To save on utility bills using smart batteries, BeeBryte is now up-and-running and is considered as one of the fastest growing start-ups in the cleantech sector at the nexus of energy management and the Internet of Things (IoT).
At the Challenge Up final in Poland last week, BeeBryte was noticed by Intel, CISCO and Deutsche Telekom which were looking to back up to 12 promising start-ups in IoT from all around the world.
A new journey begins for this home-grown company, now with support from three tech giants. BeeBryte will continue to develop and roll out its unique cloud-based energy intelligence software-as-a-service, which is expected to reduce utility bills for businesses and homeowners by up to 40 per cent.
The man at the helm of BeeBryte is Frederic Crampé, a former rocket scientist at NASA, turned serial entrepreneur and investor who fell in love with Singapore 11 years ago when he arrived here to do his MBA at INSEAD.
He founded BeeBryte with a former classmate from engineering school Patrick Leguillette. With four experienced board advisors, the company now counts on 10 exceptional minds, including those with Master and PhD degrees in computer science, electronics, statistics and predictive analytics.
Patrick Leguillette, BeeBryte’s co-founder and Chief Technology Officer, explains how BeeBryte works:
“With patent-pending advanced algorithms, we pilot the charge-discharge of batteries installed in buildings, as well as the power modulation of select electric equipment, in order to capture electricity price arbitrage opportunities. This reduces the utility demand charge, sells back services to the grid and minimises the net cost of electricity service. Among other things, we have the only system which can execute high frequency energy trading in markets with real-time pricing structures.”
Besides Singapore, where it is headquartered, BeeBryte has an office in Lyon, France and is planning to open a subsidiary in Silicon Valley by next year. The company has gained attention abroad and recently received a finalist award at the smart energy innovation contest EDF PULSE 2016 led by major power company Electricité de France.
Energy storage enabling technologies are experiencing an impressive 60 per cent annual growth rate and BeeBryte’s total addressable market is estimated at US$24 billion per year.
With the convergence of IoT, energy market deregulation, increasing electricity price volatility, and falling battery costs, BeeBryte founders “timed it perfectly and we’re proud to have been an early supporter” said Yanis Boudjouher, CEO of ReEx Capital Asia, the Singapore-based clean energy investment banking boutique which incubated the R&D project until the start-up was spun-off at the end of 2015.
BeeBryte also has the privilege to be one of the selected members of A*StartCentral, a technology garage managed by Exploit Technologies Pte Ltd (ETPL), the commercialisation arm of Singapore Agency for Science, Technology and Research (A*STAR).
Located in JTC Launchpad amidst a vibrant R&D community and start-up ecosystem, A*StartCentral offers an open innovation community for inspiration, productisation and new business ventures.
Sidney Yee, Executive Vice President at ETPL, added that “BeeBryte has a very solid team, unique value proposition and well-thought business model. A*StartCentral is pleased to welcome them into our community and is delighted that they have chosen Singapore as their launchpad into Asia.”
To date, BeeBryte has been successful in attracting public funding and R&D incentives in Europe, so decided to locate most of its staff to Lyon. However, as Singapore represents the perfect energy market conditions, the start-up is keen to work with major real estate companies like JTC - Jurong Town Corporation - to help businesses save money on their electric bills.
“Our revenue model is purely based on a share of the savings generated by BeeBryte. With the Intel software research team, we will be collaborating on an open-source cryptographically secure blockchain to manage smart contracts and energy transactions in order to avoid any potential disputes with the end-user and with a third-party financing the batteries under a leasing scheme” said Alois Salmon, recently hired as BeeBryte’s Head of R&D.
The founder and backers of BeeBryte believe they are definitely onto something big in the “Internet of Energy” field and although they are targeting factories and commercial buildings first, homeowners can also look forward to reducing their electricity bills in the near future, too.
Frederic Crampe is committed to energy conservation as well as energy cost saving, which BeeBryte is designed to achieve, so in the meantime, he advises everyone to “to start our energy saving lifestyle changes with simple switches to efficient LED light bulbs, among other ways, to cut energy wastage.”
BeeBryte makes buildings and homes smarter!
We provide a Cloud-based Energy Intelligence Software-as-a-Service (SaaS) which minimises the electricity bill of our customers (up to 40 per cent savings).
BeeBryte transforms (i) energy storage systems (e.g. lithium-ion; redox flow batteries); and (ii) select electric equipment (e.g. water heaters, HVAC, sensors) installed in factories / commercial buildings and homes; into intelligent internet-connected devices.
Our solution combines proprietary trading & patent-pending optimisation algorithms, cloud computing and predictive analytics in order to offer a plug & play dynamic energy intelligence service, fully integrated to the Internet of Things (IoT) without requiring any particular expertise from our customers.
From the cloud, BeeBryte pilots the batteries (charge / discharge power) as well as the connected equipment (on / off or power modulation) in order to continuously optimise the net cost of electricity service in the building.
BeeBryte does not sell a software. We are positioned as a service provider through a proprietary SaaS solution.
Our revenue model is purely based on a share of the savings generated by our solution. Those cost savings are split between BeeBryte, the building and any third-party involved in financing the batteries under a leasing scheme (similar to commercial rooftop solar PV).
BeeBryte helps customers manage their energy costs as well as secure their power supply and contributes to the power grid reliability & resilience on a wider scale.
If you want to participate in the energy revolution, please watch our short corporate video at: https://vimeo.com/145392887
Issued on behalf of BeeBryte Pte Ltd by Sustain Ability Showcase Asia (SASA)
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