PORTLAND, Maine, Aug. 8, 2019 /PRNewswire/ -- Introspective Systems, LLC announced today that it has finalized its contract with the Binational Research and Development Foundation (BIRD US-Israel Foundation) to begin a commercialization project with its Israel-based partner, Brightmerge. The companies will leverage their areas of expertise to create an end to end AI-based data solution for Microgrid design, development, and operations.
"The process of developing microgrids can be costly. It begins with a feasibility study reaching hundreds of thousands of dollars, even before any design, procurement, and installation," said CEO Kay Aikin. "Moreover, those feasibility studies are filled with disclaimers and closing the gaps of uncertainty is crucial. Microgrid designs are unique and therefore it is difficult to scale-up the process of those studies without the use of technology."
Daniel Schwab, Founder and CEO of Brightmerge, stated "After spending almost 20 years in the renewable energy industry, it has been clear to me that microgrids are the architecture of the future energy system."
"Brightmerge and Introspective Systems have the industry knowledge and technological know-how to provide seamless solutions that bring entire economies into the digital age of energy," Schwab said.
Elkana Pressler, Co-Founder, and VP of Business Development for Brightmerge, said, "The electricity grid served humanity for over 100 years distributing energy during the fossil fuel era; this era is decaying fast. Transferring energy hundreds of miles from production to consumers is no longer the most financially efficient solution. The current electric transmission system is super expensive to build, operate, maintain and lately, to protect. Microgrids utilize the capability to create the energy wherever it is consumed. It might be a community, a campus, commercial center or even residential facilities."
Keith Lehman, Co-founder and CTO of Brightmerge, believes that's where both companies come in.
"This is exactly where Brightmerge enters the picture. We realize that with the right set of data, machine learning process and AI we can automate most of the feasibility stage and can significantly reduce costs during design," Lehman said.
Brightmerge currently has several premium, paid pilots with large clients that understand the potential of the microgrid revolution. These clients wish to move now instead of waiting and keep losing money.
The project is expected to reach alpha stage of development by Q2 2020 with first production versions ready at the beginning of 2021.
About Introspective Systems, LLC
Introspective Systems is the developer of xGraph, a breakthrough software platform that enables developers to build systems designed for complex software ecosystems, xGraph combines edge computing with distributed analytics to speed processing time. xGraph is AI-enabled for systems that require autonomous and collaborative decision-making to meet the challenges of complexity in environments including healthcare, IoT, energy, and science.
Brightmerge develops an online cloud-based expert system that accurately predicts a microgrid system's energy and financial performance. The platform integrates data sets in one platform and automates decision making using ranking and optimization algorithms to choose the best components, suppliers, and contractors for each project. The company opened a fund round to complete the product and drive first sales.
SOURCE Introspective Systems and Brightmerge; Brightmerge