Sep 9, 2024
EIPGRID Inc., a leading provider of energy management technology, has announced the launch of a pioneering set of portfolio & balancing processes for energy management, designed to address the urgent global need for cost-efficient decarbonization and advanced energy orchestration tools. The Virtual Balancing Core Technology also incorporates advanced cybersecurity capabilities powered by digital security leader Intertrust. The new technology will be unveiled at the RE+ conference in Anaheim, California, from September 9-11.
As the global energy transition accelerates, the rapid adoption of clean energy technologies is exposing significant challenges in upgrading grid infrastructure and meeting the surging demand for clean electricity. Utilities face the dual pressures of substantial infrastructure upgrades and increased capacity requirements, while electricity users grapple with the mounting need to decarbonize amidst constrained clean energy supplies and rising costs.
EIPGRID's response to these challenges is the Virtual Balancing Core Technology—a unique, easy-to-install set of portfolio and balancing processes that requires minimal capital expenditure (CAPEX) while delivering substantial cost savings and decarbonization benefits. By leveraging a decade of expertise in Big Data, Cloud Computing and Artificial Intelligence, this innovative technology arms energy value chain participants with the following capabilities:
Advanced Energy Usage Insights: Gain in-depth analysis, visualization, and reporting of costs, peak loads, and carbon intensity, all powered by generative AI.
Automated Load Management: Achieve energy efficiency gains and demand-response participation readiness through load pattern analysis, optimization, and control, driven by a proprietary hybrid AI that blends machine learning with expert knowledge.
Energy Resources Portfolio Orchestration: Align and co-optimize energy loads with local generation and storage to alleviate grid bottlenecks and enable localized decarbonization.
Moreover, the Virtual Balancing Core Technology is built on widely adopted data standards, ensuring seamless integration into existing Energy Management Systems. It also features a built-in monitoring dashboard that can be incorporated into existing systems and includes Intertrust's XPNTM technology, which guarantees system interoperability, robust security against evolving cyber threats and enables its installation on sensitive infrastructures such as those running on SCADA.
"The world is transitioning rapidly, but the challenges and needs vary widely across states, countries, and market players," said Tony Lee, CEO of EIPGRID. "Drawing on over a decade of experience with diverse actors in various markets, we have developed a composable solution that addresses unstructured needs while being jurisdictionally agnostic. Unlike many energy management solutions that are tailored to narrow, specific needs—often resulting in high customization costs and limited flexibility—our technology is designed to ensure flexibility and adaptability in real-world applications and not just on paper."
The Virtual Balancing Core Technology will be showcased at RE+ on September 10-11 at booth #MM1102 in the startup space (Marriott Ballroom).
About EIPGRID
EIPGRID Inc. is a community energy services and solutions provider with more than a decade of experience in the energy domain and operations across the globe. Headquartered in Seoul, South Korea, the company offers a product line designed to support all energy market players, from community managers and end-users with energy resources, to power aggregators and utilities in charge of the grid. Through EIPGRID's cutting-edge technology powered by AI, all market participants get to maximize their profits through the most optimal power management while diving into various business applications, including Demand Response, Solar, Energy Storage, EV, Micro-Grid, and simultaneously exploring numerous benefits of the RE100 business model and CO2 trading. For more information and updates, visit EIPGRID's official website, LinkedIn, YouTube and X.