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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - PowerData (Energy Data Management system to support the smart grid)

Teaser

Summary

PowerData, is a uniform, integrated software platform for energy data management, which serves as basic technology for the entire value chain of the energy industry.
This project had as main goals to assess the technical feasibility, the commercial viability of our value proposition and the financial requirements of adjusting our working prototype to better serve the needs of our clients, compulsory requirement to launch successfully PowerData in the market.
Regarding the Technical Viability, we developed a clear trial roadmap considering the most appropriate end-users to develop the trial and plan the activities to be able to capitalize of the experience of a mass data ingestion requirement and heterogeneous device interfaces.
We also assessed our value proposition and the commercial objectives related to establishing a solid distribution structure and understanding fully the customer needs. Moreover, go-to-market strategies to support our commercialization plan were assessed, including analysis of potential markets, competition, barriers, risk and opportunities, target customers and market entry dates.
We evaluated all financial aspects related to the total cost of the project both in terms of technical and commercial development as well as the total investment and investment productivity.

Work performed

According to the conclusions of the implemented pilot tests with relevant end customers in which we proved the optimization of data ingestion and enable radically new uses of data, the possibilities to fasten processing speed, improved storage requirements and more advanced data exploration techniques as well as to develop an environment for transferring intelligence and data to the device to make monitoring and controlling faster. We defined further technical developments and product adaptations required to conduct the commercial pilots towards a posterior successful commercialization. A risk assessment and contingency plan was carried to assess potential risks; such as changes in the data compression strategy.
We conducted a research of the potential commercialization partners to maximize impact in the market. The innovative PowerData platform will enable us to secure our niche leadership and expand it through the industry. We will want to widen our markets in German speaking countries as well as to build the channels to boost the commercialization in the Netherlands and Spain end of Q3 2020, and to get to launch our product in the global market after 2023. We developed a financial plan with estimated costs and funding requirements for the next two years, as well as a financial forecast for a 5-year period after project end.

Final results

With PowerData, we have the ambition to address all the market trends and be the partner of the electricity sector as a whole to help enterprises (utilities, transmission, distribution, market parties, retailers, traders) provide new services that will benefit the whole value-chain, from the end customers to the utilities. Hereby we face the following 4 key challenges:
Decarbonisation. PowerData can address the challenges decarbonisation brings with a better integration of renewable energy sources to the grid.
Decentralisation. PowerData offers sophisticated time series functionality which can be easily added to such new services such as battery state-of-charge assessment for peak-shaving or a better balancing between the supply and the demand, or at a household scale, for damages prevention due to short-circuit and poor protection from the switchboards.
Digitization. PowerData processes near real-time a large quantity of data coming from the Energy Data Management Software installed in utilities and offers the possibility to process the multitude of data from millions of smart meter devices and thus enable new business models for existing and new players in the energy market.
Democratisation. PowerData enables a better security of the supply, near-real time battery data aggregation to create value to the utilities and offers the technology to enable energy feeds from private households that want to produce and market their own energy.