The commercialization project marks the international collaboration between two technology companies to advance the performance of microgrids.
PORTLAND, ME – July 19, 2019 – Introspective Systems, LLC announced today that it has finalized its contract with the Binational Research and Development Foundation to begin a commercialization project with its Israel-based partner, Brightmerge. The companies will leverage their areas of expertise to create an end to end AI-based data solution for Microgrid design, development, and operations.
“The process of developing microgrids can be costly. It begins with a feasibility study reaching hundreds of thousands in dollars, even before any design, procurement, and installation.” said CEO Kay Aikin, “Moreover, those feasibility studies are filled with disclaimers and closing the gaps of uncertainty is crucial. Microgrid designs are unique and therefore it is difficult to scale-up the process of those studies without the use of technology.”
Daniel Schwab, Founder, and CEO of Brightmerge stated: “After spending almost 20 years in the renewable energy industry, it has been clear to me for a long time that microgrids are the architecture of the future energy system.”
“We are at the early stages of a complete overhaul of the entire energy system that was based on a 100-year-old design using outdated technologies and methodologies. Brightmerge and Introspective Systems have the industry knowledge and technological know-how to provide seamless solutions that bring entire economies into the digital age of energy,” Schwab said.
According to Bloomberg’s New Energy Outlook Report 2019, released just a few days ago, $13.3 trillion US Dollars will be invested from now until 2050 in solar, wind and other renewable energy systems. That’s about $415 billion each year. Another $11.4 trillion US Dollars will be invested in new transmission and distribution infrastructure. That translates to $356 billion per year. A large portion of these dollars will go to microgrid systems combing generation, controls, and distribution.
Elkana Pressler, Co-Founder, and VP of Business Development for Brightmerge said, “The electricity grid served humanity for over 100 years distributing energy during the fossil fuel era; this era is decaying fast. Transferring energy hundreds of miles from production to consumers is no longer the most financially efficient solution. The current electric transmission system is super expensive to build, operate, maintain and lately, to protect. Microgrids utilize the capability to create energy wherever it is consumed. It might be a community, a campus, commercial center or even residential facilities.”
Keith Lehman, Co-founder, and CTO of Brightmerge believes that’s both companies come in.
“This is exactly where Brightmerge enters the picture. We realize that with the right set of data, machine learning process and AI we can automate most of the feasibility stage and can significantly reduce costs during design,” Lehman said.
“Brightmerge leverages proprietary algorithms and Introspective Systems’ AI-powered energy simulation engine combine to produce a feasibility report faster, cheaper and above all – much more accurately than is currently possible,” Aikin said.
Leman added, “Unlike the current state of the art, we are not satisfied with product specs and static data which leaves too many gaps and uncertainties. We utilize a powerful fusion of dynamic, real-world data with machine learning and system simulations to more accurately predict system performance and Return on Investment.”
“And this is the pain spot,” Schwab said, “without these clear ROI models, it is hard to move forward with financiers in order to realize the full benefits of a Microgrid.”
“Currently we have several premium, paid pilots with large clients that understand the potential of the microgrid revolution. These clients wish to move now instead of waiting and keep losing money,” Pressler said, “this foot on the ground allows us to improve our technology based on real-world results, creating a valuable continuous feedback loop.”
The project is expected to reach alpha stage of development by Q2 2020 with first production versions ready at the beginning of 2021.
About Introspective Systems, LLC
Introspective Systems is the developer of xGraph, a breakthrough software platform that enables developers to build systems, optimize their entire environment of distributed systems, and deploy seamlessly. Designed for complex software ecosystems, xGraph combines edge computing with distributed analytics to speed processing time, enabling companies to scale, adapt to change, and manage large volumes of disparate data efficiently and securely. xGraph is AI-enabled for systems that require autonomous and collaborative decision-making. Companies use xGraph to meet the challenges of complexity in environments including healthcare, IoT, energy, and science. Learn more at IntrospectiveSystems.com.
Brightmerge develops an online cloud-based expert system that accurately and automatically/semi-automatically predicts a microgrid system’s energy and financial performance. The platform integrates data sets in one platform and automates decision making using ranking and optimization algorithms to choose the best components, suppliers, and contractors for each project. The company opened a fund round of $___ to complete the product and drive first sales.