The Latest News.
Sign up for FREE industry updates.
Reactive's next generation grid stability technology and innovative demand side response platform enable the transition to a lower carbon energy future
LONDON, Oct. 19, 2017 /PRNewswire/ — Based on its recent analysis of the distributed energy industry, Frost & Sullivan recognizes Reactive Technologies with the 2017 Global Company of the Year Award. Reactive Technologies is an energy tech company with a strong R&D culture and extensive intellectual property, with over 75 patents now granted and over 70 patents pending. Its unique technologies are a result of the merging of the company's deep communications heritage with its extensive energy experience, ideally placing the company as the industry leader in the global distributed energy space.
The global energy sector has been undergoing a shift in recent years from large, centralized conventional power sources to decentralized power generation, much of it coming from renewable sources. This shift to a greener energy mix is causing challenges for grid operators as renewable generation is intermittent in nature and does not materially contribute to underlying grid stability or "system inertia". As a result, energy systems are becoming more volatile making safe and cost-effective grid operation increasingly challenging. The growing penetration of variable electricity generation from renewables is increasing the need for grid visibility, which necessitates a move from data estimates to accurate data measurements, and much faster response times.
Reactive's approach to solving energy system challenges is very different- they are implementing cutting-edge technologies previously used exclusively in telecoms for the first time in the energy sector to solve the industry's greatest challenges and simultaneously benefit all system participants. Reactive's technology is set to positively disrupt the way end customers interact with their energy and the way grid operators manage their systems by making demand side response (DSR) smarter, and leading innovation in the grid space to allow for an ultra-fast and future-proof energy service to offer to businesses and generators.
"Reactive Technologies has established itself as a leader in demand side response and next generation grid solutions through targeted innovation that focuses on creating technology based not only on current needs, but anticipated future needs, " said Frost & Sullivan Principal Gautham Gnanajothi. "For example, the company's DSR solution, the Tradenergy® platform, connects to customers' electrical assets via a secure, cloud-based platform , eliminating the need for a costly physical interface to be installed."
Reactive's Tradenergy® is a DSR and integrated energy management cloud-based platform that allows grid operators to:
Remotely optimize energy consumption of individual electrical assets, such as HVAC, lighting, storage, refrigeration, to name a few;
Decrease reliance on a small number of high output, carbon-intensive sources; and
Actively manage energy risks, ranging from energy price risk to imbalance risk to use of system charges.In the grid space, the company's solutions include:
GridMetrix: a powerful grid measurement and data visualisation tool that delivers unique system data and deep insights to help manage electric systems in real-time and drive critical grid investment and reserve services procurement decisions;
Inertia Optimized Frequency Response (IOFR): a service that is able to detect a system destabilization event seconds before it would otherwise be detected and enable a response faster than any service currently being offered; and
Grid Data Measurement System (GDMS): first communications solution that broadcasts data messages through an entire national grid using existing electrical infrastructure which allows electrical devices, ranging from industrial chillers to energy storage devices, to participate in DSR without the need for an internet/cellular connection or any type of advanced interface. "Reactive's cutting-edge technologies enable the shift to a lower carbon energy mix, allowing grid operators to safely operate in a low inertia energy environment, and, ultimately, deliver value to consumers via reductions on their energy bills," said Gnanajothi. "Reactive Technologies' grid stability technology helps grid operators measure inertia on the grid, improve grid efficiency, maintain security of supply, reduce energy service spend, and contribute to a sustainable use of resources. Through its dedication to creating leading DSR and world-first grid technologies, the company is able to address the unmet needs of the global market, and position itself for strong growth potential."
It is Frost & Sullivan's finding that Reactive Technologies' innovative solutions will be highly successful in helping grid operators improve grid efficiency, maintain security of supply, reduce energy costs, and contribute to a sustainable use of resources. Furthermore, Reactive's Tradenergy® platform ensures customers are optimized across the highest value energy opportunities and that their energy usage is made more efficient through the use of integrated energy management. For the above reasons, Reactive Technologies has earned Frost & Sullivan's 2017 Global Company of the Year Award.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
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.
