GridMarket was established in 2014 and its distributed energy project platform uses analytics and machine learning to identify new opportunities and recommend best-fit renewable and distributed solutions such as battery storage, solar photovoltaics, fuel cells and combined heat and power.
The approach take by GridMarket is claimed to leverage billions of data points to automate and streamline traditional alternative energy feasibility and development processes.
By partnering with GridMarket, Marubeni aims to identify efficient and cost-effective project opportunities and will also source new technologies to enable the Japanese company in providing appropriate distributed energy resources solutions to its network.
Marubeni aims to apply GridMarket’s technology services across North America and Japan and across other islands that benefit from implementing the DER system. By identifying potential DER projects and offering best-fit DER solutions, Marubeni intends to proactively expand the business.
The firm, in a statement, said: “In doing so, Marubeni will provide such positive value as reduced electricity bills for consumers and BCP countermeasures, as well as the promotion of ESG investments, thus striving to achieve a society with low environmental impact, and high energy efficiency.”
Last month, Marubeni along with Kansai Electric Power, Chubu Electric Power and the Manila Electric in the Philippines, agreed to jointly participate in smart grid business at New Clark City in the Philippines.
Bases Conversion Development Authority (BCDA) in the Philippines is developing a environmentally-friendly smart city, 120km northwest of Metro Manila. The project will include design, construction, operation and maintenance of smart grid facilities.
In the joint venture, Marubeni will have 18% stake, Kansai will have 9%, Chubu Electric 9%, Manila Electric 54% and BCDA will have 10% stake.
In February, Marubeni partnered with LO3 Energy to begin a pilot project in Japan. LO3 Energy is an energy-tech company that claims to revolutionize the future of energy through disruptive technologies.
LO3 will administer an energy marketplace using blockchain to connect several of Marubeni’s power generation facilities including renewables, with offices and factories into a virtual marketplace to test ‘simulated’ energy transactions.
