Fieldbit named Winning Startup by ENGIE
ENGIE Innovation Week, which ran from the 12th to the 17th of June this year, has recognised the amazing R&D efforts of Fieldbit, naming it Winning Startup.
ENGIE, Europe’s leading energy business, has run its Innovation Week for three years now in a five day event that highlights revolutions in the energy sector.
Founded in 2014, Fieldbit has swiftly become a leading developer of real-time augmented reality collaboration solutions. Remote experts are able to superimpose precise instructions on a physical machine, meaning technicians can be guided step-by-step through their instructions. Particularly pertinent to the energy and utilities industry, Fieldbit Hero helps preserve the practical field services knowledge of aging workforces by organically capturing the knowledge created during the service process. This information is then stored in a knowledge base for search, sharing, and reuse across the organisation.
Evyatar Meiren, CEO of Fieldbit, said of the win: "It is an honor to be selected as a winning startup by ENGIE, one of the world's largest energy providers. Fieldbit Hero harnesses innovative technologies to solve pressing problems facing today's utility companies, such as boosting field service productivity and replacing their aging workforces. We look forward to strengthening our cooperation with ENGIE as their field engineers proceed with the evaluation of our augmented reality platform."
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.