Innowatts announces strategic partnership with ABeam Consulting
Innowatts today announced a strategic regional partnership with Abeam Consulting, one of Japan’s largest consulting and management advisory firms, focusing on bringing new analytics and AI-enabled technology to Japan’s recently deregulated energy market.
The partnership with ABeam will enable Innowatts to localize and deploy its platform learning from US retail markets to Japan’s rapidly evolving energy market, enabling the various stakeholders across the energy value chain with its smart-meter-enabled predictive energy intelligence eUtility platform.
To date, Innowatts has provided nearly 20 million retail energy consumers with predictive energy analytics and AI-enabled solutions that help optimize energy cost and empower users with personalized energy products and services.
The initial focus of the partnership will be on new retail energy providers and other emerging market participants that can immediately benefit from Innowatts’ behind-the-meter customer intelligence and predictive capabilities, enabling them to better optimize and differentiate their price and service offerings.
Takahiro Yamada, Principal, Head of Financial and Social Infrastructure Business Unit of Abeam said: “As market reforms take hold and competitive pressures increase, it’s important that we provide our clients the most effective tools and solutions to help them compete effectively. Adding the Innowatts technology to our solution suite adds a wide range of new tools and capabilities that leverages the experience of some of the world’s largest and most competitive retail energy markets.”
Sid Sachdeva, CEO of Innowatts said: “As one of the largest and most respected consulting firms and system integrators in Japan, ABeam brings a deep body of energy industry expertise and regional knowledge that will help us localize and scale our eUtility™ Platform to Japan and other Asia Pacific energy markets.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.