STAMFORD, Conn., June 23, 2022 (GLOBE NEWSWIRE) -- Noteworthy AI announced today that it is one of seven startups selected to be a part of Cohort 10 of the Joules Accelerator program. This will be Noteworthy AI's second accelerator this year, coming just after its acceptance into Dominion Energy Innovation Center's ("DEIC") 2022 Accelerate cohort last month.
"As we transition to a decarbonized future, an increasing number of distributed energy resources will come online," said Christopher Ricciuti, founder and CEO of Noteworthy AI. "We're humbled by our acceptance into the Joules Accelerator, which enables us to pilot our technology alongside industry leaders to help ensure that the distribution grid is up to the task."
The Joules Accelerator works closely with early-stage energy tech startups to find revenue-generating pilots and other commercialization opportunities. Its network members include Duke Energy, Microsoft, S&C Electric, EY, UNCC, the City of Charlotte, and more.
"As more utilities and corporates begin to think about decarbonization through the lenses of innovation, early-stage startups, and piloting fresh technologies, we are excited to bring the seven startups of Cohort 10 to the table. Only about 30% of decarbonization needs are currently met. To close the gap of the last 70%, we will need to lean on the innovators of today to get there," said Ryan Rutledge, Business Development Director at the Joules Accelerator.
This year, the program will kick off at Electrification 2022, hosted by Electric Power Research Institute (EPRI) in Charlotte, North Carolina. During this event, startups will participate in pitch events, workshops, and conversations around advancing a clean energy future.
Anne Haas, Program Co-Lead at EPRI, said, "Meeting the needs of our global energy future is going to depend on the ability to decarbonize, electrify, diversify — inherent in all of this is innovation. Electrification 2022 is focused next on the future, on innovation, where we're headed, what technologies can get us there and what challenges lie ahead."
About Noteworthy AI
Noteworthy AI, a Techstars portfolio company, provides AI-powered asset inspection and inventory analysis solutions for energy distribution grid operators. The company's cloud-based software and computer vision solution, Inspector, reduces the need for dedicated distribution asset inspections and mitigates risk at-scale while reducing cost. The Inspector hardware sensors and AI edge processing arrays mount on existing fleet vehicles and automatically geolocate, inventory, and identify pole-top component defects while vehicles perform routine operations, reducing the need to mobilize dedicated inspection teams. Learn more about Noteworthy AI and its mission here.
About Joules Accelerator
Joules Accelerator enables the growth of high-potential clean energy startups by facilitating training, mentoring and access to utilities, customers and key industry players through the bi-annual Catalyst Program based in Charlotte, North Carolina. Since its 2013 founding, Joules Accelerator has supported the creation of 90 jobs, $15 million in investment and seven pilot projects. Learn more about the program here.