Swiss startup offers demand side management software to manage energy flows
Switzerland-based Hive Power has launched new software to enable energy optimization of flexible assets connected to the grid in markets with dynamic load-variable electricity tariffs.
“Flexo is hardware-independent and made for large fleets of flexible assets. It is demand side management software to manage energy flows,” Gianluca Corbellini, founder and chief executive officer of Hive Power, told pv magazine. “We have developed an algorithmic layer to predict how much flexibility, and then actuate which assets to steer in time.”
The company, a spinoff of Switzerland’s University of Applied Sciences (SUPSI), provides its grid flexibility-enabling software on a subscription basis. Customers are businesses, such as owners of solar energy communities and electric vehicle (EV) fleets, as well as energy service companies and distribution system operators.
The Flexo solution has interfaces to integrate inverters, home energy management systems (HEMS), charging point managements systems, meters, and other internet of things (IoT) devices.
It is suitable for solar PV farms, energy communities, EV fleets, small and medium-sized battery storage systems, basically any of the newer types of grid flexibility assets, according to the company.
The software enables aggregated capacity, optimized demand, reduced spending by time shifting electricity use, and access to new revenues by providing ancillary services to balance the grid.
Several trends converge to drive demand for such software: increasing energy costs, energy price volatility, and increasing penetration of renewable solar and wind. Hive Power says it addresses such trends by enabling pooled capacity and access to additional revenue streams via demand response contracts with local and national grids, as well reduced energy costs, and increased transparency with monitoring and reporting functionality.
A white label version is available to enable branded services. It supports end users' access to reporting and coaching on costs and benefits via app software.
Founded in 2017, Hive Power already has projects, partners and customers in the automotive, renewable energy, electricity grid, and automotive industries. One of its customers is Clyde Mobility, a Swiss electric car subscription company, which uses Flexo to aggregate the capacity of over 1,000 EVs to provide grid support services to the national transmission operator.
Hive Power recently raised €3.5 million ($3.6 million) in a seed round featuring Swiss-based energy provider Axpo and early-stage investor Creadd Ventures, based in Ticino, along with a loan from the Swiss Technology Fund. The new capital is meant to fuel entry into new markets in Europe.
“We have a strong footprint in Switzerland, Italy, Southern Europe, and are now expanding in German-speaking markets,” said Corbellini.
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