A new wave of digitally optimised energy

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This week we’re quoting Jan Lozek (Managing Partner and Co-Founder of Future Energy Ventures)

What Lozek said:

“The future of energy will be built on digitalization – without software there can be no decentralised net zero energy system.”

There’s a new wave of energy startups

This future, built on digitised energy solutions, has already started – with a new wave of energy startups that use digital tech to analyse, integrate, and optimise energy sources.

According to research by McKinsey, digital technologies have lowered the barrier to entry for new energy companies – allowing startups to create products and services and enter the market more easily. The world’s transition to digital has also catalysed new business models in the industry, like:

• Peer-to-peer (P2P) energy trading: a model based on a digital marketplace where energy producers and consumers can trade electricity directly – without needing an intermediary.
• Virtual power plants: cloud-based distributed plants that bring together a collection of small-scale energy resources, aggregating them and then coordinating with national grid operations.

And as well as leveraging digitisation to enter the market and access consumers, startups are building their whole businesses around the power of digital tech.

Including these ones…

Here are just a few of the innovative energy startups that are making the most of digital tech:

• Solar Analytics. Founded in Australia, this startup uses digital technology to monitor solar energy systems and optimise their performance – providing households with a complete view of their home’s energy profile, via their personal ‘solar dashboard’.
• Envelio. This German startup uses digital tools to optimise the operation of power grids – so that more renewable energy sources can be integrated into the supply.
• KiWi Power. Recently acquired by Engie, this UK-based startup provides digital solutions that enable businesses to reduce their energy consumption during peak demand periods, so they can monetise their flexible energy assets.
• Husk Power Solutions. An Indian startup that uses digital technology to optimise mini-grids that deliver electricity to rural communities in Asia and Africa – giving them access to clean energy and an improved quality of life.

Digital tech is driving the transformation of the energy industry

Digitisation is enabling the transformation of every area of the energy industry. In the oil and gas sector, digital tech is being used to optimise efficiency, and integrate conventional power sources with renewables; as well as implementing preventative maintenance measures to energy production facilities.

Across the entire energy industry digitisation is creating greater transparency – so consumers can see where their energy comes from, and how it’s distributed and used. As Andreas Matthé (CEO Business Unit Electrical Products, Siemens Smart Infrastructure) said in an interview with Energy Monitor, “the days of electricity flowing through cables unobserved are numbered.”

And in energy research and development, digital innovations are helping to speed up the process of decarbonisation – by improving project management and execution, and allowing initiatives to transfer knowledge between them.

Read the blog: The decarbonisation of energy in Saudi Arabia

Before you stop reading...👀

Get your copy of the two latest articles of LEAP's quarterly digital magazine - LEAP Forward ⬇

Read the article on The New Internet, that explores groundbreaking technologies and innovations reshaping the way we connect and communicate. From decentralised networks to quantum computing, this transformative shift promises faster speeds, enhanced security, and limitless possibilities.

LEAP Forward is also bringing you the rising stars of Saudi Arabia - Uvera, a Saudi Arabia-born clean tech start-up that aims to reduce food waste for consumers and retailers, led by Asrar Damdam (Founder, Uvera). Asrar Damdam share's her inspiring story and remarkable achievements with us in this captivating article.

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Catch you next week,
Richard McKeon
Marketing Director

P.S. - Mark your calendars for LEAP 2024 📅 4-7 March 2024. Want to be a part of the action?