Periodic Reporting for period 1 - POWER BOX (POWER BOX - HYBRID ENERGY STORAGE FOR ANY ENERGY SOURCE)
Berichtszeitraum: 2019-08-01 bis 2019-11-30
A significant proportion of global emissions (CO2, NOx, PM, etc.) are produced by diesel generators, which are often used to produce electrical power in 2nd and 3rd world countries. On a global scale, construction and mining sites using generators also play a major role in emissions. However, diesel generators have a poor energy efficiency. The EU-funded POWER BOX project aims to reverse this trend with a solution that offers the possibility to hybridize generators as well as act as primary storage for PV produced electricity. The Power Box is an energy storage system that runs in parallel with any electrical energy source. This leads to a fuel reduction of up to 40 % (depending on application), a reduction of maintenance efforts, as well as the possibility of using lower kVA rated generators - all of these factors significantly reducing emissions. The Plug&Play System can also be used for grid stabilization, in combination with renewable energy sources, for Peak Shaving and Load Shifting in the residential, industry and business sectors - again reducing fossil fuel burn and emissions. Acting as a viable primary charging solution to electrical vehicle (i.e. EV) charging stations, regardless of the type of connection (alternating or direct current i.e. AC or DC), the POWER BOX leads to less disruptions when expanding the EV charging infrastructure. The modular and robust design can be used in- and out-door with a storage range from 20 kWh - 1 MWh and with bi-directional / Parallel Platform Technology Hybrid-Inverter (patent pending) ranging from 11 kW - 1 MW (Multi-Racking: 576 MWh- 240 MW). The project aims to optimize the technology and bring it to market by the end of 2021.
We prepared a technical road map for our project (Hardware & Software development, Network Analyses Module development, Virtual Power Plant, Prototyping, Certification strategy) together with identified technical risks and we define our mitigation & contingency plans. We performed an analysis of the global market for POWER BOX including segmentation, trends, drivers, barriers and, identify visible opportunities for our innovation. We prepared our commercial plan to approach strategic partners and key stakeholders in order to set up our Dealer and Partner network. The initial target customers of POWER BOX are companies who utilize diesel generators (basic & pro range products) and grid suppliers from the energy sector who need energy storage solutions (unlimited range products). We describe our revenue model & sales strategy and outline our close to market activities such as dissemination & communication to promote POWER BOX. We revisit our IPR strategy and performed a detailed FTO analyses. We assessed the financial feasibility of our project and our company, operational costs & cash-flow projections, and, the budget required for our project to reach our commercial goals. In the end, we provide our final business plan on our short-term strategy and long-term vision based on our technical, commercial and financial assessments. Based on global generators sales, hybridization of existing generators and the battery energy storage market size, we estimate our total available market at €30 Billion and could reach up to €250 Billion. We expect to generate a cumulative revenue of €360 Million, a cumulative profit of €30 Million and ROI of 12 by the 5th year of commercialization (2026) and create additional 45 positions in our company.
Using Peak Shaving, the load peaks and troughs are stabilized resulting in a generator that operates in an optimal range, which has both major cost and maintenance advantages. Diesel savings of up to 40% and maintenance cost savings of up to 50% can be achieved. This reduction of fuel consumption is also massively positive for the environment because of reduced emissions (CO2, NOX etc). Thanks to POWER BOX, communities can now store and control renewable energy (RE) efficiently. The xelectrix POWER BOX is the ideal storage solution for multiple households, who produce electricity themselves via PV and / or wind. By sharing the storage, self-consumption of self-generated energy is optimized and grid costs are reduced. A local energy community can therefore store electricity more efficiently and at more favorable conditions than with conventional home storage systems. In addition, the POWER BOX reduces the Community risk in case of power failure or grid disruptions. The POWER BOX makes EV charging possible without massive infrastructure disruptions. The xelectrix POWER BOXes act as the stress-reliever in the E-Vehicle charging process – energy provided from either the grid or renewable sources is stored in POWER BOX and this then provides the power to the quick charge stations.