Yverdon, June 13, 2016 - DEPsys raises CHF 3 million in a Series-A financing round from Statkraft Ventures, VNT Management and ONE CREATION. It's the first round of financing for this Swiss startup active in the field of smart grid solutions. The company's products and services help grid operators efficiently managing the increasing amount of renewable energy without investment in the grid itself.
Electrical grids have been designed for central energy production and top-down distribution to consumers. With the increase of renewable energy from decentralized solar and wind installations, as well as batteries, the electrical stability of the networks is no longer guaranteed. The DEPsys GridEye smart grid solution monitor and control the network in real-time to stabilize the system, secure the supply and optimize the energy flow using intelligent algorithms in a decentralized architecture.
DEPsys customers have been using GridEye for nearly two years in Switzerland. With precious insights gained from long-term monitoring and the ability to control energy flows, they have been able to avoid costly network extensions, to improve grid stability and to use energy that otherwise would have been lost. One of the big distribution operators in Western Switzerland included the product in its strategic roadmap for 2030, planning a full rollout across its entire network. The third version of the GridEye solution is now entering the industrial production phase and the company is starting the market development across Western Europe.
"The potential for smart grid solutions is huge. In the coming years, all operators will have to address the problems that renewable energy will create in the distribution grid." says DEPsys CEO Michael De Vivo. "Our solution has the advantage to be simple to install on existing equipment without the need for a complex network model, which is even more important in emerging countries, where the grid topology is not known. The solution doesn't require a big central computing infrastructure or heavy data communication loads and helps the customer to reduce capital and operating expenses."
“The increasing amount of renewable energy puts enormous pressure on today’s grid infrastructure. DEPsys‘ suite of products helps grid operators to manage these changing environments and improves the utilization of the low voltage grid, while keeping costs under control” says Dr. Matthias Dill, Managing Director of Statkraft Ventures.
"The DEPsys solution has the potential to become the leading real-time control platform for the management of low voltage grids. Distribution System Operators will especially benefit from its plug-and-play concept, its easy installation and the absence of a grid model, which avoids cumbersome regular updates." says Peter Auner, Partner of VNT Management.
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