About Reactive Technologies
Reactive Technologies is an energy tech company facilitating the transition to a low carbon future through the implementation of cutting edge communications technologies to help solve some of the energy industry's greatest challenges. Innovation is at the core of Reactive's breakthrough solutions, with over 75 patents granted, a further 70 pending and a number of World Firsts being achieved for system inertia measurement and grid data communications. The company was founded in 2010 and has offices in the UK, Finland and France. Reactive is backed by a range of green tech investors including Octopus and RES. For more information, please visit www.reactive-technologies.com
Carina CorreiaP: +44 (0)7795472328E: email@example.com
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
Samantha ParkP: 210.348.1001F: 210.348.1003E: Samantha.Park@frost.com
Photo – http://mma.prnewswire.com/media/586487/Frost_Sullivan_Reactive_Technologies_Award.jpg
SOURCE Frost & Sullivan
RIYADH, Saudi Arabia, Oct. 18, 2017 /PRNewswire/ —
To support efforts to increase energy efficiency across government and public buildings The Public Investment Fund (PIF) has announced the establishment of a new energy service company, Super Esco, designed to increase energy efficiency across government and public buildings.
A Royal Decree has been issued requiring all government entities to contract Super Esco on an exclusive basis in order to improve energy savings across public buildings and facilities. The company was established to stimulate the growth of the Kingdom's energy efficiency industry, in line with the objectives of Vision 2030 to diversify the economy and drive environmental sustainability.
In partnership with the Ministry of Energy, Industry and Mineral Resources, the Ministry of Finance, and the Saudi Energy Efficiency Center, Super Esco will provide new investment opportunities by creating partnerships with the private sector to deliver projects.
Projects in Saudi Arabia's energy efficiency sector have an estimated value of SAR 42 billion, or around SAR 3 billion annually. Internationally, the sector is valued at SAR 130 billion, with projects in the US, Europe, and China accounting for 90 percent of the global market share.
Super Esco has been established with a capitalization of SAR 1.9 billion. The company will fund and manage the retrofit of government and public buildings, which represent over 70 percent of overall projects in the sector. These projects will help reduce government spending on the electricity sector, which will in turn reduce natural resource consumption while rationalizing capital investments in expansion projects for the production, generation, transmission, and distribution of electricity.
SOURCE The Public Investment Fund
MELBOURNE, Australia, Oct. 17, 2017 /PRNewswire/ — From October 11 to October 12, during ALL ENERGY 2017 Exhibition in Australia, ET Solar, as a global well-known photovoltaic module manufacturer, showed three Australian boutique modules sold successfully including a ET-M672360WW, and launched the first residential photovoltaic energy storage product E-Store Home, creating the "PV+ energy storage" integrated system, and allowed the photovoltaic clean energy to be used in ordinary family homes.
The "PV+ energy storage" is the future development direction, and the Government of Australia not only recognizes the economy, but also accelerates boosting it firstly in the public utility enterprises of the rural area and remote area of Australia. E-Store Home residential energy storage issued by ET Solar for the first time worldwide during ALL ENERGY 2017 Exhibition aroused the widely concern and great interest of local industrial experts, clients, dealers, installers and media of Australia, and attracted dozens of partners to discuss cooperation on site.
E-Store Home is characterized by safety, economy, intelligence, beauty and convenience for installation. E-Store Home selects LFP battery, DoD performance reaches 90%, the service life is up to 10 years, and the safety of the battery is better than that of Powerwall of Tesla. The dust prevention and water proof design of Ingress Protection 65 can exempt from the safety concern for users. E-store Home can realize 85% self-consumption, reduce the electric quantity purchased by user from power grid, and sharply save the electricity fee cost. Through measurement of laboratory, with energy storage users can save almost 1,000AUD electricity fee each year. E-store Home is also equipped with intelligent cloud monitoring, and the user can easily use the mobile APP to timely track the operation of the whole system at 24h every day, and remotely adjust and optimize all system parameters. The UPS function of E-store Home can supply power intermittently at 24h to the regions where frequent power failure is caused by unstable electricity or harsh environment, in addition of powerful function, the switching time of off-grid and connected grid is less than 20ms, ensuring intermittent and available electricity at any time for the powerful functions, E-Store Home uses the unique modularized and split design, conforms to the modern living aesthetics, and can be combined flexibly to sharply reduce the installation cost. E-Store Home has awarded the certification of international authority TUV/CE/IEC, and provides 10-year battery quality assurance for users.
