GridBeyond, the global leader in intelligent energy technology for commercial and industrial (C&I) businesses and Distributed Energy Resources Management (DERM) platform provider has joined the American Foundry Society (AFS) as a corporate member.
GridBeyond harnesses the power of AI technology to connect large energy consumers and their assets; including on-site demand, energy storage, generation and EV charging, to the award-winning Point platform. The platform enables participation in energy services such as demand response, energy trading and peak cost avoidance, and provides access to a range of monitoring tools that strengthen business resilience and operational integrity.
GridBeyond’s intelligent energy technology helps businesses to protect their bottom line and ease the financial impact of COVID-19 by enabling access to long-term revenue streams and enhanced savings.
Wayne Muncaster, Vice-President for North America, commented:
“We are pleased to join the American Foundry Society, the network of the world’s leading metal producers, and we are looking forward to supporting members with our expertise in the energy markets.
“Assets commonly used by foundries such as arc furnaces, induction furnaces and fans have, on average, up to 60% energy flexibility. Many sites also use on-site generation and battery storage. Any combination of these positions sites perfectly to participate in energy services and benefit from access to new revenue streams, cheaper power, increased resilience and enhanced energy performance.”
PricewaterhouseCoopers recently advised metal casting businesses to prepare for prolonged recovery from the impact of COVID-19 pandemic, as it is likely that some suppliers and potential major end-users will be facing months of operational and financial difficulties. To mitigate the impact of supply chain disruptions, and uncertainty of demand, experts urge metal producers to assess the ways they can support ongoing operations in a low-revenue environment as early as possible.
“GridBeyond works with dozens of metal businesses across multiple markets. We have been there through good years and challenging times, and we understand that for many foundries, it is critical to develop post-COVID-19 recovery plans and look for ways to protect their bottom line and operational continuity. The opportunities presented by the energy markets to lower power costs and provide additional revenues should not be overlooked.
“New technologies, like GridBeyond’s platform, support intelligent energy management, deliver financial and operational benefits and can enhance sustainability without any capital investment, or impact on production processes”, added Wayne Muncaster.
Ben Yates, Vice President at the American Foundry Society, commented:
“We are excited to welcome GridBeyond to the North American market and also as a Corporate Member of the American Foundry Society. Foundries are often looking for innovative and efficient was to improve their operations and I’m sure many will be interested in learning about the GridBeyond platform for energy management and sustainability.”
For over a decade, GridBeyond has supported the world’s leading metal foundries by enabling their participation in energy markets. Last year, GridBeyond and its partner Eurac Poole, part of the MAT Foundry Group, the global leader in casting and machining, were finalists for the Breakthrough Solution of the Year 2019 award in the S&P Global Platts Metals Awards, for their innovative approach to energy management at a foundry site.
Steve Merritt, General Manager at Eurac Poole, part of the MAT Foundry Group, commented:
“We have been working with GridBeyond since 2016 and have built a successful partnership which allows us to achieve the benefits of demand response participation, whilst minimizing the impact on the daily operations of the business.”
Having achieved the leadership position in Europe, GridBeyond launched operations in the U.S., starting from the liberalized energy markets: Electricity Reliability Council of Texas (ERCOT) and PJM Interconnection, with plans to expand into further territories over the following months. The company looks forward to working closely with C&I businesses, utilities, generators, distributors, utilities, transmission and grid operation networks to enhance their financial outcomes, increase operational resilience and improve sustainability.
GridBeyond recognizes that the energy landscape is complex, and believes that education leads to better, more informed business decisions. To support businesses in navigating the complexity of the energy markets, GridBeyond developed an academy of educational resources ranging from whitepapers and guides, to blogs and webinars that specifically address the opportunities and challenges on the evolving sector.
For more information on how GridBeyond can help metals businesses improve their bottom line through enhanced energy services,visit our metal industry pages.