Latest news with #GridBeyond
Yahoo
4 days ago
- Business
- Yahoo
ABB launches BESS-as-a-service business model
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. ABB announced last week that it will now offer a Battery Energy Storage Systems-as-a-service solution that allows companies to deploy battery storage without upfront investment, with ABB managing deployment, maintenance and optimization. 'The offer includes all hardware, software and lifecycle support,' ABB said in a Wednesday release, 'so businesses can focus on their core operations while improving energy efficiency, resilience and long-term sustainability.' ABB said it will offer BESS-as-a-service in partnership with GridBeyond, using GridBeyond's AI-driven platform to '[optimize] the performance of ABB's BESS-as-a-Service assets [and enable] real-time energy optimisation, demand-side response participation, and access to new revenue streams in global energy markets.' 'In addition, GridBeyond's platform will deliver accurate energy price forecasting to optimise energy storage operations enabling informed decision-making, allowing for strategic charging and discharging that aligns with market dynamics and prolong the life of batteries,' GridBeyond said in a Wednesday release. ABB said it designed BESS-as-a-service to be 'technology agnostic' and work with any type of battery technology. The company described the product as supporting a shift from capital expenditures, or upfront investments, to operational expenditures, or day-to-day costs. 'Customers tell us that while they want to deploy the latest technologies to improve energy security and reduce their emissions and costs, they face financial obstacles,' said Stuart Thompson, division president of ABB's Electrification Service Division. 'We see BESS-as-a-Service as not just a new offering but a strategic lever for the division's growth and innovation. We see significant potential to scale this globally.' GridBeyond said it and ABB will also collaborate with Tallarna, a climate tech and finance platform, which will '[bring] its data analytics software, insurance solutions, and financing expertise to de-risk BESS projects and provide visibility into the financial benefits of these initiatives.' Recommended Reading Electricity consumption is rising, driving solar, storage expansion: EIA
Yahoo
23-05-2025
- Business
- Yahoo
ABB and GridBeyond announce BESS-as-a-service offering
Smart energy company GridBeyond has entered a strategic partnership with technology company ABB to deliver a battery energy storage system-as-a-service (BESS-as-a-service) offering. The partnership aims to provide commercial and industrial customers with a fully managed energy storage service that requires no upfront capital investment. The collaboration follows ABB's strategic investment in GridBeyond in 2024 and combines ABB's expertise in electrification and automation with GridBeyond's intelligent energy management solutions. GridBeyond's AI-driven platform will be integral to optimising the performance of ABB's BESS assets, facilitating real-time energy optimisation and enabling participation in demand-side response programmes. Through this service, businesses can expect to see reduced energy costs, lowered carbon emissions, and enhanced resilience. GridBeyond's platform will also offer precise energy price forecasting, which will inform strategic battery charging and discharging decisions, aligning with market dynamics and extending battery life. GridBeyond CEO Michael Phelan stated: 'As a strategic investor and long-term partner, ABB shares our vision of accelerating the global transition to a flexible, sustainable energy system. Battery storage systems help to enhance grid stability, integrate renewable energy sources and improve cost efficiency for C&I customers. 'But to take advantage of these benefits, it is crucial to analyse the projects' feasibility, the financial implications, and have an accurate AI platform that can maximise batteries' potential. This partnership with both ABB and Tallarna supplies the expertise and resources to deliver successful solutions for C&I [commercial and industrial] customers and to ensure a successful transition to a net-zero future.' The partnership will also involve Tallarna, a climate tech and finance platform, to support this initiative. Tallarna will contribute its data analytics software, insurance solutions and financing expertise to mitigate risks associated with BESS projects and clarify the financial advantages of these investments. Tallarna CEO and co-founder Tim Meanock stated: 'BESS-as-a-service offers customers a reliable, sustainable and profitable energy solution, one that focuses on reducing risk and maximising financial benefits. This makes it easier for businesses to thrive in a rapidly evolving energy landscape.' In March 2025, ABB announced plans to invest $120m to expand its low-voltage electrification product manufacturing in the US. "ABB and GridBeyond announce BESS-as-a-service offering" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-02-2025
- Business
- Yahoo
GridBeyond Will Optimize 200-MW ESS in California
GridBeyond, a global artificial intelligence(AI)-powered energy group, on Feb. 27 announced it has signed a contract with Gore Street Energy Storage Fund to provide scheduling coordinator, trading, and energy optimization services for the 200-MW Big Rock energy storage system (ESS) in Southern California. GridBeyond, among the companies exhibiting at the InterSolar & Energy Storage North America conference in San Diego, California, this week, said its AI-based Bid Optimizer is key to achieving maximum returns in the California Independent System Operator (CAISO) market, as shown during a multi-month simulation with several optimizers. The Bid Optimizer aligns market price forecasts with simulations of battery storage, renewable, and thermal assets to simplify decision-making while ensuring optimal bids that go beyond conventional trading strategies, according to the company. POWER is a sponsor of the event at the San Diego Convention Center. Sean McEvoy, GridBeyond president of North America, told POWER: 'This opportunity with Gore Street Capital leverages GridBeyond's expertise in end-to-end battery management and trading. Our AI-based solutions ensure that our clients' assets are always optimized for maximum performance and profitability.' GridBeyond noted that the California power grid is becoming increasingly reliant on solar power, meaning that energy storage systems are key to mitigating to mitigate the intermittency of renewable power generation. The company said that 'effective management of Gore Street Capital's 200-MW energy storage battery will be critical in storing excess solar energy during peak generation and releasing it during high-demand periods, reducing reliance on fossil fuels and supporting grid stability, while generating revenues.' GridBeyond's CAISO optimization and proprietary must-offer strategy will be part of fulfilling the Big Rock Resource Adequacy contract acquired by a Goldman Sachs subsidiary in October 2024. Alex O'Cinneide, CEO of Gore Street Capital, said, 'Gore Street is committed to achieving the very best returns for all of its assets under management. We are therefore very pleased to have selected GridBeyond to partner with as Big Rock goes into operation and we move forward with the project.' 'We are thrilled to partner with Gore Street Capital on this energy storage project,' said McEvoy. 'This deal highlights our commitment to advancing energy storage optimization solutions and shows once again the accuracy of our AI-based solutions in delivering greater value for our customers ensuring grid stability, and supporting decarbonization goals.' GridBeyond also is exploring the use of public hourly emissions application programming interface, or API, data to track and calculate the carbon impact of its bidding strategies, which will further enhance the transparency of its optimization services and contribute to measurable environmental benefits. —Darrell Proctor is a senior editor for POWER.
