Nexans Invests in AI Firm Sensewaves to Enhance Grid Management
Nexans has invested in US-based AI company Sensewaves, alongside American Electric Power. The investment aims to improve real-time visibility and management of electrical distribution grids.
Cable manufacturer Nexans announced a minority stake acquisition in Sensewaves, a US-based company specializing in AI-driven grid analytics. The investment was made jointly with American Electric Power (AEP), a major US electricity transmission and distribution utility.
Founded in 2015, Sensewaves offers artificial intelligence-based analytics to improve real-time visibility into distribution networks. Its Adaptix.Grid platform addresses operational challenges for distribution system operators (DSOs) by providing comprehensive insights into low and medium voltage networks. It integrates data from disparate sources to offer detailed information on connectivity, energy flows, congestion, and power quality.
The investment from Nexans and AEP is intended to support Sensewaves' growth, the deployment of Adaptix.Grid, and its expansion into new markets. This move aligns with Nexans' strategic shift from a product-centric to a customer-oriented approach, incorporating services, systems, and software solutions.
Sensewaves will utilize the funds to strengthen its product development and commercial teams, aiming to accelerate innovation and expand into key geographic areas. AEP noted that Sensewaves has already provided valuable insights into their Texas network, enhancing its reliability.