Augur Launches Inaugural Energy AI Fund: Advancing the AI to power energy, and the energy to power AI

CALGARY, AB, April 8, 2024 /CNW/ - Augur Capital Management Inc. is proud to announce the first closing of its debut energy fund, Augur Energy AI Fund I LP. The Fund backs early-stage companies that deliver AI solutions for energy infrastructure, and energy infrastructure solutions for AI.

"At Augur, we focus on two things," says Graeme Harrison, Augur Founding Investment Partner and President of Harvest Venture Builders. "First, we invest in AI solutions that can bolster and balance the world's energy systems and infrastructure. These AI solutions have high energy demands, which is why we also invest in advanced energy solutions to power AI inference and training."

Dan Balaban, Augur Investment Partner, and Co-Founder and CEO of Greengate Power sees opportunity at the intersection of AI and energy. "AI is expected to drive unprecedented growth in energy demand over the coming years. This requires innovative energy solutions to meet this fast growing demand. I'm excited to bring my energy and technology experience to the Augur team."

Recent figures from energy and AI leaders alike highlight that power grids will struggle to satisfy the growing energy demands of AI. "Novel off-grid energy solutions provide an alternative path to power the GPU clusters that perform AI tasks, without breaking the power grid," states Dan Chapman, Augur Founding Investment Partner, power and energy storage industry veteran. "We see synergies and urgency to rapidly generate and accelerate energy AI solutions for both energy and AI companies."

The Fund has been actively investing in standout energy AI portcos to date, including:

• Pano AI - early wildfire detection. Forbes Top 10 AI company
• Daedaline - GPT for datarooms. The first custom LLM for energy infrastructure M&A
• HyLight - autonomous airships monitoring methane releases from linear infrastructure
• GPU StealthCo - a proprietary power tech stack specifically designed to integrate GPUs with purpose-built energy infrastructure

"Today we are at the dawn of a new future merging energy and AI," says Graeme Harrison. "We see Energy AI as the next trillion-dollar market opportunity, and are excited to bring this unique thesis to our investors."

Augur's energy AI vision and portfolio is supported by a diverse team of advisors and partners:

• Greg Putnam - Investment Partner: Multi-exit AI founder, former fund manager
• Oma Wilkie - CFO & Operating Partner: ex CIBC Climatech I-banker, ex-Enverus
• James O'Brien - AI Advisor: Professor, UC Berkeley Computer Science. AI & simulation
• Jordan Balaban - Energy Advisor: President and ex-CFO responsible for the largest wind & solar projects in Canada
• Tevi Legge - Software / Product Advisor: ex-VP, Head of Digital Product / CX, ATB

Augur Energy AI Fund I LP is the flagship fund of Calgary-based Augur Capital Management Inc. The Fund makes pre-Seed, Seed and Series A investments in early-stage companies that have been vetted by key prospective customers from Augur's extensive energy executive network.  

FORWARD LOOKING STATEMENTS:

This news release contains forward-looking statements and forward-looking information (collectively "forward looking information") within the meaning of applicable securities laws. The forward-looking information constitutes neither historical facts nor assurances of future performance and is based on certain key beliefs, expectations and assumptions made by Augur Capital Management, including expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions, including the state of the economy and the energy business; business prospects and opportunities; the current regulatory and political environment; and existing financial commitments. Because forward-looking information relates to the future, such information is subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Augur Capital Management control. Actual results and financial conditions may differ materially from those indicated in the forward-looking information, and as such no reliance should be made on any forward-looking information, which reflect Augur Capital Management's expectations only as of the date of this media release. Except as required by applicable securities laws, Augur Capital Management undertakes no obligations to update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Augur Capital Management Inc.