In response to the escalating frequency and severity of extreme weather events globally, Neara, headquartered in Redfern, New South Wales, Australia, has intensified its efforts to assist utility companies and energy providers in mitigating risks. The startup specializes in developing models of power networks to anticipate and manage threats like wildfires and flooding. Recently, Neara unveiled AI and machine learning solutions aimed at generating comprehensive network models and evaluating vulnerabilities without the need for manual inspections, thus streamlining risk assessment processes.

Since its commercial launch in 2019, Neara has garnered substantial investment, totaling $45 million AUD (approximately $29.3 million USD), from backers such as Square Peg Capital, Skip Capital, and Prosus Ventures. Among its clientele are major players like Essential Energy, Endeavour Energy, and SA Power Networks, while collaborations extend to entities like Southern California Edison and EMPACT Engineering.

Neara's AI and machine learning capabilities have already been integrated into its platform, serving utility providers worldwide, including Southern California Edison and SA Power Networks in Australia, as well as ESB in Ireland and Scottish Power. Co-founder Jack Curtis highlights the imperative of enhancing utility infrastructure resilience, emphasizing the significant costs associated with maintenance and the consequences of system failures on consumers. By harnessing AI and machine learning, Neara aims to expedite power restoration processes, enhance operational safety, and minimize the impact of adverse weather conditions on electricity supplies.