As the world is facing the urgent need to transition from fossil fuels to renewable energy sources to mitigate climate change. Cleantech software startup Gridcog understood that this transition poses logistical, technical, and economic challenges, including integrating intermittent renewables into the grid and optimizing energy storage solutions.
In today’s article let us explore 6 Facts you should know about Gridcog, a startup with a mission to help organizations transition to a decentralized and decarbonized energy future.
1.The core idea behind Gridcog
Established in 2020 in Australia and presently headquartered in London, Gridcog has developed a software platform tailored for modeling and simulating renewable energy projects.
The core idea behind Gridcog revolves around revolutionizing the energy sector by embracing decentralization, sustainability, and technological innovation.
Gridcog envisions a future where energy generation and distribution are no longer reliant on centralized, fossil fuel-based power plants, but instead are driven by distributed energy resources, renewable energy sources, and intelligent grid management systems.
In a nutshell the idea behind Gridcog is to transform the traditional energy paradigm into a dynamic, decentralized network of small, smart energy assets distributed throughout the built environment.
These assets include for example rooftop solar panels, battery storage systems, electric vehicle charging stations, and other forms of distributed energy infrastructure.
2.Founded by Pete Tickler and Fabian Le Gay Brereton, previously behind Greensense
Gridcog was conceived by Pete Tickler and Fabian Le Gay Brereton, former co-founders of the energy analytics startup Greensense. Following the successful acquisition of Greensense by Australian energy company ERM Power for AU$5.25 million (approximately $3.43 million).
Tickler and Le Gay Brereton observed the challenges faced by companies grappling with the intricacies of a decarbonized and decentralized energy grid.
According to Tickler speaking to Business Insider, energy companies found themselves “struggling to navigate the overwhelming complexity” while attempting to rely on outdated tools such as specialized software, spreadsheets, and consulting services.
3.Gridcog addresses 3 main challenges in the energy sector
Transition to Renewable Energy, Decentralization of Energy Systems, Market Dynamics are the most recognizable challenges in the energy sector today. Let us start with the transition to renewable energy ( The global effort to move away from using fossil fuels (like coal, oil, and natural gas) for energy and instead using sources like sunlight, wind, and water.)
Transitioning to renewable energy comes with hurdles such as figuring out how to efficiently use energy from sources like the sun and wind, and storing that energy for when it’s needed.
Gridcog utilizes computational modeling and mathematical optimization techniques to address complex challenges in the energy sector. These models help in understanding the behavior of different energy project options, providing insights into their performance and feasibility.
On Decentralization of Energy Systems, you may already know that traditionally, energy has been produced at large power plants and then distributed through extensive networks to homes and businesses.
Gridcog believein shifting away from this centralized model towards a more local approach where energy is generated closer to where it’s used.
Finally, the way energy is bought and sold is changing due to factors like the increasing use of renewable energy, fluctuating prices based on demand, and new rules and regulations governing the industry.
Gridcog helps people involved in the energy market understand and navigate these changes so they can make the most of renewable energy sources while still ensuring that the energy grid remains stable and dependable.
5.Diverse range of customers around the world
Gridcog clientele spans a diverse range of customers across the globe involved in various aspects of the clean energy value chain. The technology providers like Evergen and Mitsubishi Electric, Shell, Origin Energy, and Mitie are some of them.
Gridcog targets developers, utilities, suppliers, consultants, energy asset owners, networks, retailers, advisors, and consumers.
Gridcog works with entities involved in clean energy projects and initiatives. Specific companies mentioned include AusNet Services, Energy Australia, EY, Veolia, SNRG Horizon, M Power, Origin Energy, Macquarie Group, McDonald’s, and Simply Energy, among others.
6.The Gridcog platform is like a helpful guide for clean energy projects.
The Gridcog platform helps make decisions about clean energy projects easier. It uses special technology to plan and track these projects from start to finish. First, it looks at different options for the project and figures out which one is best. Then, it predicts how much money the project will make and how much pollution it will reduce.
It also keeps an eye on how well the project is actually doing once it’s up and running, so any problems can be fixed quickly. Gridcog’s platform is really good at handling lots of different kinds of clean energy projects, like solar panels or wind farms, and it helps people make smart choices about how to use them.
Gridcog develops mathematical models to simulate the behavior and interactions of various components within energy systems, such as solar PV systems, wind turbines, energy storage systems, electric vehicle (EV) charging infrastructure, and flexible loads. These models help in understanding the behavior of different energy project options, providing insights into their performance and feasibility.
Gridcog employs mathematical optimization techniques, specifically Mixed Integer Linear Programming, to find the best solutions for energy projects. This involves analyzing a multitude of variables and constraints to determine the optimal combination of asset sizes and controls that will deliver the best project outcomes considering factors like site constraints, asset costs, and energy market dynamics.
While Gridcog primarily relies on computational modeling and mathematical optimization, there’s also potential for applying AI and machine learning (ML) techniques in energy project modeling.
AI/ML can be used for tasks like forecasting energy demand or prices based on historical data, which can then inform decision-making processes. Additionally, AI/ML models can be integrated into real-time operational control systems for managing deployed assets, helping to optimize their performance based on current conditions and predictions.