SOURCE: AutoGrid Systems

AutoGrid Systems

February 08, 2016 09:04 ET

AutoGrid Announces a Record Year With Sixteen New Customer Agreements and a 350 Percent Increase in Distributed Energy Resources Under Contract

Energy Industry's Increasing Need to Manage Distributed Energy Resources in a Scalable, Intelligent and Unified Manner Drives Worldwide Adoption of AutoGrid's Flexible Asset Management Solution

REDWOOD CITY, CA--(Marketwired - Feb 8, 2016) - AutoGrid Systems, the leader in Energy Internet software, today announced that the company is seeing rapid adoption of its Energy Internet suite of applications, with a 350 percent increase, to a total of 550 megawatts, of distributed energy resources (DERs) under contract. The DERs under management include Combined Heat and Power (CHP) units, energy storage systems, smart solar inverters, HVAC systems, commercial building lighting systems, Electric Vehicle (EV) chargers, smart thermostats, water heaters, pool pumps and load control switches.

In addition to the significant growth in the amount of DERs under contract, AutoGrid deepened relationships with existing customers such as Florida Power & Light and E.ON, added sixteen new customers, including both regulated and deregulated energy companies, and saw over 100 percent year-over-year growth in annual recurring revenues. Over 85 percent of all new contracts signed in 2015 were Software as a Service (SaaS) contracts with multi-year recurring revenue streams.

AutoGrid expanded its presence in the European flexibility management market with Eneco's successful deployment of the industry's first Software-Defined Power Plant™, which integrates flexibility from customer-owned CHP units in greenhouses, industrial demand response and other flexible DERs into a single, reliable resource. With this 100 megawatt dispatch-grade resource, Eneco can react in real-time to signals from wholesale electricity markets run by the Dutch Transmission System Operator (TSO), optimize a large portfolio of distributed generation assets and trade in these markets 24 hours a day, seven days a week, 365 days a year. In addition, AutoGrid extended its presence in the energy storage market with Electro Power System's selection of AutoGrid's Predictive Controls™ technology to build and operate Software-Defined Power Plants with EPS energy storage systems.

AutoGrid's integrated suite of Energy Internet software applications enable service providers operating in increasingly competitive market environments to build next-generation renewable-friendly energy networks, seamlessly integrate and manage distributed energy resources, acquire, retain and dynamically engage with customers, enhance reliability of operations and reduce operating costs.

"We would like to thank all of our customers and partners who share our vision of a cleaner, more reliable and affordable global energy system," said Dr. Amit Narayan, CEO of AutoGrid. "Throughout history, humanity has equated energy with the consumption of natural resources. For the first time, software now gives us the opportunity to use data as a new source of energy. Data is not only clean and cheap, it is also the only resource that is growing."

Any Asset, Any Protocol, Any Program
AutoGrid provides the energy industry with the first fully integrated software applications suite to predict and control millions of connected distributed energy resources across the Energy Internet in a unified manner. These resources include residential, commercial and industrial energy assets such as smart inverters, battery storage systems, EV chargers, CHP units, backup generators, smart thermostats and other Energy Internet of Things (IoT) assets. AutoGrid supports all value streams including capacity, energy and ancillary services programs in regulated as well as deregulated energy markets. For regulated utilities, AutoGrid's software enables integration of renewables while improving the reliability of their transmission and distribution operations. For deregulated energy companies such as retail electricity providers, distributed energy resource aggregators and project developers, AutoGrid's software improves their ability to acquire, retain and engage with customers while increasing the monetization of their customer-owned DER assets through participation in energy markets. Finally, for electricity consumers, AutoGrid's software helps reduce energy costs through behind-the-meter optimization of net energy consumption and peak demand.

Intelligent, Scalable, Flexible Technology
Using powerful data science, advanced machine learning and high-performance network optimization algorithms, AutoGrid's Predictive Controls technology processes petabytes of data streaming from millions of connected energy assets to precisely predict and optimize supply and demand patterns across the Energy Internet -- all in real time and at scale. AutoGrid's unique and patented architecture supports unprecedented configurability to support different cost functions and proprietary user-defined data science models for different markets around the world.

Low Risk, Fast Implementation, Rapid Deployment
AutoGrid's Energy Data Platform (EDP) can be securely deployed in a matter of days on public or private clouds. Unlike other vendors that require years to stitch together multiple legacy solutions, AutoGrid provides the first and only open-standards-based, cloud-native platform, built from the ground up on a modern big data technology stack -- with NoSQL, Hadoop, Kafka and Spark -- to manage millions of distributed energy resources in a scalable manner. AutoGrid's well-defined APIs and open and flexible enterprise messaging architecture allow for fast integration into even the most complex IT environments.

About AutoGrid
AutoGrid transforms data into the world's cleanest, most reliable and most affordable source of power. The company's Energy Internet software and Flexible Asset Management solution enable global utilities, electricity retailers, energy service providers and Internet-of-Things (IoT) vendors to manage distributed energy resources in real time and at scale. Its Energy Data Platform (EDP) and Predictive Controls™ technologies leverage petabytes of smart meter, sensor and third party data along with powerful data science algorithms to generate a dynamic and actionable portrait of energy generation and consumption.

The world's leading energy companies, such as E.ON, Bonneville Power Administration, Florida Power & Light, Southern California Edison, Eneco, Portland General Electric, City of Palo Alto Utilities and CLEAResult are using AutoGrid's software to improve their operations, integrate renewables and drive deeper engagement with their customers. AutoGrid's technology is also embedded in software products from leading vendors, such as Schneider Electric, Silver Spring Networks and NTT Data.

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