Full-Time
Buyer
Confirmed live in the last 24 hours
Veir
51-200 employees
Develops superconducting power transmission lines
Mid, Senior
Burlington, MA, USA
- Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
- Minimum of 3-5 years of experience in procurement or supply chain management, preferably in the power transmission or related industry.
- Strong negotiation and contract management skills.
- Excellent communication and interpersonal skills.
- Proficiency in procurement software and Microsoft Office Suite.
- Ability to work independently and as part of a team in a fast-paced environment.
- Strong analytical and problem-solving abilities.
- Attention to detail and a commitment to accuracy.
- Identify and evaluate potential suppliers based on quality, cost, and reliability.
- Develop and maintain strong relationships with suppliers.
- Conduct market research to stay updated on industry trends and pricing.
- Negotiate terms and conditions with suppliers to secure favorable contracts.
- Ensure compliance with company policies and legal requirements.
- Manage and monitor supplier performance to ensure adherence to contract terms.
- Collaborate with inventory and logistics teams to maintain optimal stock levels.
- Monitor inventory levels and coordinate orders to prevent shortages or overstock.
- Implement strategies for cost reduction and efficiency improvement.
- Ensure all procured materials meet the required specifications and quality standards.
- Address any issues related to defective or substandard products.
- Work closely with the quality control team to resolve supplier-related quality issues.
- Analyze cost structures and identify opportunities for cost savings.
- Prepare and manage budgets for procurement activities.
- Track and report on procurement metrics and performance indicators.
VEIR specializes in superconducting power lines that enhance electric transmission capabilities. Their technology utilizes distributed, evaporative liquid nitrogen for cooling, allowing these lines to transmit 5 to 10 times more power than traditional lines at the same voltage. This innovation significantly increases the capacity of existing transmission corridors and reduces the need for new infrastructure. VEIR primarily targets utility companies and energy providers seeking to upgrade their systems to meet rising electricity demands while promoting decarbonization and grid resilience. Unlike competitors, VEIR's product minimizes energy loss and maximizes power delivery, providing a cost-effective solution for enhancing transmission capacity. The company's goal is to support the transition to sustainable energy by modernizing the electric grid and reducing carbon emissions.
Company Stage
Series A
Total Funding
$40.8M
Headquarters
Woburn, Massachusetts
Founded
2019
6 month growth
↑ 15%1 year growth
↑ 59%2 year growth
↑ 195%
Simplify's Take
What believers are saying
- Successful outdoor demonstration of VEIR's technology validates its potential to modernize the electric grid and increase access to renewable energy.
- The recent $24.9 million Series A-2 funding round from prominent investors like Breakthrough Energy Ventures and Congruent Ventures indicates strong financial backing and growth potential.
- VEIR's innovative approach aligns with global efforts to combat climate change, positioning the company as a key player in the clean energy transition.
What critics are saying
- The adoption of VEIR's technology may face regulatory and permitting challenges, potentially delaying deployment.
- The high initial costs associated with superconducting technology could be a barrier for some utility companies.
What makes Veir unique
- VEIR's use of distributed, evaporative liquid nitrogen cooling for superconducting power lines allows for 5-10 times more power transmission than conventional lines, a significant technological edge.
- The company's focus on enhancing existing transmission corridors minimizes the need for new infrastructure, offering a cost-effective and environmentally friendly solution.
- VEIR's ability to transmit high power with negligible losses provides a compelling value proposition for utility companies aiming for decarbonization and grid resilience.