GridBeyond launches industrial production Process Optimiser tech in US
Image courtesy GridBeyond
Flexible energy management company GridBeyond has announced the launch of its Process Optimiser service in the US, enabling industrial sites to boost their profitability by optimising their production schedule against variable energy prices while guaranteeing production targets.
GridBeyond’s data-driven service uses digital simulations of each industrial process to identify efficiencies in plant schedules, optimising each sub-process against variable energy market prices while ensuring that overall daily and weekly production targets are met.
According to the company, by creating a “digital twin”, or virtual replica of the entire site, their tech captures every nuance of the industrial process and thus energy consumption, allowing industrial companies to schedule processes against machine learning-based forecasts of energy prices, to ensure cost of productions.
Commenting in a release was GridBeyond chief product officer Sean McEvoy, who said: “The launch of Process Optimiser in the US shows once again GridBeyond’s commitment towards continued innovation in flexible energy management and energy market optimisation.
“This product will empower manufacturing companies to optimise production schedules in the face of energy price volatility. By harnessing the power of data analytics, deep industrial expertise, and machine learning, companies can gain valuable insights into energy consumption patterns, identify cost-saving opportunities, and optimise production schedules in real-time.”
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Process Optimiser UK launch
The product’s US introduction comes four months after its launch in the UK in September 2024.
At the time, GridBeyond said the tech had the ability to generate up to £3,694,827 ($4.6 million) savings for cement manufacturing in a year.
The product was launched amid volatile energy prices in the UK, brought about as the increasing share of renewable energy sources into the country’s energy mix introduced more variability into the supply side of the electricity market.
Additionally, such variability introduced the danger of grid instability, where the balance between demand and supply can tip either way.
GridBeyond’s tech aimed to address this through data analytics, AI and machine learning, which generate insights for companies into their consumption to optimise their schedules and open avenues of flexibility.
Commenting during the product’s initial launch, Mark Davis, CCO at GridBeyond , said: “This product will empower businesses to better manage production schedules in the face of energy price volatility. By harnessing the power of data analytics, artificial intelligence (AI), and machine learning, companies can gain valuable insights into energy consumption patterns, identify cost-saving opportunities, and optimise production schedules in real-time”.
US case study
GridBeyond cites a case study where they helped a Texas-based cement plant reduce their annual energy costs by 12% and provide more visibility into site operations and identify new sources of previously untapped flexibility.
The case study is based on a cement plant in Central Texas with 7,500 tonnes of daily cement production, drawing on flexibilities in the cement mill (28.3t/MWh) and raw mill (69.5t/MWh) flexibilities, and based on ERCOT North Hub prices in 2023.
The cement manufacturing plant was using power to operate throughout the day, regardless of price spikes. While the site had a series of fixed asset parameters, GridBeyond helped the site find flexibility in its silo assets without impacting overall product quality or operations – providing an opportunity for significant electricity cost savings on electricity, generating bottom-line growth for the business.
By reducing production at the three silos on site when at or near maximum capacity and using algorithmic energy trading, the site was able to monetise its flexibility by participating in energy markets.
Working with GridBeyond, says the company, the site scheduled its energy consumption around price spikes and was paid to be in standby flexibility programmes.
Through its energy market optimisation services, GridBeyond ensured the site was traded in the highest revenue markets, reducing overall energy costs by 12% annually.
