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Kevala, the startup that collects and analyzes energy grid infrastructure data for utility companies, renewable energy providers, EV charging companies, regulators and other energy industry stakeholders, has raised $21 million in a Series A round. The company says it will use the funds to grow its team from 60 employees to around 100 by the end of 2021 and increase the deployment of its grid analytics tools. Kevala’s Assessor Platform, its interactive cloud-based grid analytics toolbox, allows a range of energy industry stakeholders to leverage massive quantities of data the company has collected from public sources, as well as from its clients.
The renewable energy industry is booming as wind and solar power plants are built around the world at costs that compete with fossil fuels, even without subsidies. And there are technologies that could drive another phase of growth as energy storage, fuel cells, electric vehicles, and smart homes emerge in the market. With as much growth as there's been, renewable energy stocks have had a hard time gaining traction over the past decade.
Massachusetts attorney general Maura Healey has called on the Massachusetts Department of Public Utilities (DPU) to open an investigation into the future of the natural gas industry as Massachusetts transitions away from fossil fuels and toward a clean renewable energy future by 2050. Massachusetts could become the third state to launch a regulatory proceeding to proactively manage the state’s transition away from natural gas.
Energy major Chevron Corp. has taken a big step towards the electric car business. It will be offering electric car charging ports at some of its gasoline stations in California. Back in November, Chevron invested in ChargePoint Inc. which is one of the biggest electric vehicle charging network. GM of Chevron said, "We are always exploring how to evolve our offering, helping improve the consumer experience".
Every new technology has to qualify well for successful execution. Enough buzz has been created around electric vehicles. Reportedly, Indian government officials have refused to use electric vehicles developed by Tata Motors and Mahindra owing to poor mileage and performance. Though e-Mobility is on the agenda by 2030, huge concerns remain in the background. Certainly, sustainable future is the larger goal but oil is here to stay.