Urbint, the leading AI resiliency platform for identifying and mitigating threats to workers, critical infrastructure, and communities, announced that it has acquired StormImpact, an AI company that predicts the risk of storms, wildfires, and floods for utility infrastructure.
Urbint uses AI and the latest industry science to identify threats to workers and infrastructure to stop safety incidents before they happen. Urbint surfaces risk at the point of work, enabling energy and infrastructure companies to prevent worker injuries and asset damages. Many of the largest energy and infrastructure companies in North America trust Urbint to protect workers, assets, communities, and the environment.
Weather-related disruptions to the U.S. power grid cost utility companies an average of $70 billion annually. Utilities also face unsustainable pressure on infrastructure reliability and public safety. By combining best-in-class AI with advanced industry science, Urbint is helping utilities uniquely address these challenges.
Corey Capasso, Founder & CEO at Urbint
“Having this intelligence at a granular subcircuit level helps utilities proactively navigate a major weather event by translating a weather forecast into operational decision making,” said Corey Capasso, Founder and CEO of Urbint.”This strategic acquisition combines Urbint’s existing Storm Response platform with StormImpact’s AI capabilities, empowering utilities to secure the right amount of resources and pre-stage crews in the right locations prior to outages.”
StormImpact Inc., founded in 2022, delivers a powerful machine learning platform that predicts weather-related damages and power outages for electric utilities days in advance, combining AI with deep domain expertise to forecast the specific location and magnitude of infrastructure risk and damage. Built on decades of experience in atmospheric science, meteorology, climatology, weather data analytics, storm impact modeling, and supercomputer simulation, StormImpact’s technology is designed to provide the most accurate predictions possible in the face of increasingly severe global weather events. Its solutions are already being used in over 15 states by some of the nation’s largest utility companies, including Southern Company, American Electric Power, and First Energy.
The StormImpact team originated from The Ohio State University and brings significant domain expertise in storm science, planetary science, meteorology, and geology and builds upon 20 years of academic work accomplished by its founders. In 2023, the company received funding from NASA to further advance its research and development initiatives.
Steven Quiring, Chief Scientist & Co-Founder at StormImpact Inc.
“We’re excited to be part of a larger resiliency solution for utilities and to continue to help mitigate the impacts of storms and other extreme weather events at a larger scale,” said Steven Quiring, co-founder of StormImpact and Professor of Atmospheric Sciences at Ohio State. “By joining Urbint, we’ll be able to maximize the impact of our technology and help more utilities and communities.”
This acquisition demonstrates Urbint’s continued efforts to further invest in resiliency and follows Urbint’s previous acquisitions of Competers and WRM Software. The Miami-based company also recently closed a $35 million strategic investment round led by S2G Investments.
To learn more about Urbint, visit www.urbint.com