"Since entering the Australian market, ET Solar has always actively been coped with all challenges brought by change of Australian market and continued to boost innovative products, ET Solar modules have spread over South Australia, Gold Coast, Western Australia and other places, and obtained good reputation", Chairman of ET Solar Hao JingXiang expressed, "The boosting of the energy storage product perfects the product system of ET Solar in Australian market, so that our photovoltaic solution owns more competitive advantage. In the future, we will also continue to boost more new products and new technologies to market, rapidly boost the Australian photovoltaic market together with our Australian partners, and bring more clean electricity for industry and household roof of Australia."
SOURCE ET Solar New Energy Co. Ltd
ZHONGSHAN, China, Oct. 17, 2017 /PRNewswire/ — Asia Clean Capital (ACC) and Danone China Food & Beverage (Danone) on Oct. 13, 2017 held the grid-connection ceremony for Danone Zhongshan factory's solar project in Zhongshan City, Guangdong Province. Party committee member of Xiaolan town, Zhongshan city Li Jiahao, Director of power supply in Xiaolan town, Zhongshan city Li Guoqiang, Operations Vice President of Danone China Food & Beverage Erwin Van Grootel and Asia Clean Capital CEO Thomas Lapham attended the ceremony.
The project is Danone's first solar PV (photovoltaic) project in China and it also marks an important step for ACC in Southern China. ACC invested 100 percent of the system costs and undertook the design, construction, and long-term system maintenance. Electricity from the solar systems will be provided to Danone at competitive rates. Over its lifetime, the system will save approximately 55,000 tons of CO2, which is equivalent to planting over 1.2 million trees1.
"Asia Clean Capital is honored to cooperate with Danone on rooftop solar," said Thomas Lapham, CEO of ACC. "Danone is one of the world's greatest food companies with factories across China and the world. Danone Zhongshan can serve as a springboard to implement solar across these many facilities and make a major positive environmental impact."
Danone is devoted to reducing its carbon footprint and implementing green energy. Operations Vice President of Danone, Erwin Van Grootel said "We are happy to witness the inauguration of Danone China's first solar PV project. In the past, we used green energy indirectly. Now, we generate and use green energy directly. This is an important step for us to reduce carbon emissions, and we have already identified the next factory where we will install solar panels."
1 Calculation is based on calculation method and basic data provided by United States Environmental Protection Agency
About Danone China Food & Beverage
In Nov 2008, Danone (China) Food & Beverage Co.,Ltd Management Headquarters was found in Guangzhou. The company's main productions include Mizone Vitamin Beverage,MI-PRO, Lemonade, etc. Mizone is growing rapidly and has become one of the leading brands in the beverage market in China. Danone (China) Food & Beverage Co.,Ltd insists on fulfilling the corporate social responsibility. The company keeps investing in projects of the water resources protection, ecosystem restoration, climate change, community shared value, sustainable agriculture & sustainable packaging, etc.
About Asia Clean Capital
Asia Clean Capital Ltd. ("ACC") is a leading clean energy solutions developer that serves large multinational and domestic firms throughout China. Focused on rooftop solar projects, ACC invests 100 percent of the project costs and provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems. All electricity produced is then provided to clients at agreed rates lower than when purchased from the local power grid. Existing clients include Nestle, Coca-Cola, COFCO, Volkswagen, Unilever, Wahaha, Tsuneishi, and others. The company has offices in Beijing, Shanghai, Tianjin, and Hong Kong.
