Bamboo Energy, supported by EIT InnoEnergy, creates software that allows consumers to participate in the new energy system

This technological spin-off of the IREC (Institute for Energy Research of Catalonia) created in Barcelona in 2020 and supported by EIT InnoEnergy has developed an energy optimization platform based on artificial intelligence. The Bamboo Energy platform will coordinate electricity distributors and consumers to define their new roles in an environment where energy flows are no longer unidirectional (from the power station to the consumer), to become bi-directional.

The innovation

The tech startup Bamboo Energy from Barcelona has launched a software platform aimed at new agents in the energy market, demand aggregators - companies that manage in an aggregated and coordinated way the consumption of various users for its participation in different electricity markets-, which will be key figures in favoring the implementation of renewable energy distributed throughout Europe.

The consumer as producer

This unique technological solution to manage aggregation arises after seven years of research at IREC and enables companies to operate optimally in new energy markets, generating income while being flexible in consumption and more efficient. Thus, it will coordinate distributors and consumers to define their new roles in an environment where electricity flows cease to be unidirectional (from the generation plant to the consumer), to become bidirectional (the consumer can be at the same time a producer -prosumer- and choose the moment to sell and buy energy).

The role on energy transition

According to Cristina Corchero, the creator of the platform, founder of Bamboo Energy and director of the IREC Energy Systems Analysis research group, "achieving a 100% renewable energy system is not possible without the flexibility of demand. In this sense, Bamboo Energy is an enabling agent for the transformation of the energy sector".

Thanks to its algorithms, the platform allows functionalities such as forecasting the demand for electricity consumption, predicting customer flexibility, the possibility of making optimal joint offers in real time, the management of all flexible assets (such as electrical equipment, air conditioning, electric vehicles, batteries or cold machines) in response to the request of the network operator, or the issuance of alerts in case the power rises excessively. Through a control center, it connects to the electricity market to offer these services.

Support from renowned partners

After participating in the beginning in the Collider acceleration program as one of the most promising Spanish technology spin-offs, Bamboo Energy became an institutional partner EIT Innoenergy - a European organization that promotes the most cutting-edge innovations in the energy sector - and has been adhered to its Highway program, which has accelerated its growth throughout Europe. Additionally, the company has received a direct aid of 75,000 euros from the Startup Capital line of ACCIÓ (the agency for business competitiveness of the Department of Labor of the Generalitat de Catalunya), intended for tech startups in their initial phase. This endowment will help finance the investment in technological products and talent of a value of 250,000 euros that the company will carry out this year.

Read more, here: https://bambooenergy.tech/bamboo-energy-launches-cutting-edge-software/