- The company was awarded a grant of Euro 150,000 under the Interconnect programme, with the ECSITE project
- It will be possible to enhance the degree of direct integration of the LIBRA CE proprietary platform with smart meters and appliances, minimising customisation costs of installations
- Increased know-how is also expected on energy efficiency, renewable energy community management, demand-response services and flexibility, P2P (peer-to-peer) / P2G (peer-to-grid) energy exchange
algoWatt S.p.A., a GreenTech Solutions Company listed on the Euronext Milan market of Borsa Italiana, announces that it has been awarded a Euro 150,000 grant for mentoring and support to the ECSITE – Energy Communities’ Semantic Interoperability Throughout Europe project (https://interconnectproject.eu/news/meet-interconnect-prototypes-open-call-winners/).
The aim of the ECSITE project is to make the LIBRA CE digital platform – algoWatt’s proprietary solution for the integrated management of Renewable Energy Communities and Self-Consumption Groups (https://algowatt.com/comunita-energetiche/) – compatible with the InterConnect project’s Interoperability Framework and, therefore, compliant with the Smart Applications REFerence ontology (SAREF), extending its applicability, interoperability and functional scalability.
algoWatt is among the 10 European SMEs selected for funding and a 9-month support programme, which will start in December 2022. The selection process involved the consideration of 66 applications from 20 EU and associated countries.
The outcome of the ECSITE project will consist of a semantically interoperable digital platform tailor-made for Energy Communities (RECs). An innovative aggregation tool for RECs members to whom essential services will be offered (monitoring of energy consumption and production at community level, calculation of shared energy). The focus on interoperability will enable LIBRA CE to interact with services, devices and digital platforms that already use the InterConnect and SAREF Interoperability Framework, enhancing the degree of direct integration with smart meters and appliances and minimising installation customisation and vendor lock-in costs.
It is also expected that the technical know-how gained in the ECSITE project will enable algoWatt to improve and develop in the short term some of the most relevant business models in the digital energy market today, including: energy efficiency; renewable energy community management; demand-response and flexibility services; P2P (peer-to-peer) / P2G (peer-to-grid) energy exchange.
The InterConnect project received funding from the European Union’s Horizon 2020 research and innovation programme under Grant Agreement No. 857237.
This press release is also available on the Company’s website www.algowatt.com and on the regulated information dissemination system 1INFO www.1info.it.
algoWatt (ALW), a GreenTech solutions company, designs, develops and integrates solutions for managing energy and natural resources in a sustainable and socially responsible manner. The company provides management and control systems that integrate devices, networks, software and services with a clear sectoral focus: digital energy and utilities, smart cities & enterprises and green mobility. algoWatt was born from the merger of TerniEnergia, a leading company in the renewable energy and environmental industry, and Softeco, an ICT solutions provider with over 40 years of experience for customers operating in the energy, industry and transport sectors. The company, with more than 200 employees in 7 locations in Italy and investments in research and innovation amounting to more than 12% of its turnover, operates with an efficient corporate organisation, focused on its reference markets: Green Energy Utility: renewable energies, digital energy, smart grids; Green Enterprise&City: IoT, data analysis, energy efficiency, building and process automation; Green Mobility: electric, sharing and on demand. Different markets, one focus: sustainability. algoWatt is listed on the Euronext Milan market of Borsa Italiana S.p.A..