Contact Asia Clean Capital+86 10 5869 firstname.lastname@example.org
Photo – https://photos.prnasia.com/prnh/20171016/1966654-1
SOURCE Asia Clean Capital (ACC)
JAKARTA, Indonesia, Oct. 17, 2017 /PRNewswire/ — On 15thOctober 2017, Cirro Capital Limited, a Malaysian-based investment and financial services company has sealed yet another plantation acquisition, this time in the Riau Islands of Indonesia. This is its second acquisition in the last 2 months. Utilizing approximately USD 2.2 million, Cirro acquired 49% equity stake of a plantation that covers almost 1,000 hectares.
The palm oil industry is one of the few industries in Indonesia to show continual robust growth over the past 2 decades. This growth is reflected by the country's rapidly rising production and export figures, as well as the land estate dedicated to the production of this commodity. By end 2016, Indonesia accounted for 54% of the global supply of palm oil.
Over the course of the past 2 years, the prices of palm oil have fluctuated between USD 558 to USD 789 per metric tonne, with an overall upward trend that has been maintained since 2015. This is largely due to the increase in demand for palm oil from Chinese and Middle Eastern regions, all committed to the infrastructural development of the Belt and Road initiative launched back in 2013.
Palm oil, a core component of biodiesel that can be used to power trains and trucks, form the backbone of renewable energy that is used to power the re-construction of the Ancient Silk Road Economic Belt.
Nicholas Chesson, CEO of Cirro Capital said, "We believe the Belt and Road initiative to be one of the great generators of demand in the next century. Over the past 4 years, billions have been poured into the region, and in the years to come, many times more. Biodiesel derived from palm oil, is the only rapidly renewable source of energy other than fossil fuels that is available now, and will remain as such for the near future. Thus, we expect our investments in the productions facilities of palm oil to continue to yield very positive returns for at least the next 5 years."
Cirro Capital is an investment and financial services company targeting potential investment related to the Belt and Road Initiative.
Photo – https://photos.prnasia.com/prnh/20171016/1966712-1
SOURCE Cirro Capital Limited
WENZHOU, China, Oct. 16, 2017 /PRNewswire/ — ZK International Group Co., Ltd. (NASDAQ: ZKIN) ("ZKIN", "ZK International", or the "Company"), a designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products for projects that require sophisticated water or gas pipeline systems, is pleased to announce that the Company has signed an initial pipeline infrastructure contract with Huawei Technologies Co. Ltd. ("Huawei"), a leading global information and communication technology solutions provider, for $2 million USD.
With the sharp rise in housing costs particularly in Shenzhen City of Guangdong Province, otherwise known as the 'Silicon Valley' of China, Huawei has allocated an estimated $2 Billion for the construction of housing facilities specifically for its employees. ZK International will be providing its patented water pipeline infrastructure for the development and renovation of the $1.516 Billion Dollar 'Songshan Campus Employee Apartment Project' and as well as renovation work on the $561 Million Dollar 'Suzhou Campus Project'. Along with supplying its proprietary piping material, ZK International will also be providing technical support for the apartments, office buildings and all other facilities associated with the build out.
Mr. Jiancong Huang, ZK International's Chief Executive Officer, stated, "We are proud to have a close working relationship with Huawei, one of the largest telecommunications equipment manufacturers in the world, as a Qualified Pipeline Supplier since 2014. Huawei has laid out a development plan to renovate and develop its 10 campuses over the next 3 years. As part of this growth in the build out of their infrastructure, it is anticipated their annual demand for pipeline will reach $10 Million. We are very excited to continue building our relationship with global and well respected brand like Huawei."
About Huawei Technologies Co.
Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by a commitment to sound operations, ongoing innovation, and open collaboration, they have established a competitive ICT portfolio of end-to-end solutions in telecom and enterprise networks, devices, and cloud technology and services. Huawei's ICT solutions, products, and services are used in more than 170 countries and regions, serving over one-third of the world's population. With 180,000 employees, Huawei is committed to enabling the future information society, and building a Better Connected World.
