Internet, power, and mobile phones are all innovations that have led to numerous business models, radically changed economies, and have changed the way people live and work forever. Artificial intelligence (AI) and machine learning provide similar transformative potential, although with even more potential. People no longer have to explain or program how to undertake all the tasks of new systems or new technologies precisely.
AutoGrid applies AI and machine learning to the energy community, providing robust solutions for smart grid/smart device analysis where participants in the energy value chain can optimize the electric network radically and offer new energy business models. These predictive analytical insights allow utility companies to ensure the reliability of a more distributed electric grid, to recognize devices along the verge of failures and to optimize energy consumption more effectively and to make better plans for the future, and to leverage the predictive consumer forecasts.
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AutoGrid builds a smarter, distributed-energy world with software applications. The flexibility management applications suite of the company permits utilities, electric retailers, project developers for renewable energy and power service providers to deliver clean, affordable and reliable energy in real-time, and at scale by managing networked distributed energy resources (DERs). In contract with Xcel Energy, National Grid, E.ON, CPS Energy, Total, NextEra Energy and with 35 other leading energy firms around the world, AutoGrid has 5,000 megawatts of DER.
AutoGrid Flex is the first and only leading solution in all three areas: demand response management, virtual power plant management, and distributed energy resources management system.
The new equity investment from Shell Ventures LLC was anchored by AutoGrid, a market leader in energy flexibility management software. This funding is an extension of a Series D investment round announced by a strong energy company consisting of CLP Group, Innogy, National Grids, Orsted, Tenaska, Envision Ventures, and Total Energy Ventures. The investment will speed up AutoGrid's deployment to AI-driven predictive controlsTM of its connected, distributed, and flexible energy resources on a real-time and large basis of AutoGrid’s Energy Internet platformTM, and AutoGrid FlexTM. Shell Ventures is the Royal Dutch Shell plc corporate venture capital arm. Shell has been an investor of the entire range of renewable energy technologies and digital solutions from O&G to venture capital since 1997 and continues to have a tradition in venture capital.
The expertise and AI-driven approach of AutoGrid are used to streamline and harness existing data sources to produce accurate forecasts and predictions of distributed production and consumption of energy. AI and machine learning on the grid edge are developed by AutoGrid to make the most of advanced machine learning capabilities, which can help to reap the value of the exponential growth of IoT data.