Borqs Technologies teams with SkyCentrics for the delivery of Utility Scale Automated Smart Controls to the U.S. Power Infrastructure
Borqs Technologies, Inc. (Nasdaq: BRQS) announced a partnership with SkyCentrics to manufacture CTA-2045 technology-based products aimed at optimizing power grid efficiency through smart appliances. The initiative targets utility companies and focuses on smart water heaters that can improve energy efficiency by up to 300%. The partnership anticipates the gradual replacement of over 1 million residential water heaters starting in 2021, contributing to a projected $110 billion market by 2025. This technology aims to significantly reduce carbon emissions in the U.S. energy sector.
- Partnership with SkyCentrics for manufacturing CTA-2045 devices.
- Smart water heaters can increase energy efficiency by up to 300%.
- Projected market for grid optimization could reach $110 billion by 2025.
- Dependence on utility companies for adoption and deployment.
- Potential supply chain issues due to the coronavirus pandemic.
SANTA CLARA, Calif., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, today announced that it plans to join with SkyCentrics, a Northern California company that is the leader in open standard power grid optimization in the U.S., for the manufacturing and delivery of CTA-2045 technology based products. Mobile connected CTA-2045 devices are chosen by utility companies across the U.S. as the open standard platform for controlling smart appliances, beginning with a focus on water heaters, but including pool pumps, HVAC mini-split equipment, electric vehicle chargers, and large commercial electrical equipment.
Historically, all water heaters have been ‘dumb’ with no ability to schedule, thus turning on and off randomly 24 hours a day to regulate the water temperature. Smart water heaters with an open standard CTA-2045 communications port and cellular CTA-2045 modules can optimize the schedule of heating water based on each household’s usage pattern as well as reducing when it is on and the grid is under peak load or using high levels of fossil fuels. CTA-2045 controlled heat pump water heaters are up to
https://www.bpa.gov/EE/Technology/demand-response/Pages/CTA2045-DataShare.aspx
SkyCentrics has focused on the research and development of smart CTA-2045 modules and works closely with utility companies, departments of commerce, and energy commissions across many states in the U.S. Washington state catalyzed the market when it passed SB 5115 that mandated a CTA-2045 port in all new water heaters sold after January 1, 2021. Oregon will join in 2022, and California, Colorado, New York and others are weighing when to join.
Tristan de Frondeville, Chairman and CEO of SkyCentrics, “For over 10 years, utilities and the Consumer Technology Association have been developing an open standard ‘USB style’ port for appliances and electrical equipment to be able to have a guaranteed way to optimize the equipment, including pilots with over 20 major utilities. This CTA-2045 port will soon be ubiquitous in major manufacturers’ electrical equipment with the three western states of WA, OR, and CA representing over 15 million water heaters alone. Every year, 9 million water heaters are sold, and the sooner they can become smart and connected, the sooner our grid will be able to integrate more renewables and decrease more carbon emissions.”
Pat Chan, Chairman and CEO of Borqs, “Our experience in software and hardware custom design and productization in the IoT industry will contribute immensely to the speediness in bringing products in scalable volume for the coming deployment of these CTA-2045 devices in the U.S. The adaptation of web-connected smart controllers for water heaters simply makes sense, and the selection of Borqs Technologies by SkyCentrics as the products partner is a smart choice.”
About SkyCentrics, Inc.
SkyCentrics is the leader in CTA-2045 connectivity to appliances and large electrical equipment providing building and grid optimization. The company provides grid optimization and Demand Response (DR) services to utilities throughout the United States, as well as enabling other Demand Response providers and aggregators to connect to CTA-2045 enabled equipment through its OpenADR 2.0b cloud, REST API, and Volttron open source building management system.
It also assists major OEMs in enabling their products to include a CTA-2045 port, increasing the appliances and equipment that can be orchestrated to save energy, provide run time analytics and optimize the grid. Building and home owners get web, mobile and voice controlled apps to monitor and schedule their electric loads, while utilities and aggregators are enabled to orchestrate millions of loads to support the grid’s integration of renewables and mitigation of carbon emissions.
About Borqs Technologies, Inc.
Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio.
Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in development of 5G products for phones and hotspots.
Forward-Looking Statements and Additional Information
This press release includes “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management’s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the Company will not consummate the partnership as described or may not receive actual orders in any amounts forecasted, and the negative impact of the coronavirus on the Company’s supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company’s filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact:
Sandra Dou
Director of Finance
Borqs Technologies, Inc.
sandra.dou@borqs.net
www.borqs.com
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