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Technology for energy trading among home consumers

Country of Origin: Spain
Reference Number: TOES20200114002
Publication Date: 20 January 2020

Summary

A Spanish start-up has developed a technology for energy trading among home consumers. It aims 
To accelerate the growth of exchange of electricity demands at home consumer level with power installed with less than 15 kW by implementing a P2P (peer-to-peer) network. The company is looking for financial agreements.

Description

Energy, and in particular electric energy supply, is becoming an important business area in which new technologies are needed. Currently, a variety of actors are involved in electricity supply chain to the home users: electric energy generators (big and small ones), distribution companies and energy trading companies. This schema is repeated in all the countries including Europe, Latino America, USA and Asia. Several difficulties will appear when electric vehicles, distributed generators of green energies, smart grids and smart cities will increase its presence and will demand supply. Home users and small business, with power less than 15 kW, will have an important role not enough attended in the present. Currently the home user electricity supply is a “500 millions of consumers and 300 billion euros of consumption” year business.

 

Some of the requirements and claims of these consumers are: Why I should be invoiced with different fixed charges? What happens with the energy not consumed? Why is so difficult to understand the energy invoice? Could I store the energy that it is not consumed? Why should I need an intermediary agent to buy my energy? What happens with my confidential information about my consumption? Can I obtain an economic benefit from this energy usage information?



In this context, the Spanish company has developed a new and disruptive concept for energy trading that solve all mentioned claims from these home consumers: A new P2P (Peer-to-Peer )network for energy trading, based in advance technology for energy prediction big data IoT and combined with an innovate P2P business model. 



It aims to accelerate the growth of this market for P2P exchange of electricity demands at home consumer with power installed with less than 15 kW by implementing a P2P network for trading electricity with the company specific technology and business design.



The technology is based in two main modules:



- A proprietary Intensive Machine Learning algorithms (IML): a new concept of ultrafast prediction of user energy demands, based in an innovative algorithm and tested in other predictive problems for nuclear and industrial sector.



-A proprietary software to manage big data generated by IoT devices with capabilities of real time capture and storage of energy instant demand (milliseconds).



The Spanish company is a start-up founded in 2009 to develop and to market disruptive technologies for energy trading. Since its foundation, the company offers full engineering process such as development of projects, new processes or innovative products and technologies, including conception, design and implementation of advanced technologies and mass production with special emphasis on the energy and environment sectors.



The solution is fully developed and currently the company is looking for investors interested in the energy market, in order to start the commercialization and deployment of the solution. The kind of partnership sought is financial agreements .

Advantages and Innovations

-The technology has been structured and designed to operate with virtual energy, solving all aspect related with national regulations, consumer’s needs, and financial aspects; with capabilities to be scale and trans-national operated. A saving for the user is planned to be a 15% related with current electric invoices.



-Few competitors are estimated because of high technology barrier to deploy similar business and the investment entry barrier to begin this deployment. Once the technology will be deployed, an exponential growth is anticipated and new competitor will have difficulties to reproduce similar business.

Stage Of Development

Available for demonstration

Requested partner

The company is looking for international investors interested in the energy market and willing to reach financial agreements in order to start the commercialization and deployment phase. In return, investors will be offered co-ownership or other repayment modalities.

Investors with background in the energy sector are preferred but it is not mandatory.