Energy Plug Technologies Corp. and EdgeTunePower Inc. Agree to Develop Canadian-Made Energy Management System
Energy Plug Technologies and EdgeTunePower have partnered to develop a Canadian-made Energy Management System (EMS). The collaboration combines Energy Plug's battery expertise with EdgeTunePower's decentralized grid systems technology. The system will manage energy distribution across residential, commercial, and utility applications, supporting capacities from 20 kWh residential systems to large-scale utility installations. The initiative aligns with the growing energy management market, valued at USD 31.76 billion in 2023 and projected to reach USD 112.32 billion by 2032. The EMS will feature real-time power management, hardware-in-the-loop testing, and intelligent resource allocation for AI data centers and hydrogen facilities.
Energy Plug Technologies e EdgeTunePower hanno stretto una partnership per sviluppare un Sistema di Gestione Energetica (EMS) prodotto in Canada. La collaborazione combina l'esperienza di Energy Plug nelle batterie con la tecnologia dei sistemi di rete decentralizzati di EdgeTunePower. Il sistema gestirà la distribuzione dell'energia in applicazioni residenziali, commerciali e per servizi, supportando capacità che vanno dai sistemi residenziali da 20 kWh fino alle installazioni per utilità su larga scala. L'iniziativa si allinea con il crescente mercato della gestione energetica, valutato 31,76 miliardi di dollari nel 2023 e previsto che raggiunga i 112,32 miliardi di dollari entro il 2032. L'EMS presenterà una gestione energetica in tempo reale, test hardware-in-the-loop e un'allocazione intelligente delle risorse per i data center AI e le strutture a idrogeno.
Energy Plug Technologies y EdgeTunePower se han asociado para desarrollar un Sistema de Gestión de Energía (EMS) fabricado en Canadá. La colaboración combina la experiencia en baterías de Energy Plug con la tecnología de sistemas de red descentralizados de EdgeTunePower. El sistema gestionará la distribución de energía en aplicaciones residenciales, comerciales y de servicios públicos, apoyando capacidades desde sistemas residenciales de 20 kWh hasta instalaciones de utilidad a gran escala. La iniciativa se alinea con el creciente mercado de gestión energética, valorado en 31,76 mil millones de dólares en 2023 y se proyecta que alcance los 112,32 mil millones de dólares para 2032. El EMS contará con gestión de energía en tiempo real, pruebas de hardware en bucle y asignación inteligente de recursos para centros de datos de IA e instalaciones de hidrógeno.
Energy Plug Technologies와 EdgeTunePower는 캐나다산 에너지 관리 시스템(EMS)을 개발하기 위해 파트너십을 체결했습니다. 이 협력은 Energy Plug의 배터리 전문성과 EdgeTunePower의 분산형 그리드 시스템 기술을 결합합니다. 이 시스템은 주거, 상업 및 유틸리티 응용 프로그램 전반에 걸쳐 에너지 분배를 관리하며, 20kWh 주거 시스템에서 대규모 유틸리티 설치까지 지원합니다. 이 이니셔티브는 2023년 317억 6천만 달러로 평가되는 에너지 관리 시장의 성장과 일치하며, 2032년까지 1천123억 2천만 달러에 이를 것으로 예상됩니다. EMS는 실시간 전력 관리, 하드웨어 인 더 루프 테스트 및 AI 데이터 센터와 수소 시설을 위한 지능형 자원 할당 기능을 갖출 것입니다.
Energy Plug Technologies et EdgeTunePower ont formé un partenariat pour développer un Système de Gestion de l'Énergie (EMS) fabriqué au Canada. La collaboration allie l'expertise en batteries d'Energy Plug à la technologie des systèmes de réseau décentralisés d'EdgeTunePower. Le système gérera la distribution de l'énergie dans des applications résidentielles, commerciales et utilitaires, soutenant des capacités allant des systèmes résidentiels de 20 kWh aux installations utilitaires à grande échelle. L'initiative s'inscrit dans le cadre du marché croissant de la gestion de l'énergie, évalué à 31,76 milliards de dollars américains en 2023 et devant atteindre 112,32 milliards de dollars américains d'ici 2032. L'EMS proposera une gestion de l'énergie en temps réel, des tests de matériel en boucle et une allocation intelligente des ressources pour les centres de données IA et les installations à hydrogène.
Energy Plug Technologies und EdgeTunePower haben sich zusammengeschlossen, um ein in Kanada hergestelltes Energiemanagementsystem (EMS) zu entwickeln. Die Zusammenarbeit kombiniert das Batteriewissen von Energy Plug mit der Technologie der dezentralen Netze von EdgeTunePower. Das System wird die Energieverteilung in Wohn-, Gewerbe- und Versorgungsanwendungen verwalten und Kapazitäten von 20 kWh für Wohnsysteme bis zu großflächigen Versorgungsinstallationen unterstützen. Die Initiative passt zum wachsenden Markt für Energiemanagement, der 2023 auf 31,76 Milliarden USD geschätzt und bis 2032 voraussichtlich 112,32 Milliarden USD erreichen wird. Das EMS wird eine Echtzeit-Leistungsverwaltung, Hardware-in-the-Loop-Tests und eine intelligente Ressourcenallokation für KI-Datenzentren und Wasserstoffanlagen bieten.
