February 23, 2024

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Singapore Start Up Uses AI to Power Intelligent Energy Management Systems

Open Gov Asia recently had the opportunity to speak with the Co founder of RESYNC, a cloud-based energy management solution, Dr Jyantika Soni. RESYNC have been shortlisted for this years DBS Foundation Social Impact Prize at the Lee Kuan Yew Global Business Plan Competition (LKYGBPC) will be awarded to the most innovative business plans / start-ups / early-stage ventures that address pertinent urban challenges faced by cities of today.

“The grid and buildings are evolving faster than ever, with localised generation using solar on their rooftops, electric vehicles in their parking, dynamic pricing from the grid, and a ton of data that can be collected without knowing how it can be utilised. The more troublesome thing is one user is seldom the same as another.”

RESYNC looked at how the grid was changing in areas which lack infrastructure and other expanding urban areas such as Singapore. They looked at diversification and the huge reliance on unsustainable sources of energy and the changing dynamics in the grid required a modern solution and that’s when RESYNC was incepted.

“We saw that multiple mixes of energy in the ecosystem can be very disruptive to the grid and at RESYNC we’re trying to solve that using an AI driven energy cloud which will ensure reliability and resilience to whatever source you are connected to” said Dr Soni.

This is where RESYNC comes in and solves the problem with a simple goal in mind. They figure out how to run a customer’s energy system at the lowest cost possible while maintaining reliability and sustainability when or if applicable. Taking into account your energy assets, both generating like solar and battery and consuming like air-conditioning and electric vehicles, grid pricing, and your appetite to keep your energy supply carbon neutral.

“It is not just about controlling where your energy is coming from but how you are consuming it as well” added Dr Soni

Our machine learning algorithms figure out your evolving consumption patterns and run it through an optimization algorithm to run your electrical systems at optimal cost and energy-efficiency. Using our on-ground real-time control, we provide action on the insights generated by the machine learning algorithms. And all of this can be visualized and analysed from our platform.

RESYNC provides sustainable solutions through forecasting, load shifting and developing a long term energy saving plan.

It is extremely important to forecast and to understand the demand profile of the business. If the only way you get to know about your peak usage is through your electricity, then you are already too late to take corrective actions. It’s essential to be able to forecast, with reasonable accuracy, your maximum consumption.

Load Shifting – with an established platform of ongoing measurement and management, businesses can take energy savings to the next level. Most business have peak as well as off-peak hours. By spreading the electricity usage over longer durations, businesses can lower their maximum energy demand. And RESYNC’s Energy management system solution will help automate this process without compromising on the operating activities.

A comprehensive long-term energy saving plan enables much better capital investment decisions. Armed with detailed data and realistic energy consumption estimates, managers can rationally weigh the benefits of energy-efficient new equipment versus their purchase costs and other related expenses  such as decommissioning and disposal cost, production downtime, etc.

Business continuity through the pandemic and future plans

The business has been successful even during the pandemic, “the plug and play aspect really plays to our advantage especially during these times when movements are really restricted but the technology is not.” They are able to ship the product and bring customers on remotely

RESYNC are involved in many projects across Asia such as India Singapore and Indonesia. They operate in the B2B area selling technology to reliable energy developers, for example, Sembcorp in Singapore. Many of the companies they are working with already work with government to improve real time energy efficiency. So far they have been making strides towards many strategic partnerships with utility providers in the region.

In the future they hope to expand to Europe and further in Middle East. They are currently in discussions in the Middle East, regarding energy monitoring for smart buildings. In Europe they have been a finalist for Seedstars and they have deservedly been  a recipient of many awards internationally. And now shortlisted for this years DBS Foundation Social Impact Prize.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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