Post: GridBeyond launches Process Optimizer to support manufacturing companies in North America

GridBeyond launches Process Optimizer to support manufacturing companies in North America

GridBeyond, a market leader in flexible energy management, launches Process Optimizer to support manufacturing companies in North America

Optimizing their production schedule against variable energy prices, a typical cement plant could save more than 12% in annual energy costs while guaranteeing production targets.

GridBeyond today announced the launch of its Process Optimizer service, providing unique opportunities for industrial sites to boost their profitability by optimizing their production schedule against variable energy prices while guaranteeing production targets. The new data-driven service uses digital simulations of each industrial process to identify efficiencies in plant schedules, optimizing each sub-process against variable energy market prices while ensuring that overall daily and weekly production targets are met. Based on a recent case study[1], GridBeyond helped a Texas-based cement plant reduce their annual energy costs by 12%. Moreover, the increased digital intelligence GridBeyond provided more visibility into site operations and identify new sources of previously untapped flexibility.

Traditionally, industrial production schedules were planned based on rules-of-thumb and intuition. But, in today’s dynamic market, with energy prices constantly fluctuating, businesses leave money on the table by not adopting a more agile and data-driven approach to production scheduling. GridBeyond’s Process Optimizer can help play a pivotal role in supporting businesses increase their digital intelligence, make decisions to minimise the impact of energy price peaks, and, ultimately, reduce their cost of production by scheduling operations and processes against energy prices.

How does it work? By creating a “digital twin”, or virtual replica of the entire site, Process Optimizer captures every nuance of the industrial process and thus energy consumption. This proactive approach allows industrial companies to schedule their processes against machine learning-based forecasts of energy prices, to ensure cost of productions. Used by the facility manager as either recommendations for site operations, or a fully automated solution, GridBeyond helps industrial sites minimize the impact of energy price fluctuations and capitalize on opportunities for cost savings.

Case Study: Save up to 12% in annual energy costs in cement production:

In one of our case studies, a cement manufacturing plant was using power to operate throughout the day, regardless of price spikes. While the site had a series of fixed asset parameters, GridBeyond helped the site find flexibility in its silo assets without impacting overall product quality or operations – providing an opportunity for significant electricity cost savings on electricity, generating bottom-line growth for the business.

By reducing production at the three silos on site when at or near maximum capacity and using algorithmic energy trading, the site was able to monetize its flexibility by participating in energy markets. Working with GridBeyond, the site scheduled its energy consumption around price spikes and was paid to be in standby flexibility programs. Through its energy market optimization services, GridBeyond ensured the site was traded in the highest revenue markets, reducing overall energy costs by 12% annually.

“The launch of Process Optimizer in the U.S shows once again GridBeyond’s commitment towards continued innovation in flexible energy management and energy market optimization. .” said GridBeyond Chief Product Officer Sean McEvoy. “This product will empower manufacturing companies to optimize production schedules in the face of energy price volatility. By harnessing the power of data analytics, deep industrial expertise, and machine learning, companies can gain valuable insights into energy consumption patterns, identify cost-saving opportunities, and optimize production schedules in real-time”.

[1] Based of cement plant in Central Texas with 7,500 tons of daily cement production, drawing on flexibilities in the cement mill (28.3t/MWh) and raw mill (69.5t/MWh) flexibilities, and based on ERCOT North Hub prices in 2023. For more information refer to: https://gridbeyond.com/energy-user-btm/process-optimizer/