Climate Change Accelerating Demand for AI Capabilities: ABB & Verdigris Announce Partnership to Manage Energy Through New Mac...
November 06 2019 - 9:30AM
Business Wire
Grid services and reliable energy operations of commercial and
industrial buildings, which rank among the top carbon emitters, can
be managed by up to 10-20% through Energy Forecasting and
Intelligent Alerts applications
Verdigris Technologies, developers of award-winning Artificial
Intelligence (AI) solutions, has partnered with Global
Electrification leader, ABB, bringing Verdigris’s machine-learning
applications to ABB’s global line of connected low-voltage
switching fabric products to predict unplanned surges in power
consumption for commercial and industrial buildings. The Fortune
500 electrical equipment, power, robotics and automation company is
launching a new digital energy app-store and Verdigris’s AI
technology is their first app.
The joint release of new Energy Forecasting and Intelligent
Alerts now available on the ABB Ability™ Digital Marketplace was
announced today.
Mark Chung, Verdigris CEO said: “We chose to partner with ABB
because they are the leading supplier of electrification products
to our core customer segments. This collaboration represents an
avenue to accelerate our objectives of meeting growing customer
demand for energy resilience and delivering a global-scale
coordinated response to the threat of climate change through
responsive energy intelligence.”
Through both internal and field studies with ABB, Verdigris
demonstrated near-range energy forecasts with greater than 90%
accuracy, useful in demand management applications, and
outperformed common open-source forecasting alternatives.
Andrea Temporiti, Digital Leader for ABB’s Electrification
business, said: “Our use of AI to help customers make better energy
management decisions demonstrates ABB’s commitment to innovation in
our products and quality in our services. With the new Energy
Forecasting and Smart Alerts apps, AI drills down into the
facility’s power data to pinpoint actionable opportunities for
productivity improvements and energy cost savings.”
According to the U.S. Department of Energy (DOE) Office of
Energy Efficiency and Renewable Energy, connected sensor networks
and advanced monitoring and analytics combined with adaptive and
autonomous controls have a technical potential to save a wasted
3.31 quads of energy or $43B annually. Using EPA’s US average
electricity source emissions data published in 2018, these figures
represent an opportunity to curb 270 million metric tons of GHG
annually by 2030 in just US Commercial Building stock alone.
Jonathan Chu, Verdigris CTO said: “DOE Studies show with
accurate sensing and predictive analytics we can reduce building
energy consumption by up to 30%. With AI we have the building
blocks to go further in developing adaptive and autonomous
buildings, and eventually optimize networked fleets of generators,
energy storage systems, EV infrastructure and smart buildings.”
Further collaboration between ABB and Verdigris to advance AI
capability on electrical infrastructure are planned.
ABB (NYSE: ABB) is a technology leader that is driving
the digital transformation of industries. With a history of
innovation spanning more than 130 years, ABB has four
customer-focused, globally leading businesses: Electrification,
Industrial Automation, Motion, and Robotics & Discrete
Automation, supported by the ABB Ability™ digital platform. ABB’s
Power Grids business will be divested to Hitachi in 2020. ABB
operates in more than 100 countries with about 147,000 employees.
www.abb.com
Verdigris Technologies is a leading AI company based in
historic NASA research park in Silicon Valley, California with
offices in the US and Taiwan. Verdigris is a privately held
Stanford-StartX alumni company backed by prominent investors
including Verizon Ventures and The Data Collective, and have
developed several award-winning products for commercial and
industrial energy management. www.verdigris.co
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Media Relations Email: press@verdigris.co
Investor Relations Diana Wu Email:
InvestorRelations@verdigris.co
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