Platform Enables $160B Upgrade of North American Grid Infrastructure to Support Electric Vehicle, Grid Electrification and Data Centers Growth
OTTAWA, ON / ACCESSWIRE / September 25, 2024 / BluWave-ai announced today that it has expanded its patent portfolio to 30 applications filed in the U.S. Patent Office and internationally of which seven have been granted and one application recently allowed in September 2024. The company has built this technology platform over the last seven years of strategic research and development to address the key areas to enable the global energy transition and wide-scale electrification of the transport, industrial, residential and energy sectors in general.
BluWave-ai 2024 Patent Updates
The company portfolio strategically covers the enabling technology and underpins its products for: electric vehicles and other smart loads; utilities; energy consumers including residential applications, industrial, institutional and fleet operations; electricity system operators and generation.
In recent years the demand on North American grids has been fairly level with conservation measures coming into effect while demand from electrification started to grow. Over the next 10 years, this picture is expected to change quickly as the demands of electrification in the transport and energy sector take off driven by government incentives to tackle emissions and climate change risks. The US Energy Department estimates that total investments for grid modernization in that country alone require from $350 to $500 billion (Transforming the Nation’s Electricity System: The Second Installment of the QER). A report by the Brattle Group estimates that for the next 10 years, the additional investment to support a high electrification scenario will amount to $160 billion.
"To achieve this goal, BluWave-ai over its 7-year history has embarked on an ambitious path of inventions to manage the demand and variable renewable generation sources replacing fossil-fuel generation is an intelligent software overlay on the grid, to balance generation with demand and offset expensive capital investments," said Devashish Paul, CEO of BluWave-ai, "BluWave-ai estimates the market for these intelligent software solutions to be $14B – $20B or 4% of expected grid CAPEX upgrades in lifetime software deployments for the grid electrification in North America. Our patent portfolio and products enable this software grid transition overlay."
BluWave-ai has deployed the patents and inventions with its Edge & Center Energy Optimization platform, including Atlas which has built a database of operational data over the years along with a set of trained AI models.
"BluWave-ai’s advanced technologies are empowering the global evolution of traditional electrical grids toward more sustainable, efficient, and resilient software-defined smart grids in the face of growing energy demands and climate changes," said Thomas Triplet, Senior Director of Engineering at Bluwave-ai, "offering cost-effective and scalable solutions for enhancing grid performance and reliability and contributing to global sustainability goals."
BluWave-ai’s growing IP portfolio now consists of 30 U.S. patent applications filed with seven granted, including the following:
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Two patents (11,133,676 and 11,831,163) relating to systems and AI-based methods for the optimization of fluctuating Renewable Energy-Battery systems while maximizing battery life
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Three patents (10,510,128, 11,170,456 and 11,830,090) to enhance and optimize energy grid systems. The patents describe in particular the predictive optimization of energy grid systems using AI models and signatures. The improved efficiency leads to reduced energy losses and more effective utilization of grid resources and is widely applicable to various energy systems, including wind farms, solar farms, and energy storage systems.
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One patent (11,267,362) relating to systems and methods for adaptive optimization for electric vehicle fleet charging. They cover in particular AI models to predict resource availability/demand, and electric vehicle fleet charging based on fluctuating renewable energy generation and electricity pricing.
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One patent (12,040,650) relating to AI-based methods for the optimal and dynamic charging of energy storage assets connected to a power grid
"As Canada’s Law Firm, we are excited to work with BluWave-ai. Their cutting-edge work in AI-powered solutions for energy optimization aligns perfectly with our commitment to the environment and innovation," said Rob Morris, Chief Operating Officer of BLG. "We wish BluWave-ai every success as they take their product to market."
Mike McLean, CEO of the Innovation Asset Collective said, "To become global technology champions, Canadian companies need to understand the use of IP as a strategic business tool and build strong IP ownership positions to support their growth. You cannot commercialize what you don’t own. Only companies with sufficient freedom to operate can be assured of capturing the high returns that deliver prosperity to Canada’s economy. It is exciting to see companies like BluWave-ai building the ownership of IP that will allow them to capture the financial benefits of their innovation."
BluWave-ai is open to discussing strategic opportunities for licensing and cross-licensing its IP portfolio to select customers, partners, research labs and universities. As an added benefit, BluWave-ai’s customers under contract to use its products automatically get access to use the IP portfolio embedded in its product during the duration of all contracts. Please contact info@bluwave-ai.com to learn more.
About BluWave-ai
Founded in 2017, BluWave-ai is building the world’s premier transport electrification and renewable energy AI company headquartered here in Canada’s capital of Ottawa. We are focused on driving the proliferation of renewable energy and electric transportation worldwide with SaaS-based AI solutions. Our products optimize in real-time different energy sources, both renewable and non-renewable. This lets our customers – fleet operators, corporations, and utilities – improve their energy decisions for sustainability and costs. BluWave-ai has raised over $16M to date inclusive of a Series A round led by Ontario Power Generation’s Fleet Electrification subsidiary PowerON Energy Solutions and non-dilutive funding in its seed round from Sustainable Development Technologies Canada.
For More Information Please Contact:
Brandon Paul, Senior Corporate Marketing Manager, BluWave-ai
brandon.paul@bluwave.ai.com
www.bluwave-ai.com
Contact Information
Brandon Paul
Senior Corporate Marketing Manager
brandon.paul@bluwave-ai.com
SOURCE: BluWave-ai
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COMTEX_458157974/2457/2024-09-25T11:44:34