BP invests in Grid Edge
BP Ventures has led a Series A funding round in Grid Edge – a developer of artificial intelligence (AI) technology – that enables customers to predict, control and optimise their building’s energy profile. The investment is in support of BP Alternative Energy’s wider strategy of low-carbon power, storage and digital energy.
Grid Edge’s cloud-based software anticipates a building’s energy demand, allowing building managers to reduce their energy costs and carbon emissions, while maintaining comfort for users.
Using data including weather forecasts and expected occupancy, Grid Edge’s predictive energy management technology enables customers to adapt their energy use, leverage periods of high renewable power generation, and effectively use their building’s flexibility in energy demand and generation like a giant battery, to reduce costs and carbon emissions.
The technology typically enables customers to lower carbon emissions by 10 to 15%, with some registering a reduction of more than 30%. Airports, business districts and shopping centres can all benefit from the technology.
Source / More : BP
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