GridBeyond has launched Process Optimizer, a new product aimed at helping manufacturers save millions on energy costs while supporting the transition to net zero.
Unveiled on 17 September 2024, this data-driven tool offers manufacturers a way to better control and optimise their production processes by integrating asset-level insights with energy market fluctuations.
As the share of renewable energy grows, so does volatility in energy prices.
This unpredictability can significantly impact the operational costs of manufacturing companies.
GridBeyond’s Process Optimizer addresses this by scheduling production based on real-time energy prices and asset parameters.
“The launch of Process Optimizer shows once again our commitment towards continues innovation and wills to deliver on the market the best product for our customers,” Mark Davis, CCO at GridBeyond said.
“This product will empower businesses to better manage production schedules in the face of energy price volatility. By harnessing the power of data analytics, artificial intelligence (AI), and machine learning, companies can gain valuable insights into energy consumption patterns, identify cost-saving opportunities, and optimise production schedules in real-time.”
The platform’s advanced decision-making capabilities can reportedly save manufacturers up to $7.21 million annually.
In one case study, a cement manufacturing site using Process Optimizer reduced energy consumption at specific silos during high-cost periods, trading the excess energy in the market.
This not only lowered operational costs but also helped the site generate revenue through grid flexibility programs, all while lowering carbon emissions.
By creating a digital replica of a site, Process Optimizer allows manufacturers to identify cost-saving opportunities without sacrificing product quality or operational efficiency.
This solution is set to play a key role in helping manufacturers mitigate rising energy costs and contribute to a cleaner, more sustainable energy grid.
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