Project description
AI-powered platform predicts real-time energy demand
Integrating distributed renewable energy sources leads to imbalances between generation and demand, grid congestion and price volatility. Digitalising the grid and empowering consumers can alleviate these detrimental effects. Demand side flexibility (DSF) stands as an innovative business model in Europe’s energy markets. Aggregators oversee consumer offers. Through the EU-funded GEDEMAC project, supported by Women TechEU, an AI-powered platform is proposed for aggregators and energy retailers to automate DSF offerings by predicting real-time demand and flexibility. This platform, named BAMBOO, will facilitate the establishment of new companies in the DSF market. This initiative is poised to have a substantial impact on the digitalisation of the European energy system.
Objective
Enabling the energy transition is an urgent measure needed to mitigate climate change. However, the integration of increasing distributed renewable energy sources is causing an imbalance between generation and demand, grid congestion and price volatility. It is crucial to digitalise the grid and empower the consumers to reduce the impact of these effects of the energy transition. Demand Side Flexibility (DSF), managed through new players that aggregate the offer of the consumers, the Aggregators, is an innovative business model emerging in all the energy markets in Europe. The market opportunity is increasing at 21.5% CAGR to reach an available market value of €16.7B in 2027 in the EU.
BAMBOO is a Software-as-a-Service platform based on Artificial Intelligence that allows Aggregators and Energy Retailers to offer DSF in the energy markets in an automated and dynamic manner. For the first time, these industry players can predict the demand and the flexibility of their client’s portfolio to offer it in real time.
BAMBOO will facilitate the easy creation of new companies that aim to enter the market of DSF as aggregators, such as Energy Services companies, Infrastructures Companies, Industry Groups or Energy Communities. Therefore, BAMBOO will significantly impact the digitalisation of the European energy system and accelerate the penetration of renewable energy sources in the grid.
The company is co-founded and led by Cristina Corchero, CTO, who is committed to bringing her knowledge and expertise acquired as a researcher to the market. Her professional career and female leadership has been recognised with outstanding awards; moreover, she has appeared on TV and media to talk about energy in plain language to the citizens. Thanks to Women TechEU, Cristina aims to improve her skills to manage the company's growth and prepare the business's commercial and financial strategy for scalability.
Fields of science
- natural sciencescomputer and information sciencesartificial intelligence
- engineering and technologyenvironmental engineeringenergy and fuelsrenewable energy
- social scienceseconomics and businessbusiness and managementbusiness models
- natural sciencesearth and related environmental sciencesatmospheric sciencesclimatologyclimatic changes
Keywords
Programme(s)
- HORIZON.3.2 - European innovation ecosystems Main Programme
Funding Scheme
HORIZON-CSA - HORIZON Coordination and Support ActionsCoordinator
08930 SANT ADRIA DE BESOS
Spain
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.