Company Research Report: Overstory

1. Company Overview

Name:

Overstory

Mission:

Fight climate change with greener, more reliable power by building intelligence that mitigates wildfires, protects biodiversity, and helps people make smarter decisions about natural resources.

Founded:

No information is available

Founders:

Indra den Bakker and Anniek Schouten

Key People:

• Fiona Spruill, CEO

• Doug Perrygo, CFO/Interim COO

Headquarters:

No information is available

Number of Employees:

No information is available

Revenue:

No information is available

Known For:

Vegetation intelligence that mitigates wildfires, protects biodiversity, and enables smarter infrastructure management and safer communities.

2. Products

Overview:

Overstory provides software and analytics to utilities to optimize vegetation management and reduce outage and wildfire risks.

Key Products:

Vegetation Intelligence Platform

• Description: Utilizes AI combined with satellite and aerial imagery to deliver actionable insights for vegetation management.

• Key Features:

• Proactive Vegetation Management: Identifies risk from encroachment, hazard trees, and wildfires before they materialize.

• Cycle Optimization: Determines optimal times for trimming and prioritizing circuits likely to improve reliability.

• Work Quantification: Adds transparency of volume, type, and location of work to get more accurate bidding.

• Targeted Risk Identification: Identifies strike trees, declining trees, and hazard trees for mitigation.

3. Recent Developments

New Products Launched:

No information is available

New Features Added:

• Establishment of a forest health monitoring dashboard.

• Introduction of new insights like SAIDI impact to measure efficiency and cost reduction.

Partnerships:

• Partnership with Planet for collaboration on innovative wildfire management.

• Elewit, Red Eléctrica Group utilized Overstory deliverables in Spain, confirming accuracy in vegetation management for 10,000 miles of powerline.

Other Developments:

• Closed a $14 million Series A funding round led by B Capital.

• Additional $5.2 million investment from Convective Capital to expand the vegetation intelligence platform.

• Highlighted by several media outlets, such as The Wall Street Journal and WIRED, for advancements in AI-driven vegetation management.

4. Technology and Impact

• AI and Remote Sensing Integration: Combines AI with satellite and aerial imagery to create vegetation data.

• Efficiency and ROI Statistics:

• 46% improvement in efficiency for US distribution customer.

• 64% trimming efficiency improvement for US transmission customer.

• 13x ROI for US transmission customer.

5. Customer Testimonials

• Jeff Wissing, Vegetation Management Supervisor, Holy Cross Energy: Praised Overstory insights for driving successful transition from cycle-based to risk-based management.

• Brenda Green, Program Manager, Powder River Electric Cooperative: Noted enhanced confidence in data results.

• Josh Holland, Director of Engineering and Operations, Sho-Me Power Electric Cooperative: Highlighted return on investment due to enhanced satellite intelligence.

6. Case Studies

• Holy Cross Energy: Mitigated community wildfire risk and increased reliability.

• Powder River Energy Corporation: Mitigated wildfire risk using vegetation intelligence.

• Delaware Electric Cooperative: Transitioned to risk-based trimming for increased operational efficiency.

• Suur-Savon Sähkö: Avoided costly damage and prevented service outages using machine learning and satellite imagery.

• Red Eléctrica de España: Identified 37 species of vegetation using Overstory's satellite imagery.