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 (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences artificial intelligence
- natural sciences computer and information sciences software
- engineering and technology environmental engineering energy and fuels renewable energy
- social sciences social geography transport electric vehicles
- engineering and technology electrical engineering, electronic engineering, information engineering electrical engineering power engineering electric power transmission
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
20124 Milano (Mi)
Italy
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.