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Splight Inc. secures $12M in seed funding to tackle the energy industry’s biggest problem: energy curtailment

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SAN FRANCISCO, July 24, 2024 /PRNewswire/ — Splight, an AI startup at the forefront of grid operations technologies, today announced the completion of its seed funding round. The $12M round was led by noa (formerly A/O) and joined by EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, and the UC Berkeley Foundation, among others.

This capital infusion will support the company’s mission to address the global, multi-generational challenge of clean energy at scale, expanding its North America and EU presence and continuing to grow its development, implementation, and leadership teams to keep up with growing demand.

Grid congestion, also known as grid bottlenecks, is a shortage of transmission capacity caused by the grid’s reliance on outdated contingency management methods that leave up to half of grid transmission capacity unutilized. These bottlenecks lead to up to 40% of renewable energy generation being wasted and thousands of gigawatts of renewable energy projects waiting in queues to be connected to the grid.

As electrification increases across all industries, renewable energy supply and efficient grid operations are essential to meet growing demand. Renewable energy power plants, Distributed Energy Resources (DERs) and batteries are booming, but until now the industry lacked the technology to manage them at scale.

Splight has developed new AI-based technology for advanced grid operations that tackles congestion using inverter-based resources (IBRs) as a source of reliability. It significantly reduces curtailment and accelerates the connection of utility-scale renewable power plants and the deployment of DERs and batteries. Its technology takes a novel approach, using real-time data and algorithms to use IBRs as grid-friendly assets.

By using Splight technology to tackle contingencies in real-time, up to 2x extra transmission capacity is unlocked, enabling terawatts of clean energy to be injected into the grid while simultaneously adding reliability. The no-tradeoff solution is transformative for grid operations: Splight’s tech is the key to prevent clean energy being wasted and facilitate the deployment and connection of renewable energy, DERs, and batteries at the pace needed and with the existing transmission infrastructure.

“Our technology is proven and commercially viable: we are solving grid congestion while adding reliability. It can be deployed fast enough to inject more than 3,000 GWs of clean energy within months. This round is a huge vote of confidence and will be used to expand our business globally,” said Fernando Llaver, CEO of Splight.

Thomas Vadora, CTO of Splight, said: “This investment is a significant milestone on our journey and will accelerate our growth, enhance our product offerings, and deliver huge value to our customers.”

The funding round attracted diverse investors, including climate tech and energy specialized venture capital firms, industry leaders, and university endowments. The investors have a global footprint covering the UK, the US, Portugal, Spain, Brazil, Chile, Mexico and Argentina.

Kia Nejad, Investor at noa, said: “Energy curtailment is perhaps the most pressing issue for the transition to a sustainable energy system. Splight’s technology is a far more practical approach for modernizing the energy grid to meet current demands. We are excited to support Splight as they lead the implementation of scalable grid software, with an established presence amongst industry-leading customers in Europe, the US, and Latin America.”

About Splight

Splight is a pioneering AI startup that addresses the global, multi-generational challenge of clean energy at scale. It takes a fresh approach, using real-time data and AI algorithms to bridge the gap between technology and energy. It unlocks millions of terawatts of clean energy trapped by how energy grids are operated.

Splight adds a real-time operational layer and increases reliability to the grid. This new layer of reliability based on flexibility enables unleashing up to 2x of transmission capacity, massive adoption of EVs and DERs, making the most out of the use of batteries and reaching net zero electrical grids years ahead of any other alternative. 

This new approach solves the grid’s biggest problems faster and more efficiently than any other solution available today.

Splight was founded by Thomas Vadora, Fernando Llaver, and Carlos Caldart. Their backgrounds span computer science, electrical engineering and deep experience in the energy industry, culminating in the vision to revolutionize energy and sustainability through technology.

For more information, visit www.splight-ai.com.

About noa

noa (formerly A/O) is Europe’s largest built world venture capital firm and partners with the most talented founders, engineers, executives and thought leaders on revolutionary, category-leading investments to drive disruption in real estate and positively impact the entire built world ecosystem and beyond.

Launched in 2019 as A/O, noa closed its first evergreen vehicle with €250m, backed by some of the largest and most forward-thinking real estate owners, operators and family offices in Europe who share noa’s vision and commitment to improving quality of life, accelerating sustainable living, and enabling decarbonisation of the largest asset class in the world.

For more information, visit www.noavc.com.

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China’s invention patents highlighted at Beijing conference

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BEIJING, Sept. 10, 2026 /PRNewswire/ — A news report from China Daily:

China currently holds over 5.39 million valid domestic invention patents and 50.82 million valid domestic registered trademarks, according to the nation’s top intellectual property regulator.

The figures were announced by the China National Intellectual Property Administration at this year’s China Intellectual Property Annual Conference, taking place in Beijing from Tuesday to Wednesday.

The administration said China has led the world in Patent Cooperation Treaty (PCT) applications for seven consecutive years. Additionally, the country ranks among the top globally for filings of industrial designs under the Hague System and international trademarks under the Madrid System.

