Neara (Neara AI Utility Protection) is an Australian startup based in Redfern, New South Wales. It is making waves in the utilities sector with its cutting-edge AI and machine learning products. The company’s revolutionary technology permits utility companies and energy providers to create detailed, large-scale models of their power networks. These models can evaluate risks associated with extreme weather events such as wildfires and flooding. It eliminates the need for manual surveys by providing a more efficient and accurate risk assessment.
Extreme weather events have become increasingly severe and recurrent over the past few decades. These events pose significant challenges to utility networks. They often cause extensive power outages and damage to infrastructure. Neara’s technology is designed to help utility networks prepare for and respond to these events in advance. The AI and machine learning features can simulate the impact of extreme weather on electricity supplies before, during, and after an event. This prognostic capability can increase the speed of power restoration. It can also ensure the safety of utility teams and lessen the overall impact of weather events on the power supply.
Since its commercial launch in 2019, Neara has attracted significant investment, raising a total of $45 million (about $29.3 million) from investors. The company’s groundbreaking approach to utility management has harvested attention from major players in the industry. Neara’s customers include Essential Energy, Endeavour Energy, and SA Power Networks. It has also formed partnerships with Southern California Edison Co and EMPACT Engineering.
The introduction of this AI-powered technology marks a significant advancement in the utilities sector. By harnessing the power of AI and machine learning, Neara is helping utility companies better comprehend and manage their networks. It is ultimately leading to more reliable power supplies and improved service for customers.
As Neara continues to revolutionize and develop its contributions, the company is self-confident in playing an essential role in shaping the future of the utilities sector. With its focus on harnessing AI to improve utility management and protect against extreme weather, Neara is setting a new standard for utility services worldwide.
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