- Partnership targets high-growth market projected to reach USD 112.32 billion by 2032
- Development of new revenue streams through SaaS offerings
- System scalability from residential (20 kWh) to utility-scale applications
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company") is pleased to announce an agreement with EdgeTunePower Inc. (EdgeTunePower) for the joint development of a fully Canadian-made Energy Management System ("EMS"). This collaboration represents a strategic move for Energy Plug, positioning the Company within the rapidly expanding energy management market.
With the global energy management system market valued at USD 31.76 billion in 2023 and expected to grow to USD 112.32 billion by 2032 at a CAGR of
"We are proud to offer a Canadian-made solution that provides smart, resilient energy management," said Broderick Gunning, CEO of Energy Plug. "This agreement with EdgeTunePower enables us to extend our product range while enhancing SaaS revenue streams and long-term operational control over our battery deployments. By aligning with Malahat Nation and Malahat Battery Technologies, we are supporting sustainable, Indigenous-led energy initiatives."
Key Technical Highlights
- Scalable EMS Architecture: The new EMS solution aim to support energy flow management from small-scale residential systems (20 kWh capacity) to large-scale utility applications, ensuring robust energy optimization and real-time control.
- Hardware-in-the-Loop Testing: High-fidelity, real-time testing are expected to validate system performance under realistic grid conditions, enhancing stability and security.
- Intelligent Resource Allocation: Designed for seamless integration with AI-powered data centers, hydrogen production facilities, and distributed energy resources (DERs), the EMS can ensure optimized, cost-efficient energy use.
- Real-Time Power Management: Utilizing advanced algorithms, the system is expected to maintain energy stability even during peak demands and off-grid scenarios, ensuring continuity across all connected systems.
The new EMS solution is expected to provide unmatched energy control, helping clients meet sustainability goals while safeguarding against blackouts and optimizing operational costs. As Energy Plug continues to expand its energy infrastructure portfolio, the collaboration with EdgeTunePower stands as a testament to both companies' dedication to innovation, resilience, and Canadian energy leadership.
About Energy Plug Technologies Corp.
Energy Plug Technologies Corp. is an energy technology company, dedicated to innovation and sustainability. With a focus on residential, commercial, and utility energy storage applications, our goal is to advance battery technologies to enhance energy management and grid resiliency. Based in British Columbia, we seek to leverage strategic partnerships with Indigenous communities, and the development of a vertically integrated supply chain involving industry-leading companies in Taiwan to provide advanced solutions to our customers and partners. For more information about Energy Plug, visit our website at https://energyplug.com.
About EdgeTunePower Inc.
At EdgeTunePower Inc. (ETP), we are dedicated to advancing a sustainable energy future that harmoniously balances environmental responsibility with economic viability. Our vision is rooted in the development of smarter, more responsive grid systems that not only aim to cut down on carbon emissions but also facilitate the electrification of various industrial sectors. We are at the forefront of crafting decentralized, digitalized, and decarbonized electric grids, specifically tailored to the unique requirements of our customers.Transitioning to a sustainable energy future is undoubtedly complex and challenging, requiring substantial effort, resources, and collaborative engagement from all stakeholders. At ETP, we are committed to delivering innovative, reliable, and economically feasible solutions that support this critical transition. We believe that through collective efforts, we can forge a sustainable energy landscape that serves both present and future generations. For more information about EdgeTunePower visit their website at https://www.edgetunepower.com.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "will", "proposes", "expects", "seeks", "estimates", "intends", "anticipates" or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: cooperation with EdgeTunePower Inc., development and the anticipated results of energy management system and other products.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failures to obtain required regulatory approvals, inability to develop energy management system, disruption of supply of components and parts and lack of required financing.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
There can be no guarantee that the energy management system disclosed in this news release will be developed or, if developed, will be profitable. Investment in the securities of the Company is highly speculative.
Contact Information
Energy Plug Technologies Corp.
Broderick Gunning
President & CEO
brodie@energyplug.com
Investor Relations
Renmark Financial Communications Inc.
1900 - 130 King Street West, Toronto, ON M5X 1E3
John Boidman
jboidman@renmarkfinancial.com
Tel.: (416) 644-2020 or (212)-812-7680
www.renmarkfinancial.com
1 Source: https://www.fortunebusinessinsights.com/industry-reports/energy-management-system-market-101167
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228447
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