In an era of increasing energy demand and aging infrastructure, an international technology company has captured the attention of global investors and the White House with a deceptively simple solution: small, sphere-shaped sensors nicknamed "Magic Balls."
Heimdall Power, a technology firm with a presence across Europe, Asia, and the United States, announced today that it had secured $25 million in Series B funding to scale up its innovative approach to power grid optimization. The round was co-led by Orlen, a Polish energy giant, Nordic cleantech fund NRP Zero, and the Steinsvik Family Office.
At the heart of Heimdall's technology are its Neuron sensors – the aforementioned "Magic Balls" – which can be rapidly installed on live, high-voltage power lines by autonomous drones. These sensors provide real-time data on weather conditions and line capacity, allowing utility companies to dramatically increase the amount of electricity transmitted through existing infrastructure.
"Heimdall Powers Neurons are a game changer by being the first scalable grid sensor of its kind, unlocking both additional capacity from the existing power gird and adding reliability," said Jørgen Festervoll, CEO of Heimdall Power. "As an example, Heimdall Power installed the largest Dynamic Line Rating project in the US in just 8 days using our autonomous drone installation system. And with our unique integration technology it only took two days to integrate the data into the customers EMS/Scada system."
This speed of deployment stands in stark contrast to traditional grid expansion projects, which can take a decade or more to complete. The urgency of such solutions is underscored by the U.S. government's ambitious goal to upgrade 100,000 miles of transmission lines over the next five years.
Heimdall's technology has already proven its mettle in the American Midwest. In March, Minnesota's Great River Energy, which serves 1.7 million customers, installed 52 Neuron sensors across its grid – the largest such project in the United States to date. Early results have been promising, with a pilot deployment yielding a 42.8% average increase in transmission capacity on a key line.
The success of projects like these has not gone unnoticed in Washington. Heimdall Power was recently invited to the White House, a recognition that Festervoll sees as crucial for accelerating the adoption of Grid Enhancing Technologies.
"The fact that the White House hosted an event on grid optimization with a focus on the need for Grid Enhancing Technology speaks volumes to the importance of our technology. The support from the White House is important to bring the topic on the agenda and speed up the adoption of the technology," Festervoll told E+E Leader.
Investors, too, are taking notice of Heimdall's potential to reshape the energy landscape. Marek Garniewski, President of the Management Board at Orlen VC, praised the company's groundbreaking technology. "The ability of Heimdall's solutions to increase grid capacity by 40% is not just impressive, it's transformative," he said.
Patrick Sandahl, Investment Director at Investinor and a Heimdall board member, echoed this sentiment. "Their technology has already started to reshape the entire energy sector," he stated.
As utilities worldwide grapple with the dual challenges of meeting growing energy demands and transitioning to renewable sources, solutions like Heimdall's Neurons offer a tantalizing prospect: the ability to squeeze more capacity out of existing infrastructure without the need for lengthy, expensive upgrades. This innovative approach not only promises to increase grid efficiency but also has the potential to significantly reduce carbon emissions and lower costs for consumers by maximizing the use of existing infrastructure.
"Heimdall Power already has more than 40 customers in 17 countries, so our technology is already well proven, commercially available and ready to deploy at scale. The funding will mainly be used to expand our commercial operations globally with a special focus on the US," said Festervoll.
In the high-stakes world of power transmission, these "Magic Balls" may just prove to be the trick up the sleeve that grid operators have been waiting for. As the energy landscape continues to evolve, all eyes will be on Heimdall Power and its innovative approach to keeping the lights on in an increasingly electrified world.