About ZK International Group Co., Ltd.ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the "Water Cube" and "Bird's Nest", which were venues for the 2008 Beijing Olympics. Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water to not only to the China market but to international markets such as Europe, East Asia and Southeast Asia. For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.Safe Harbor Statement
This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are described more fully in ZK International's registration statement on Form F-1 that was filed with the SEC. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.Investor Contact:
KCSA Strategic Communications Valter Pinto, Senior Vice President PH: +1 (212) 896-1242 ZKInternational@KCSA.com
SOURCE ZK International Group Co., Ltd.
HO CHI MINH CITY, Vietnam, Oct. 16, 2017 /PRNewswire/ — Only three weeks to go and Vietnam's leading renewable energy and energy efficiency exhibition – RE & EE Vietnam will take place at SECC, Ho Chi Minh City, welcoming several international pavilions, including mainland China, the EU, Finland, Germany, Taiwan, SME Tokyo, Singapore and the UK.
This third edition of RE & EE Vietnam will highlight a wide range of new technologies for photovoltaic modules, the conversion of sludge to renewable energy, multi-fuel power, hydropower stations, biogas, biomass, thermal insulation and energy efficiency.
Ms. Eliane van Doorn, Business Development Director (ASEAN Business), UBM Asia, the organiser of RE & EE Vietnam said, "Climate change is not just an environmental issue. It is a development issue, which has enormous economic and social consequences. The challenge for the region's developing countries is whether they can switch to a less polluting pattern of production while maintaining the growth and development they require. In Vietnam the energy demand is projected to increase by more than 10 percent annually in the next five years and requires power capacity to double; the government is moving forward to develop the renewable energy sources to ensure energy security and addressing the growing power demand. Hence, we are excited that our RE&EE Exhibition will bring several potential solutions for the Energy Sector."
As the relationship between water and energy production is extremely close and co-dependent, UBM Asia organises RE&EE Vietnam together with VIETWATER, Vietnam's leading international water supply, sanitation, water resources and purification event.
According to Ms. Adina Tauyatswala, Deputy Director of EU-Vietnam Business Network (EVBN), one of the partners of RE & EE Vietnam, "The companies joining our European pavilion aim to find professional and experienced distributors for their products; to build connections regarding big energy infrastructure projects such as solar parks and wind parks, as well as to research and develop the partnerships with Vietnamese research institutes and companies."
In line with the exhibition, some free-to-attend sessions at technical seminars will take place during the three-day event. At the conference, with the theme "Towards developing renewable energy and energy efficiency projects in Vietnam", industry experts will present their experience of operating and managing some of the recent renewable energy projects in Vietnam, and will give the latest updates on the new policies and incentives in Vietnam.
Again, the 3rd exhibition is supported by EU-Vietnam Business Network (EVBN), Energy Conservation Center Ho Chi Minh City (ECC-HCM), Vietnam Energy Conservation and Energy Efficiency Association (VECEA), and Vietnam Automation Association (VAA) that opens opportunities to connecting and learning from local and international associations.
Secure your visit by registering online with our pre-registration system.
Check out our website: www.renergyvietnam.com for more detailed information about the exhibition.
Notes to Editors:
About UBM Asia (www.ubmasia.com)
With a track record spanning over 30 years and a strong global presence in 24 major cities across Asia and in the US, UBM Asia is the largest trade show organiser in the region, and the largest commercial organiser in China, India, Malaysia and Thailand. We provide you with a one-stop diversified global platform for high value business matching, quality market news and online trading networks. Every year, we connect over 2,000,000 buyers and sellers from 150 countries and regions.
Photo – https://photos.prnasia.com/prnh/20171016/1966597-1 Logo – https://photos.prnasia.com/prnh/20171016/1966597-1LOGO Logo – http://photos.prnasia.com/prnh/20170222/8521701055LOGO
SOURCE UBM Asia (Malaysia)
SHANGHAI, Oct. 12, 2017 /PRNewswire/ — Shanghai-based start-up Energo Labs (www.energolabs.com) is combining blockchain technology with microgrids to decentralize energy production and consumption, which can help rural electrification as well as grid resilience. Decentralized ecosystems also minimize the problems caused by large infrastructure, while allowing users to choose where their energy comes from.
