LineVision Inc. successfully closes Series A investment round
June 6, 2018, Louisville, KY- Genscape, Inc., the leading global provider of data and intelligence for commodity and energy markets, announces the successful spin-out of its LineVision business. The new entity, LineVision, Inc., provides secure non-contact transmission line monitoring, conductor asset management, and dynamic line rating solutions to electric utilities worldwide.
LineVision is the brainchild of Genscape, a company known for developing deployable innovative sensor technologies to create real-time information on supply and demand dynamics in energy markets. In recent years, the Genscape research and development team started to adapt the proprietary electromagnetic field (EMF) sensor platform to provide cost-effective transmission line monitoring services to utilities. Over the last two years, Genscape refined the technology and completed several successful pilot deployments with transmission line owners and regional grid operators to give life to a new product, LineVision. While LineVision shares EMF sensor technology with Genscape, it serves a distinct market of regulated utilities which is outside Genscape’s core business, a distinction that opened the door for Genscape to position LineVision as its own innovative organization.
LineVision recently closed a Series A investment round with backing from the management team, angel groups, and industry veterans. Genscape will retain a minority stake in the new entity and will continue to support the business as a supplier and strategic partner. Additionally, Chris Seiple, Genscape’s Managing Director of Power, will join LineVision’s Board of Directors.
“LineVision is a disruptive solution that will revolutionize the way transmission system operators optimize their system,” said Jon Ecker, CEO of Genscape. “With the recent spin-out, the LineVision team can be laser-focused on their product development and customer needs. I’m excited that Genscape will maintain a minority stake in LineVision in an arrangement that puts LineVision on a path toward independent success.”
“We’re grateful to Genscape for its continued support, and excited for LineVision’s future,” said Hudson Gilmer, CEO of LineVision. “The patented non-contact sensor technology developed by Genscape gives LineVision a strong competitive advantage, and through our ongoing supply agreement, we will continue to leverage Genscape’s resources to serve our utility clients.”
To view the full press release, visit: Genscape Announces Spin-Out of LineVision Inc., a Company Focused on Electric Utility Transmission Line Monitoring, Conductor Asset Management, and Dynamic Line Rating
Based in Boston, MA, LineVision combines advanced non-contact sensor and analytics technologies to give utilities more reliability, capacity, flexibility and reliability on their transmission lines. For more information, please visit www.linevision.co
Genscape is the leading global provider of near-real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency. For more information, please visit: www.genscape.com
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