Hello,
We have a new partnership announcement.
To help your understanding of why REDi made a new partnership, here is a brief market summary.
ESS is a large battery storing electricity generated from PV power plant. It enhances the utility of PV power plant, which only can generate power during the daytime. PV power plants can store electricity in ESS and send electricity on the grid at night upon the demand. For larger adoption of PV power plant, the installation of ESS is inevitable.
On contrast of the global trend, ESS is not widely used in S. Korea due to many fires. From Aug 2017 to May 2019, 28 fires on ESS were reported. This number of fires on ESS is very exceptional around the globe. The official scrutiny from the government with public experts was carried out a few times. So far, the exact cause of fires is still ambiguous.
To overcome the fire issue, EMS(Energy Management System) becomes more crucial. ESM can prevent fire by monitoring and controlling ESS. ESS will be a must-use option for PV power plant in future.
Watching the market situation, REDi decides to move into ESS and EMS market to capture future business opportunities and expand the range of services on the platform.
Encored monitors real-time power usage at households and analyze the power usage data to create further services. They also developed the device for monitoring and ESS. Softbank, George Soros, and other large corporates have invested in this future promising company.
REDi and Encored signed an MOU to work together on ESS and EMS for PV power plant.
Encored has already studied and developed ESS and EMS. REDi will promote ESS and EMS through the platform and start the study on ESS and EMS.
Thank you.
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※ About REDi
Through the industrial application of AI and blockchain, REDi aims to drive the digital transformation of renewable energy. We pursue a decentralized data marketplace whereby consolidated and verified data can be accessed by every industry participant.
