LONDON, Dec. 18, 2019 /PRNewswire/ -- Based on its recent analysis of the European digital grid market, Frost & Sullivan recognizes DEPsys with the 2019 European New Product Innovation Award for developing an intelligent grid optimization platform called GridEye. With increasing penetration of decentralized generation, it is becoming more and more complex for distribution system operators (DSOs) to manage grid operations and infrastructure. Therefore, DSOs need to develop grid infrastructure and integrate distributed energy resources (DERs) into the grid, keeping in mind the volume of energy generated, economic constraints, and regulatory limitations. The GridEye platform digitalizes grid operation by integrating hardware and software components into various parts of the distribution grid. Its unique model-less approach towards distribution grid analysis and control enables decentralized intelligence and allows it to perform real-time grid analysis. This approach, combined with funding from industry majors, makes DEPsys well-positioned to expand its innovative technology to new markets the world over.
"GridEye is a combination of hardware and software components. The hardware includes sensors that aid measurement, control, and communication; they are placed on both the low and medium voltage parts of the grid and allow for high sampling and accurate, time-synchronized measurements," said Nikhil Vinay, Industry Analyst. "The software part of the solution is embedded in the hardware to perform edge computing in the field. The backend software supports full integration and communication with the distribution system operators' (DSOs') environment."
The GridEye system design revolves around minimizing expensive communication infrastructure and reducing Big Data issues. This objective is enabled by placing the hardware components at important and critical parts of the grid, such as secondary substations, cabinets, and influential nodes. In particular, GridEye solves issues such as network balancing, fault identification and localization by collecting data in real-time and analyzing it locally. By meeting the increasing need for digitalization of grids, GridEye has the potential to facilitate the energy transition to distributed energy resources (DERs) like solar PV and wind energy as well as distributed loads such as EVs.
While competing software solutions use network models, GridEye uses its ModelLess® Technology to analyze and control low voltage networks. This model-less approach is based on the accurate calculation of sensitivity coefficients, without the need to know any grid parameters. The absence of network parameters and the need for fewer hardware devices reduces the investments required. Although other companies offer particular parts of the solution, they do not have the range of applications. Specifically, GridEye provides 15 different grid tools with applications that range from grid security and balancing to managing operations and field personnel.
"A competitive advantage of GridEye is that even a few devices can help execute most of its applications on a part of the grid without any connection to other systems of the DSOs, thereby avoiding expensive system integration and issues with legacy systems," noted Vinay. "The attractive price structure of GridEye, with cost reduction possibilities for DSOs and funding from prominent venture capital firms, position it for healthy market expansion."
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which, in turn, raises customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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Contact:
Kristen Moore
P: 210.247.3823
E: kristen.moore@frost.com
About DEPsys
Depsys is a Swiss technology company that empowers grid managers to evolve their operations through digital technology which provides them with the intelligence, insights, and control to simply and successfully manage their operational transition to guarantee sustainable electricity for future generations.
Contact:
Marc Schreiber
P: +41 21 546 23 01
E: marc.schreiber@depsys.com
