Stage: Revenue generating
Number of employees: 16-30
We manage the purchase, consumption and quality of energy for large energy consumers with data. Our artificial intelligence driven, real-time and cloud-based energy management service, kWantera Analytics™ (kWA), substantially lowers the purchase price and consumption cost while improving the quality of energy for the likes of Corning, Alcoa, Texas Instruments, Heidelberg Cement, Catalent, Bayer, Carnegie Mellon University and others in the US and abroad. A combination of ongoing market deregulation, recent increased energy consciousness and the dramatic increase in readily available (but largely unused) real-time energy data created an opportunity for substantially lower energy costs – if one has the means to access this new digital energy.
Achieving this ‘last mile’ of savings is a complex and real-time challenge and current energy software cannot make use of the torrent of disparate energy data in real-time. kWA is an outsourced energy management service specifically built to exploit this data in order to generate continuous streams of real-time purchase, demand management and power quality recommendations for energy managers, buyers and traders.
Several trends are driving sales of kWA’s energy management services amongst large commercial, industrial, institutional consumers and even the energy trading desks of financial services firms. First, large energy buyers want and expect lower energy prices as a result recent market deregulation in the majority of the U.S. and elsewhere.
Until recently, large energy buyers placed a high priority on stable ‘fixed’ prices for gas and electricity. However, many now recognize they’re paying a substantial premium for this price certainty, in some cases as much as 25 percent of the final price. As a result, our customers are seeking new ways to avoid this premium without increasing their risk profile. kWA Pricing Services does this by continuously analyzing real-time pricing, weather and other data to create optimal bid prices and highly customized energy contracts, resulting in electricity and gas price reductions of 5, 10 and even 15 percent. Even larger savings are possible when our customers combine kWA Pricing Services with kWA Demand Management Services.
Second, industrial, commercial and institutional organizations are attempting to manage energy consumption more intensively. Even the most energy conscious organizations can still find savings opportunities in the day-to-day management of their consumption, assuming they have the means to manage the extraordinary complexity of this task. However, very few organizations can afford the expensive energy management infrastructure and even those that do, such as some of our customers, still find the daily task of managing energy far too complex to justify the effort.
kWA Demand Management Services eliminates this complexity and labor intensity by continuously gathering and analyzing data drawn directly from the customer’s smart meters and energy infrastructure to generate real-time, straight-forward, actionable information all day, every day as needed to achieve the customer’s energy savings targets.
Third, industrial consumers, especially process firms such as glass, chemical, pharmaceutical and semiconductor manufacturers need higher power quality. The total estimated cost of poor power quality in the U.S. and EU is over $300B, primarily from shut downs and disruption of operations. kWA Power Quality Services identifies power quality issues in real-time and provides alerts and recommendations for energy management staff to remedy, often before they become a problem.