Despite the extensive role of technology in daily life, approximately 17%1 of Filipinos today have no access to electricity. Moreover, given the frequency of natural disasters in the country, the three main public grids in the Philippines are prone to damage and thus unstable supply of electricity. Another problem with the current grid is that majority of the generation sites are far from the load centers, leading to long-distance transmission lines that can often be damaged and are risky and costly to operate. One way to ensure energy security in such a location is by decentralizing the generation and creating a Decentralized Autonomous Energy (DAE) community, so that energy can be produced anywhere and shared between consumers around the neighborhood.
Energo Labs uses microgrids with a storage system so that energy producers, such as those with solar panels, can sell their energy to their neighbors for money. This type of peer-to-peer (P2P) energy trading, based on infrastructure that will be operated and maintained by the local community, opens up the energy market and allows areas to meet their base load electricity demand using clean energy.
Currently, less than 1.5%2 of all electricity generated in the Philippines comes from renewable sources like wind and solar. Moreover, the Filipino government approved feed-in-tariff (FiT), payments for electricity exported into the grid, in 2012 but the rate was lower than that asked for by renewable energy developers and investors, leading to minimal impact. Energo's decentralized solution encourages communities to first use the renewable energy generated in the microgrid, thus decarbonizing the energy sector, and also provides solar PV cell owners a new source of income.
The energy produced and consumed by each house in the microgrid, as well as the amount bought and solar between houses, is quantified by Energo smart meters, and blockchain technology is used to eliminate the need for a third party to carry out energy transactions while ensuring all data is still secure and transparent. Energy can be bought and sold via the Energo phone app.
The start-up already has projects underway in the Philippines, which has ignited interest in the potential of blockchain in the country while highlighting how different types of microgrids can be implemented across islands. Energo will also be launching projects in South East Asia, Netherlands, and Korea, and has a strong community for their cryptocurrency TSL, whose exchange will soon be launched in international platforms in Korea, Thailand, and other countries.
In addition to on-site projects, the international start-up aims to promote discussion about the role of clean technology in sustainability through their Asian Clean Tech Entrepreneurs Community (ACTEC), which has already hosted events in Shanghai, Bangkok, and Beijing. Energo Labs will also be present at the ASEAN Solar + Energy Storage3 conference hosted in Manila on November 14-15, hosting a booth to present their solution and products.
Citations:  https://www.pids.gov.ph/press-releases/134  https://www.doe.gov.ph/electric-power/2015-philippine-power-situation  http://www.aseanenergystorage.com
SOURCE Energo Labs
STOCKHOLM, Oct. 12, 2017 /PRNewswire/ —
An updated Cost of Energy analysis of Minesto's unique ocean energy technology shows substantial improvements compared to previous estimates.
"These new results convince me that our technology is transforming ocean energy into one of the most cost-effective energy resources", said Dr Martin Edlund, CEO of Minesto.
As part of its first commercial-scale project, Minesto together with ITPEnergised has completed an updated Levelized Cost of Energy (LCOE) analysis of Minesto's marine energy converter based on new knowledge of the system, its potential and its costs.
Projections now show that Minesto's LCOE will already fall to EUR100/MWh after 100MW cumulative installed capacity in tidal streams. Previous estimates showed a 50% higher cost level. This means that Minesto's technology already at an early stage will be more cost effective than established energy such as new nuclear power.
Installing arrays of Minesto devices in continuous ocean currents, providing a much higher capacity factor than tidal streams, will have an even greater impact on the LCOE, with costs falling below EUR50/MWh following the installation of 100MW cumulative capacity.
"This claim is unique in the ocean energy industry – but so is our technology. It is the only known and verified marine energy product that can be deployed in continuous low-flow ocean currents, providing cost-effective renewable base load power generation to grids both large and small all over the world", said Dr Martin Edlund, CEO of Minesto.
He continued: "These new results convince me that our technology is transforming ocean energy into one of the most cost-effective energy resources. The figures are underpinned by our light-weight design, our unique operations and maintenance concept and the fact that we will be operating at low-flow sites. It should also be noted that this analysis is based on conservative learning rates and initially high operating and maintenance cost levfels expected from all new innovative solutions."
