Project description
Building new technology for the construction industry
Imagine an energy network that can automatically monitor energy flows and adjust to changes in energy supply and demand. That’s a smart grid. And their deployment is crucial for achieving a more secure and sustainable energy future. Smart grids are fundamental for the diffusion of low-carbon technologies, including electric vehicles and variable Renewable Energy Sources. In this context, the EU-funded Algo-Grid project will develop and deploy methods, models, techniques and algorithms for the optimisation of industrial components and systems in order to improve operation and maintenance of power grids. For instance, time series prediction algorithms, energy flow simulators and optimisation algorithms can provide real-time optimal configurations of smart grids (generation, transmission and distribution).
Objective
The deployment of smart grids is crucial for achieving a more secure and sustainable energy future. In fact, beside addressing current concerns with existing electricity systems (e.g. ageing infrastructure and increasing peak demand), smart grids are fundamental for the diffusion of low-carbon technologies, including electric vehicles and variable Renewable Energy Sources.
Significant revenue losses are still experienced in the existing power networks, but the convergent advances in computing and ICT, the accelerating deployment of renewable generation and storage technologies offer new opportunities for advanced Operations and Maintenance Management (O&MM) to ensure more reliable, efficient and resilient power electric grids meeting environmental performance goals.
Then, ARAMIS proposes the present Algo-Grid project, for deploying a platform for O&MM of power grids.
ARAMIS was founded in 2012 in Milan, Italy, by a group of (PhD) researchers of the Politecnico di Milano. The mission of ARAMIS is to develop and deploy methods, models, techniques and algorithms for the analysis and optimization of industrial components and systems, particularly, in terms of safety, reliability, maintenance, resilience, asset management, etc.
Algo-Grid is based on specifically designed Prognostics and Health Management (PHM) solutions, time series prediction algorithms, energy flow simulators and optimization algorithms, which can provide real-time optimal configurations of smart grids (generation, transmission and distribution), predict and assess infrastructure health condition, incorporate policy-based rule logic.
A preliminary estimation yields a Return On Investement (ROI) of 4,63M€ for the years 2020-2024. Cumulative profits in 2024 deriving from direct sales in EU28 and target markets (including India, China and the USA) will total more than 9,03M€, exploiting a 25,78B€ business opportunity.
Concurrently, ARAMIS will create 28 new jobs directly linked to Algo-Grid
Fields of science
- natural sciencescomputer and information sciencesartificial intelligence
- natural sciencescomputer and information sciencessoftware
- engineering and technologyenvironmental engineeringenergy and fuelsrenewable energy
- social sciencessocial geographytransportelectric vehicles
- engineering and technologyelectrical engineering, electronic engineering, information engineeringelectrical engineeringpower engineeringelectric power transmission
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
20124 Milano (Mi)
Italy
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.