LONDON--(BUSINESS WIRE)--GridBeyond, the world’s leading technology player for managing distributed and flexible energy resources is expanding its geographic reach to provide services to Australia.
GridBeyond will provide AI-powered demand response, virtual power plant (VPP) services and generation and storage asset optimisation across Australia’s National Electricity Market. Using artificial intelligence and data science, the company’s technology solution will allow its C&I customers to participate both in grid services for balancing the grid and in wholesale markets through their energy generation, storage and industrial load. Combining solvers, market access, and automatic trading in one place this empowers C&I businesses, EV fleet operators, generators, and energy storage operators to maximise revenues and savings.
GridBeyond Senior Business Development Manager Diogo Cabral said:
“Australia is a market with very strong fundamentals for the long-term success of demand flexibility services where electricity consumers value highly any services that protect them against market prices’ high volatility creating increased cost savings and additional revenues through optimisation tools and robotic trading and by optimising the combination of different types of assets they have (solar, storage, demand assets); and/or by simply running consumption profiles’ optimisations through AI and by participating in attractive grid services like the FCAS (frequency response) market.
“At the moment with the increasing number of extreme weather events per year, there is a strong political shift away from fossil fuels and towards renewable energy, which strengthens the business case for demand flexibility in Australia. With the help of GridBeyond, C&I businesses can become a strong support in providing valuable grid services through demand response, to allow the continuous and sustainable growth of renewable energy and support the country towards its net zero targets.”
Following successful operations in the UK, Ireland, USA, and Japan, from April 2022, the company’s globally recognised and award-winning technology platform will be available for businesses in Australia’s National Electricity Market.
GridBeyond, already delivers distributed and flexible energy resources management, energy trading, price and energy optimisation, enhanced savings, strengthened operations and sustainability to over 400 sites worldwide, including some of the planet’s best-loved brands.
GridBeyond CEO Michael Phelan said:
“The entry of GridBeyond in the Australian Energy Market is further recognition of GridBeyond’s energy expertise. Operating in the VPP & DERMS market that is planned to grow at a CAGR of 20% by 2026, GridBeyond is strongly positioned to continue the significant growth we have seen and to continue to support businesses, asset owners and grid operators throughout the transition to a net zero future and beyond. The FCAS (frequency response) market in Australia is very similar to the ones we manage in Ireland, so we are bringing unparalleled expertise to Australian businesses to manage their flexible energy resources and co-optimise them with wholesale trading. Our microgrid controls that integrate EVs are also a good fit for Australia’s energy market need.”
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