Plexigrid’s innovative grid management solution is key to prepare grids for the coming transition towards renewables and generate cost savings for electricity distributors and consumers
MADRID, Spain and STOCKHOLM, Sweden, Nov. 11, 2022 (GLOBE NEWSWIRE) — Plexigrid, a deep tech company in the electricity grid space, has launched a partnership with State of Charge, providing market entry and business development services, to strengthen its presence in Australia and New Zealand and better serve customers in the region.
Plexigrid is headquartered in Gijón (Spain) and Stockholm (Sweden). It is powered by a team of 25 people from 14 nationalities.
Australia-headquartered State of Charge, specialise in working with energy-tech companies to enter the Australian market, offering market intelligence, product development and business development services to lower those barriers of entry. State of Charge is proud to partner with Plexigrid on its mission to accelerate the uptake and improve the management of distributed energy resources, and to showcase its market leading platform to local electricity networks.
Plexigrid will work with State of Charge to bring the powerful features of innovative technology solution for electric grids to Australia and New Zealand, helping lower costs for distributors and consumers, speed up grid connections, and increase the capacity of existing grids to host renewable energy. The focus of the partnership will be on three key layers of Plexigrid’s technology: low voltage monitoring based on smart meter and sensor data, digital twin technology to strengthen grid analytics and planning, and managing demand flexibility with forecasting and control of distributed energy resources.
Australia aims to speed up efforts to become a renewable energy superpower by tapping into some of the best renewable sources of energy in the world. To do this, it will have to replace legacy coal power stations, expand grids, make them smarter and strengthen clean energy supply chains. Australia is already the fastest adopter of solar energy in the world. Solar power accounted for 12% of total energy consumption in 2021, according to the third annual Global Electricity Review by UK think tank Ember, much higher than the global rate of 3.7%. The share of solar and wind power combined rose to 22% in 2021. This shift towards renewables creates challenges for the grid, which must be made smarter to better deal with surges and fluctuating supplies.
The partnership between Plexigrid and State of Charge creates a powerful local player than can speed up the ongoing effort to make the distribution grid smarter and facilitate even faster uptake of renewable energy.
Plexigrid can convert current power grids into flexible ones. The company’s deep tech shows where and when the grid is overloaded or underutilized. The technology allows flexible devices (like solar panels, electric vehicles or heat pumps) to be re-scheduled at times of local grid congestions. By doing so, grid operators can save costly and time-consuming grid upgrades.
“Plexigrid’s work will make the world’s current power grids more flexible, cost-effective, controllable, and robust,” said co-founder and CEO Alberto Méndez. “We developed our technology practically from scratch because electrical grids, surprisingly, still operate according to 100-year-old technological criteria.”
The International Energy Agency study “Net Zero 2050” suggests USD500-USD800 billion will be needed every year from 2030 to make grids fit for the energy transition. With Plexigrid technology 35% of these investments can be avoided and the savings shared with consumers.