With the theme of promoting high-quality IP development during the 15th Five-Year Plan period (2026-30), the annual conference will include one main forum, 13 sub-forums, and over 20 activities focused on topics such as artificial intelligence, patent services, and the newly revised Trademark Law.

Since its launch in 2010, the conference has become one of Asia’s largest and most influential IP events. It serves as a platform to showcase China’s achievements in the IP sector, foster forward-looking discussions, connect service providers with innovators, and enhance China’s international role in IP governance.

 

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baraka launches investments on DFM and ADX for UAE investors

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Eligible customers can invest in companies listed on Dubai Financial Market and Abu Dhabi Securities Exchange through baraka, with local investments funded in AED.More than 70% of baraka investors are under 35, highlighting the growing participation of younger investors in regional capital markets.UAE-listed companies join nearly 10,000 local and global assets available through one baraka account.Investor Number issuance is supported through baraka’s onboarding flow, removing the need for a separate application outside the platform.The launch forms part of baraka’s evolution into a broader investment platform spanning local and international securities, Shariah-compliant investment choices and precious metals.

DUBAI, UAE, Sept. 10, 2026 /PRNewswire/ — baraka (www.getbaraka.com), the DIFC-based investment platform regulated by the Dubai Financial Services Authority, today announced that eligible customers can now invest in companies listed on Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) directly through the baraka app. baraka’s customers from more than 100 nationalities will be able to fund local investments in AED.

The launch marks the latest stage in baraka’s evolution into a comprehensive investment platform spanning UAE and US securities, options trading, Sharia-compliant investment choices and precious metals (Gold, Silver), including physical delivery, giving customers access to nearly 10,000 assets across local and global markets through one account.

Local-market access has consistently been one of the most requested features among baraka customers, reflecting demand to invest in the UAE enterprises they interact with every day. By August, the number of customers investing in UAE stocks through baraka had increased more than 25x from an initial pre-launch pilot.

The UAE stocks that have attracted the most interest from baraka customers include Emaar Properties, ADNOC Gas, ADNOC Distribution, Abu Dhabi Islamic Bank and Salik, spanning real estate, energy, banking and infrastructure.

The launch comes as activity across the UAE’s domestic capital markets continues to deepen. DFM ended June 2026 with a market capitalization of AED 981.6 billion after total traded value rose 40.4% year on year to AED 119.5 billion during the first half of the year. Average daily traded value reached more than AED 1 billion. DFM also added 42,864 investors during H1, with international investors accounting for 71.4% of new registrations.

ADX had a market capitalisation of AED 2.8 trillion at the end of June 2026, with H1 trading value of AED 171 billion and total trading volume of 50.3 billion shares. The exchange added more than 30,000 investors during the period, of whom 77% were foreign.

The expansion of the UAE’s listed markets has been accompanied by a broader drive to increase capital formation and investor participation. Dubai’s Financial Sector Strategy includes initiatives to encourage more family businesses and start-ups to list, while Abu Dhabi’s AED 5 billion IPO Fund was established to support private-sector businesses through the listing process and deepen the emirate’s capital markets.

Feras Jalbout, Founder and CEO of baraka, said: “The opportunity set in the UAE has expanded dramatically, with the businesses shaping the country’s growth now accessible through its public markets. For Emiratis and residents, this is an opportunity to own a stake in the economy and build their future through equity investments. Bringing DFM and ADX stocks to baraka means our customers can build portfolios that reflect both global opportunities and the economic champions of the place they call home.”

Among customers who joined baraka in 2026, 42% selected long-term investing as their objective. Around two thirds of baraka’s funded customers had never invested before joining the platform, making baraka the starting point for a significant share of its investor base.

Since the availability of local investing, 87% of UAE-stock orders placed through baraka have been purchase orders, an early indication that customers are building long-term positions in UAE companies.  The median annual amount deposited by an active baraka investor has roughly tripled since over the past four years.

Khalifa Rabba, Chief Operating Officer, Dubai Financial Market (DFM), said: “Expanding access to DFM-listed securities through regulated digital investment platforms supports our ongoing efforts to broaden market participation and enhance investor accessibility. The integration with baraka enables investors to incorporate local stocks more seamlessly into diversified portfolios alongside other asset classes, supporting easier access to market opportunities and enhanced investor experience.”

Omar Alserkal, Director – Product & Market Development at Abu Dhabi Securities Exchange (ADX), said: Brokerage and investment platforms, like Baraka, are playing an increasingly important role in capital markets and enhancing the investor experience.  This new access to ADX-listed securities via the Baraka platform bolsters our commitment to making Abu Dhabi’s capital market more accessible, connected, and responsive to the evolving needs of investors. This collaboration enables a broader investor base to participate in the growth of leading UAE companies, while reinforcing ADX’s role in advancing market depth, innovation, and long-term investment opportunities.”

Local stocks are funded in AED and are held in the names of baraka customers. Investors purchase whole shares, with UAE securities held under the custodianship of Emirates NBD. Eligible investors may also receive dividends paid by UAE-listed companies, providing opportunities to generate income alongside potential long-term capital growth.