The substantial LCOE improvement has two main drivers, said Dr Edlund: "First, the expected performance of each system has improved. This can be attributed to our quarter-scale test results, new simulations data and a new verified turbine blade design developed in-house. Secondly, our operating and maintenance concept has improved considerably."
Commenting on the updated LCOE analysis, Dr Ned Minns, Offshore Group Manager at ITPEnergised said: "Minesto compare well to other tidal energy technologies, with significantly lower capital costs. Their cost reduction trajectory in the coming years is on the conservative side due to the cautious assumptions used throughout. Their forecast learning rate matches the prediction by SI Ocean*, however it is only half of that recently achieved by offshore wind and solar, according to Bloomberg**. High levels of learning are more readily achieved by innovative designs like Minesto's, and if they follow the path of offshore wind and solar, their cost reductions could be achieved sooner than predicted in the model."
"Minesto's diligence when using the most accurate data available, and creating a model based on standard practice, has led to the creation of an extremely thorough Cost of Energy forecast model which probably doesn't have an equal in the industry", Dr Minns added.
* Strategic Initiative for Ocean Energy, a project coordinated by Ocean Energy Europe in close cooperation with the European Commission's Joint Research Centre, the UK Carbon Trust, Portugal's Wave Energy Centre, Edinburgh University, Renewable UK and DHI.
** Bloomberg New Energy Outlook 2017
For additional information please contact:
Dr Martin EdlundCEO, Minesto ABemail@example.com
Magnus MatssonCommunications Manager, Minesto ABfirstname.lastname@example.org
Background: Minesto's Cost of Energy model and technology development milestones
Minesto's Cost of Energy model was originally developed in collaboration with ITPEnergised in 2015. It is based on a combination of the Carbon Trust and SI Ocean methodologies, both widely used in the tidal industry, to calculate the LCOE of Minesto's ocean energy technology. The model is used both as a LCOE calculator and a forecaster, enabling the prediction of the LCOE through the development of new generations of Minesto devices over time.
Functionality and power production of Minesto's technology have been verified in ocean testing of scale prototypes. To date, five prototypes have been built and tested, and electricity was first produced in 2009.
The first test of the technology in authentic ocean environment was completed at Minesto's test and demonstration facilities in Strangford Lough, Northern Ireland by the end of 2011. In 2013, a 3-meter wing prototype was deployed and that scale has since that been undergoing extensive testing in the tidal streams of Strangford Lough.
Minesto's research and product development plan is to continue prototype testing in Northern Ireland, and in parallel build and commission a 0.5MW device in Holyhead Deep, Wales. The purpose is to demonstrate Minesto's marine energy converter in commercial-scale. This installation, planned to 2018, will be followed by a gradual expansion to a multi-turbine array. In February 2017, Minesto announced plans to expand the installed capacity in Holyhead Deep to 80MW.
Minesto is a marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.
Minesto's award winning and patented product, called Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.
In May 2015, Minesto secured a EUR13m investment from the European Regional Development Fund through the Welsh European Funding Office, for the commercial rollout of Deep Green.
Minesto was founded in 2007 and has offices in Gothenburg, Sweden, Holyhead, Wales and Portaferry, Northern Ireland. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on the Nasdaq First North Stockholm stock exchange, with G&W Fondkommission as Certified Adviser.
Read more about Minesto at www.minesto.com
Press images and other media material is available for download via bit.ly/minestomedia.
ITPEnergised is a leading international consultancy offering renewable energy, natural resources, environmental, engineering, technical advisory and asset management services for clients with onshore and offshore projects.
ITPEnergised's expertise in offshore energy projects dates back to 1991 and this experience in the sector allows the company to offer comprehensive, technical consultancy on offshore engineering design and due diligence. ITPE offers a range of project support services to project developers as well as providing strategic advice to private clients on their market business plans and governmental agencies on their techno-economic feasibility assessments for offshore energy.
Following Energised Environments Limited's acquisition of Bristol-based IT Power Consulting Limited in mid-2016, the merged businesses have been re-branded as ITPEnergised.
