with increased capacity will be critical to support the integration of increased renewables.? ? CurrENT Europe, a European trade group focused on innovative grid technologies, recently released a study supported by Breakthrough Energy , examining and analyzing the potential of grid technologies and the role they can play in helping Europe reach its decarbonization goals. ? Congratulations on the release of this important study. VEIR is proud to be a member of currENT. Download the full study here:?https://lnkd.in/eWywpFYb ?

Today at #ClimaTech, Tim Heidel sat down with leaders from National Grid Partners and LineVision discussing the challenge of startups selling to utilities, specifically how to prove concept and deploy solutions at scale. ? We need to deploy grid enhancing technology faster than ever before. AI, electrification of industry, and onshoring of manufacturing are ushering in a new era of load growth, putting pressure on our supply chain, workforce, and grid.? ? While startups are creating transformative technology to help address these issues, the panel has a message to utilities: engage early and offer feedback.?Don’t view tech readiness as?all or nothing – early-stage collaboration between startups and utilities will accelerate innovation for all.

Last week, our team participated in the Free Electrons Program Bootcamp alongside some of the most innovative startups and inspiring industry leaders. We had the opportunity to collaborate with leading utilities, laying the groundwork for impactful work that will help drive the energy transition.

Tim Heidel spoke with Fast Company's Adele Peters about the measures we can take now to boost #PowerGrid capacity. https://lnkd.in/dd2BvQMW

Yesterday the Federal Energy Regulatory Commission (FERC) published Order 1920, "Building for the Future Through Electric Regional Transmission Planning and Cost Allocation”, a landmark regulatory milestone concerning our national power grid. This new rule aims to redirect America’s energy infrastructure toward the future, and VEIR – alongside our peers at? Breakthrough Energy , Grid Strategies LLC, WATT Coalition, American Clean Power Association (ACP), ITC Holdings Corp., Americans for a Clean Energy Grid (ACEG) and many others – thanks the Commission for taking this bold and urgently necessary action toward optimizing regional transmission planning and cost allocation for a net-zero future. At a high level, Order 1920 requires transmission providers: - Engage in proactive, forward-looking regional planning on a five-year basis - Evaluate a minimum set of transmission benefits during cost allocation processes - Consider the use of advanced transmission technologies, such as advanced superconductors We were pleased to see VEIR cited throughout the Order and language provided directly by VEIR comments submitted in 2021 and 2022. Of direct relevance to VEIR and our advanced superconductor technology, Order 1920: requires transmission providers in FERC planning regions to "consider more fully... advanced conductors... in Long-Term Transmission Planning and existing Order No. 1000 regional transmission planning and cost allocation processes.” (Pg. 13, Paragraph 8) requires that transmission providers "must consider... [advanced conductors] when evaluating new regional transmission facilities, as well as upgrades to existing transmission facilities." (Pg. 846, Paragraph 1198) requires that, "as part of each Long-Term Regional Transmission Planning cycle, transmission providers in each transmission planning region evaluate whether transmission facilities (1) operating above a specified kV threshold and (2) that an individual transmission provider that owns the transmission facility anticipates replacing in-kind with a new transmission facility during the next 10 years can be 'right-sized' to more efficiently or cost-effectively address a Long-Term Transmission Need." (Pg. 1168, Paragraph 1677) Ultimately, Order 1920 concludes that "advanced conductors may greatly increase the capacity of transmission facilities, and thus a new regional transmission facility or an upgrade to an existing transmission facility that incorporates advanced conductors may be a more efficient or cost-effective alternative than a proposed regional transmission facility that does not incorporate such technologies." (Pg. 881, Paragraph 1243) To learn more about the impact of Order 1920, check out the story below. https://lnkd.in/esYhqkgy