Project description
Innovative platform for better energy management
Storing energy in the grid represents a challenge for energy operators preventing them from integrating the share of energy generated from the increasing intermittent renewable sources. Assessing with precision demand and response in real time is very difficult. The concept of ‘Energy-Data-as-a-Service’ (EDaaS) is a valuable asset for all players in the energy industry. However, it requires a fast digital transformation in the sector. The EU-funded NegaWh EXchange project will prepare for a successful innovation. Its software platform can manage all the raw data coming from the different points of the energy grid and transforms energy into a programmable asset. NegaWh EXchange will prepare for the commercialisation of the platform, leading to energy optimisation and increased transparency in the sector.
Objective
Energy operators are unable to integrate the share of energy generated from the increasing intermittent renewable sources such as wind and solar-PV, due to the difficulty for storing energy in the grid. An effective way to solve that is to precisely assess demand and response in real-time; however, this is highly difficult due to the complexity involved in getting information in both directions, even more so due to the poor ICT integration in the energy grid. Additionally, new regulation is setting more audit and traceability requirements, particularly difficult in such a dynamic market of intangible assets. As a result, real-time action is required, fostering the concept of “Energy-Data-as-a-Service” (EDaaS) as a valuable asset for all players in energy industry. This is pushing strong changes in the sector to embrace digital transformation quickly (Internet of Things, Artificial Intelligence, Big Data). Tecnalogic is an Italian start-up founded in 2013, owned by highly experienced professionals in digital services for energy industry. NegaWh Exchange, its core product, is a software platform that manages all the raw data coming from the different points of the energy grid to solve electric imbalance by a process of digitization, transforming energy into a programmable asset (NegaWh). It is composed of 4 modules: Profiling, Scheduling, Balancing and Modelling. A prototype was successfully tested in Sept. 2016. Main benefits for customers (Balancing Service Providers, BSPs) are: Easier energy budgets, forecasts and reduction goals; Energy optimization (up to 40% energy expense reduction); Energy procurement & supply based on real-time data; Greater transparency around energy performance, an excellent tool to get green seals. For Tecnalogic, the successful commercialisation of NegaWh Exchange will generate €81.87M revenue and 65 new employees by 2025 (591% ROI).
Fields of science
- engineering and technologyelectrical engineering, electronic engineering, information engineeringelectrical engineeringelectric energy
- natural sciencescomputer and information sciencesdata sciencebig data
- natural sciencescomputer and information sciencessoftwaresoftware development
- natural sciencescomputer and information sciencesartificial intelligencemachine learning
- natural sciencescomputer and information sciencesartificial intelligencecomputational intelligence
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
20871 VIMERCATE
Italy
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.