Tell us about Power Transition
Our smart software architecture provides state-of-the-art cybersecurity and access to data, empowering organisations and people to take control of their energy, cutting costs and enabling the rapid transition to a zero-carbon economy.
- We have developed a revolutionary energy resource management platform for decentralised energy, using distributed ledger technology (DLT).
- We create flexibility and transform how energy is transacted, used, managed and traded by network operators, utilities, businesses and individuals alike.
- We dynamically track, optimise and balance energy transactions in real time, and at any scale, from micro grids to national grids.
What inspired you to develop PT?
- The need for energy sector solutions that integrate and realise democratisation, decentralisation, digitalisation and decarbonisation in response to the climate emergency.
- Friends, colleagues and collaborators for many years based in the South East of England.
- Recognition of the need to bring together deep industry knowledge and experience in innovation across energy and software development industries.
- Common goals: development of Sustainable Business frameworks that generate profit.
- Using business as a force for good.
Who are PT's customers?
- Transmission & Distribution Network Operators/Distribution System Operators
- Demand & Generation Asset Owners
- House builders and commercial developers
- Brokers, Aggregators and Utility Suppliers
- Energy Data Service Providers
How can Power Transition shake up the energy market?
- Power Transition is technology agnostic and works in parallel with existing platform providers to generate new revenue opportunities through creating access to secure, encrypted and immutable data.
- We provide a common language for energy transactions and trading that enables millions of buildings, vehicles and devices to become vital parts of the energy system.
- Our platform is demonstrated and application ready. The fractal architecture used means it's highly scalable from the individual home to national scale infrastructure.
- We facilitate the rapid increase and uptake of renewable energy and storage and generate new income streams for the energy sector.
What is iMaaS?
- iMaaS (integrated Microgrid as a Service) is a platform for residential and commercial microgrids and enables behind the meter Peer-to-Peer energy trading within a community.
- Application-specific decentralised applications (dApps) can be quickly developed and ‘plugged’ into the base platform to respond to specific user/stakeholder needs.
- Trusted exchanges can be made between peers without the intervention of a third party, managed via the Power Transition dashboard.
How can users of iMaaS benefit and how much can they save?
- Cost savings will typically be 20-30% off the household bills.
- Commercial sites can expect greater savings and this depends on the assets deployed, optimisation available and flexibility generated.
- Energy management is made easy and informed decisions can be made quickly via the platform dashboard.
- Real time carbon footprint information is available.
Can iMaaS users receive cryptocurrency?
- Yes, however, at this time all transactions are calculated and displayed in local currency. iMaaS runs its own FX exchange platform.
- Each unit or kWh of energy is tokenised on the Hedera Hashgraph public network using the cryptocurrency Hbars.
- Every home installation is equipped with its own secure cryptocurrency wallet.
- Later, actual cryptocurrency can be used to transact with other services e.g. real-time music streaming or online shopping etc.
When could I sell energy to my neighbour with Power Transition?
- With the infrastructure installed within the microgrid community, Peer-to-Peer trading among neighbours is possible.
- This can be performed automatically, with the microgrid optimising trades or via an individual contract.
- Currently, this can only occur behind the meter and where private wire infrastructure is in place.
What is iEda?
- iEda is purpose built for network operators to individually map the energy journey of each unit of electricity flowing through a network.
- It provides auditable, traceable and secure data through tokenisation of each kWh of electricity generated, distributed and consumed on the network.
- iEda provides immutable ledger records, identifies flexibility and provides energy asset optimisation and cost mitigation via a secure data record for embedded generation.
- Users can exchange reporting information in real-time.
What are the benefits of iEda?
- Benefits for DNOs include: automation in the balancing action process including EVs, lowers carbon footprint, reduces operational costs through avoided/deferred grid reinforcements and frees up critical capacity.
- Benefits for Asset Owners include: state of the art immutable security, high transaction speeds, access to new revenue streams, low energy operational footprint, guarantees secure exchange of records and transactions, immutable record of energy token throughout energy lifecycle.
- Benefits for Energy Customers nationwide include: reduced bills through reduced network costs such as DUoS and BSUoS and lower imbalance costs for suppliers may be passed onto customers.
Who else will benefit from PT?
- Residential households
- Commercial and industrial sites
- Local councils and boroughs
- EV infrastructure and car leasing companies
What problems can Power Transition solve for its customers?
- Identifies opportunities for battery storage, sizing and asset optimisation to support additional revenue streams for asset owners.
- Increase the granularity and accuracy of data aggregation and forecasting to support balancing mechanism services through voltage and dynamic frequency response.
- Enables real-time data analysis and automated balancing actions.
- Maintains reactive power by tapping into existing DER generation connected to the network.
- Identifies flexibility and reduces cost via a secure data record for embedded generation.
- Reduces infrastructure and connection costs through avoidance of constrained access arrangements.
- Planning gain, infrastructure cost reduction and opportunities for new business models behind the meter for developers.
- Provides secure, encrypted, auditable and standardised, more granular data improving forecasting and decision making for aggregators.
- Produces independent and real-time availability of consumption data through automation of reporting for suppliers.
- Verifies the origin of a clean energy supply.