In July 2026, Baraka Financial Limited received approval from the DFSA on their Islamic Window application which now allows the company to offer both Conventional and Shariah Compliant Assets. baraka enables customers to invest in accordance with Sharia principles through its Sharia Screener, which covers eligible stocks and ETFs across both the US and UAE markets and plans to roll out more Shariah Compliant products in the coming few months. Around 58% of funded baraka customers have used the screener, demonstrating strong demand for Sharia-compliant investing.

Residents and citizens aged 18 and above across the GCC can access the baraka app through the Apple App Store and Google Play. The addition of ADX and DFM stocks onto the baraka platform is facilitated by Arqaam Capital through Direct Market Access facility.

Note to editors

baraka is always written in lowercase. We kindly request the use of a do-follow link to www.getbaraka.com when referencing baraka in online coverage.

About baraka

Founded in 2021, baraka is a UAE-based investment platform that gives people across the UAE and GCC access to local and global investment opportunities through one account.

Investors can access nearly 10,000 assets across UAE and US markets, including local stocks, US stocks and ETFs, options trading, Sharia-compliant investment choices and precious metals, subject to eligibility and product availability.

Through its app, investment academy and financial education content, baraka helps users build their knowledge, follow the markets and manage their investments.

baraka Financial Limited is registered in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority.

For more information, visit www.getbaraka.com.

baraka is an investment platform. Capital at risk. Nothing in this document constitutes investment advice. Do your own research before investing.

About Dubai Financial Market:  

Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company, and its shares were listed on 7 March 2007 with the trading symbol (DFM).  Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae 

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

Photo – https://mma.prnewswire.com/media/3008972/baraka_DFM.jpg

 

 

 

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AI isn’t saving teachers time – it’s another thing to mark according to research by Up Learn

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Almost three quarters of teachers rank accuracy as their top AI concern, and more than half say checking its outputs outweighs the time saved.

LONDON, Sept. 10, 2026 /PRNewswire/ — The debate around AI in schools has largely centred on plagiarism and cheating, yet new research, from online learning platform Up Learn, shows students and teachers are more concerned about accuracy and whether AI can be trusted to get things right.

In a survey of over 2,800 students and teachers, accuracy or reliability of outputs ranked as the single biggest concern for teachers using AI, cited by 73%. More than half (56%) of teachers surveyed said the checking required means it may not save them time at all, and a similar proportion (54%) doubted the quality would match their own teaching standards.

Beyond accuracy, nearly half (48%) flagged misalignment with exam boards and specifications and a third (33%) cited privacy and safeguarding concerns.

Yet both groups keep using AI at scale. More than two thirds of teachers leverage the technology in their day-to-day work – most often on at least a weekly basis. Only 8% reported no concerns at all, with the remainder pointing to concerns such as lack of guidance or training (19%), safeguarding issues (33%), and overreliance (40%). 

Students report the same doubts. Accuracy topped their list too, at 74%, making it a rare point of agreement across the classroom. Cheating was cited by only one in four students, well behind fears of becoming too reliant on AI (65%) and losing the ability to think for themselves (47%).

How students say they use it explains the gap. They were far more likely to turn to AI to explain difficult concepts (80%) and create summaries (61%) than for essay-writing support (40%).

If students are turning to AI to be taught rather than to cheat, the question is not about discipline but the tool’s fitness for purpose.

Guy Riese, CEO and founder of Up Learn, says: “AI is solving an education gap. Students are using it to understand things they’ve been taught but haven’t grasped and they are rightly sceptical about the answers they get. This is where we need to support students – by helping them turn that scepticism into a skill: knowing when AI has got it right, and when to look again. AI is part of the new normal, students need to be equipped with tools and techniques that enable them to use it with trust.” 

Riese suggests three questions teachers can apply to any AI-generated resource before it reaches a classroom, and teach students to apply themselves:

Can it be checked? Before using any resource for their learning, ask where did the answer come from, and was it built by subject experts?

Is it aligned to the specification? General knowledge about a subject is not the same as being prepared for a specific exam board. General-purpose AI will only return what a student thinks to ask about, which leaves gaps that only surface in the exam hall. Anything set as independent work should be built to the specification being taught.

Who is doing the thinking? Learning should feel hard. This is known as ‘desirable difficulty’ and it’s how you know it’s working. Watching a model produce a worked answer is not the same as producing one. Independent work needs to require retrieval, not recognition, if it’s going to hold until results day.

Notes to editors

Methodology

Research was conducted by Up Learn via an online UK survey of 2,591 students and 248 teachers in its contact base between 1 May and 17 August 2026.

About Up Learn 

Up Learn is an adaptive attainment platform for GCSE and A Level, built by teachers and educational scientists. It combines expert teaching, adaptive learning and cognitive science, with AI supporting rather than replacing learning. It is trusted by 685+ schools and used by 1 in 3 A Level students in the UK.

www.uplearn.co.uk

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