Periodic Reporting for period 1 - Algo-Grid (Platform for Operations and Maintenance Management of Power Smart Grids based on advanced algorithms and artificial intelligence)
Reporting period: 2019-02-01 to 2019-05-31
"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 (RES).
To allow the deployment of eco-friendly, more reliable, efficient and resilient smart grids (and lower significant revenue losses present in the existing power networks) ARAMIS proposes the present Algo-Grid project, aimed at finalizing a platform of advanced Operations and Maintenance Management (O&MM) for power grids that exploits the new opportunities made available by the convergent advances in computing and ICT as well as by the accelerating deployment of renewable generation and storage technologies.
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.
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To allow the deployment of eco-friendly, more reliable, efficient and resilient smart grids (and lower significant revenue losses present in the existing power networks) ARAMIS proposes the present Algo-Grid project, aimed at finalizing a platform of advanced Operations and Maintenance Management (O&MM) for power grids that exploits the new opportunities made available by the convergent advances in computing and ICT as well as by the accelerating deployment of renewable generation and storage technologies.
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.
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Task 1 – Work plan Definition
Aim of the Task was to set the scope of work by stating the technical and non-technical activities (timing, personnel, agreements) required to perform Phase 2, being able to scale up the PHM solution to become Algo-Grid. The task included the evaluation of the performance of the algorithms on test-benches of increasing complexity, so to further improve their performances for electric smart grids.
Task 2 - Market analysis and Marketing Plan
Activities in this task included a more detailed situation analysis of the market sector (including its structure, size, drivers, market, and technology trends) and it also evaluated target pricing, main competitors, PESTEL and SWOT analysis, timeline, route-to-market, penetration/marketing strategy, market inception, full-scale commercialization and the specific barriers to overcome of each target region.
Task 3 - Intellectual property Management
Aramis composed an IPR/License plan and an FtO analysis along with the needed activities to ensure the compliance to the legal framework required. Besides, ARAMIS further investigated how Algo-Grid can be recognized as a tool to support smart grid utilities to improve their levels in the Smart Grid Maturity Model certification process performed by the Software Engineering Institute at the Carnegie Mellon University.
Task 4 - Business plan
The study indicated pricing and costs, forecast sales, EBITDA, Return of Investment, dissemination strategy, timeline to reach each target market and their respective risk analysis. Plan outcomes are the financial progress during Phase 1, the financial viability of the project and a detailed budget for Phase 2.
Aim of the Task was to set the scope of work by stating the technical and non-technical activities (timing, personnel, agreements) required to perform Phase 2, being able to scale up the PHM solution to become Algo-Grid. The task included the evaluation of the performance of the algorithms on test-benches of increasing complexity, so to further improve their performances for electric smart grids.
Task 2 - Market analysis and Marketing Plan
Activities in this task included a more detailed situation analysis of the market sector (including its structure, size, drivers, market, and technology trends) and it also evaluated target pricing, main competitors, PESTEL and SWOT analysis, timeline, route-to-market, penetration/marketing strategy, market inception, full-scale commercialization and the specific barriers to overcome of each target region.
Task 3 - Intellectual property Management
Aramis composed an IPR/License plan and an FtO analysis along with the needed activities to ensure the compliance to the legal framework required. Besides, ARAMIS further investigated how Algo-Grid can be recognized as a tool to support smart grid utilities to improve their levels in the Smart Grid Maturity Model certification process performed by the Software Engineering Institute at the Carnegie Mellon University.
Task 4 - Business plan
The study indicated pricing and costs, forecast sales, EBITDA, Return of Investment, dissemination strategy, timeline to reach each target market and their respective risk analysis. Plan outcomes are the financial progress during Phase 1, the financial viability of the project and a detailed budget for Phase 2.
In conclusion, the feasibility analysis results confirmed that the Algo-Grid project is considered of high relevance for ARAMIS business growth at EU and global level, with a potential strong impact for the field of Operations and Maintenance Management of Power Smart Grids.
The project will continue, with the necessary funding being partly covered by Aramis and partly requested to the European Commission as an SME-INST phase 2 project.
Based on the feasibility assessment, the objectives, concept and approach and the impact of the Algo-Grid business idea described in the phase 1 SME-INST proposal have essentially been confirmed.
The project will continue, with the necessary funding being partly covered by Aramis and partly requested to the European Commission as an SME-INST phase 2 project.
Based on the feasibility assessment, the objectives, concept and approach and the impact of the Algo-Grid business idea described in the phase 1 SME-INST proposal have essentially been confirmed.