Read more about ITPEnergised at www.itpenergised.com
The information in this press release is such that Minesto AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 09:00 CEST on 12 October, 2017.
This information was brought to you by Cision http://news.cision.comhttp://news.cision.com/minesto-ab/r/minesto-s-technology-transforms-ocean-energy-into-one-of-the-most-cost-effective-energy-resources–n,c2366156
The following files are available for download:
SOURCE Minesto AB
CHELMSFORD, England, Oct. 12, 2017 /PRNewswire/ —
Acquisition Further Positions Company For Significant Offshore Power Market Opportunities
Global Marine Group ("GMG"), a leading provider of offshore engineering services to the telecommunications, oil & gas, and renewables industries, announced today that Global Marine Systems Limited ("GMSL") has entered into an agreement with Fugro N.V. ("Fugro") (AMS: "FUR") under which GMG will acquire Fugro's trenching and cable lay services business.
The purchase consideration, valued at approximately US$73 million, consists of the issuance to a subsidiary of Fugro of a 23.6% equity interest in Global Marine Holdings LLC (the parent company of GMSL), valued at US$65 million, and an obligation of GMSL to pay Fugro US$7.5 million within one year pursuant to a secured vendor. The acquisition of Fugro's trenching and cable lay services business involves the transfer to GMG of 23 Fugro employees located in Aberdeen, as well as one vessel (M/V Symphony), two powerful Q1400 trenchers, and two work class remotely operated vehicles. Built in 2011, the M/V Symphony, a multi-purpose vessel with an extensive 1,400m² deck space, will join GMG's cable installation and maintenance fleet. In addition, as part of this transaction, Fugro will become the preferred provider of marine site characterisation and asset integrity services to GMG.
The acquisition will significantly enhance GMG's portfolio of service offerings to the market, with a comprehensive range of integrated services, with the immediate capacity to complete additional packages of work in direct response to market demands. This transaction will provide GMG with highly capable, proven assets with a history of delivering complex engineering projects to customers around the world.
Fugro is the world's leading, independent provider of geo-intelligence and asset integrity solutions. Fugro acquires and analyses data on topography and the subsurface, soil composition, meteorological and environmental conditions, and provides related advice. With its geo-intelligence and asset integrity solutions, Fugro supports the safe, efficient and sustainable development and operation of buildings, industrial facilities and infrastructure and the exploration and development of natural resources.
Since the founding of Fugro's trenching and cable lay services business in 2012, Fugro has established a strong presence in the renewables market, working with offshore wind farms including Lincs Wind Farm, Humber Gateway, Gwynt y Môr and Rampion. The business has also conducted multiple operations in oil & gas for major oil companies such as Shell and BP.
"This acquisition is another deliberate step in our strategic plan, adding extensive capabilities of the Fugro trenching and cable lay team to the Global Marine Group and further equipping us with proven assets to support our growth plans," said Ian Douglas, CEO of Global Marine Group. "I am delighted that Fugro identified us as the right partner to advance their trenching and cable lay business and I am looking forward to welcoming the Aberdeen based trenching team to our corporate family. We are committed to our vision of engineering a clean and connected future and we will continue to build, align and adapt our business in order to meet the evolving needs of our customers."
"As we continue to carefully build and develop our business in support of our long-term strategic view, we are delighted to partner with Fugro," added Dick Fagerstal, Executive Chairman of Global Marine Group. "Fugro's long standing world-wide expertise in many segments of the offshore services markets will greatly benefit the Global Marine Group as we work towards our goal of delivering attractive risk adjusted returns for all our constituents."
"A key objective of Fugro's 'Building on Strength' strategy is to seek a partnership or divest our construction and installation related marine activities," said Paul van Riel, CEO of Fugro. "We have taken a major step forward in delivering on this strategic objective by contributing our trenching and cable lay services business towards a promising partnership with Global Marine Group. Fugro will participate in a profitable and diversified business with solid growth potential. This step will also support Fugro's growth in the nautical market segment."
The transaction is subject to customary closing conditions, and is expected to close in the fourth quarter 2017.
SOURCE Global Marine Group