Fintech meets Greentech in the Utilities Sector
— James Bradley AquaQ CSO
BELFAST, NORTHERN IRELAND, January 28, 2021 /EINPresswire.com/ — AquaQ Analytics, the Belfast based software and consultancy company, is pleased to announce a strategic partnership with The Electric Storage Company (TESC). The partnership will see the roll out of the PARIS platform. This is where Fintech meets GreenTech, PARIS uses leading edge financial services software to gather data from smart batteries in people’s homes and communities and then ensures they get the cheapest, greenest energy. Why is it called PARIS? It is a Predictive Analytics Renewables Integration System.
“From the moment we met and engaged with The Electric Storage Company, we were excited about the innovative nature of the project. Within the renewable and flexible energy vertical there are a lot of similarities to electronic finance systems. With this partnership there is a combined, extremely powerful team formed between the two organisations.” commented Dr. James Bradley, AquaQ Analytics – Chief Strategic Officer.
TESC will use the data to make choices with every unit of electricity available. The choices will include – using the electricity produced immediately, storing it for later using a smart device, trade it on the electricity market and earn value from it or use the electricity to provide services to the grid and earn value from it for the consumer.
“Data and decision-making is at the heart of PARIS, the partnership will deliver a platform that has forecasting and learning centrally and lead to a disruptive market offering.” added AquaQ Business Manager Steven Johnston.
Traditionally the electricity market limits how customers can use and earn value from renewable energy – TESC is changing that. They plan to put customers at the heart of the electricity market because customers demand needs to be serviced with cleaner, greener, renewable, predictable energy. The old model of waiting for your bill, worrying how big it will be and how you will afford it is gone – AquaQ and The Electric Storage company will change all of that with, EFaaS, Energy Flexibility as a service.
TESC Director Eddie McGoldrick, comments, “By developing proprietary software and the PARIS platform with AquaQ, we can bring together energy consumption and data in a smart way that allows us to predict and analyse when energy is needed and when it will be generated by our customers. We can help the aging electricity grid by avoiding peak times without denying customers the service they need and the grid pays for this service – we want to share this with our customers”.
The PARIS platform is at the centre of Project Girona. (www.gironaenergy.com). Project Girona is a UKRI funded project. The bid was supported by NIE Networks, Invest NI and Ulster University. The judges saw a project in Northern Ireland that has a vision to build community ecosystems that have the ability to store renewable energy that they produce and use it when and where it is needed all at a lower cost. The fact that it is digital from the ground up enables revolutionary ways to deliver that service, avoiding the legacy costs that old-school energy companies have to pass on to customers, raising bills and limiting service choices. “Our aim is to transform electricity services the way telephones moved from quarterly bills and landlines to mobiles and service plans, the way banking is moving from going into a branch to get your money to digital services where you really are in control of your money.”
Both companies are home grown in Northern Ireland, demonstrating again the power of collaboration, aligned values and the global ambition of the tech sector coupled with the emergence of a new sector in Greentech.
About AquaQ Analytics
AquaQ Analytics Limited is a provider of specialist data management, data analytics and data mining products and services to clients operating within the capital markets and other sectors. With over 200 employees operating globally, our domain knowledge, combined with advanced analytical techniques and expertise in best-of-breed technologies, including kdb+ and Shakti, helps our clients get the most out of their data. For more information, visit www.aquaq.co.uk or email us at [email protected]
About The Electric Storage Company
The Electric Storage Company was set up in 2017 to bring cheaper, cleaner electricity to any home or business that wants to “Join The Energy Revolution”. Combining the founders experience in delivering customer service to the electricity and financial services markets, they were able to see that by putting smart batteries into homes and communities, exploiting Big Data to lower costs and earn revenues in the evolving Single Electricity Market could enable everyone to prosper from the energy revolution. For more information, visit www.theelectricstoragecompany.com or www.gironaenergy.com
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