McLean, VA (July 17, 2019) — BEM Controls LLC, a Mclean-based energy Internet of Things (IOT) company, has been awarded a $1,050,000 Phase II Small Business Innovation Research (SBIR) grant from the U.S. Department of Energy’s (DOE) Office of Science to develop a transactive energy platform leveraging blockchain and BEM Controls’ WiseBldg© (“Wise Building”) proprietary open architecture building energy management system.
The award provides funding to enhance and commercialize a blockchain-based transactive energy platform (“Energy Internet”) developed with DOE SBIR Phase I funding. The Energy Internet platform will fully integrate with commercial and residential buildings using WiseBldg software. This end-to-end platform will provide utilities, distribution system operators (DSOs), building owners and Distributed Energy Resource (DER) owners the ability to conduct peer-to-peer transactions of both electricity generation (kilowatt hours) and demand response capacity (negawatts) at scale. Utilities will also be able to improve the efficacy and security of demand response initiatives and grid infrastructure through real-time monitoring and control of building level loads.
In the United States, the Solar Energy Industries Association anticipates that solar photovoltaic (PV) capacity will double in the next five years as will deployments of other distributed energy technologies such as microgrids, battery storage and electric vehicles. Such energy systems coupled with low-cost smart-building devices are accelerating the digital transformation of utility business models. Industry analysts estimate the market of opportunity smart demand response will exceed US $17 billion by 2025.
“By leveraging blockchain technology, WiseBldg will enable end-to-end transactive energy applications at scale,” says Dr. Saifur Rahman, Founder and CEO, BEM Controls. “In addition to offering peer-to-peer transactions, the ‘Energy Internet’ will provide DSOs, DER owners and building operators real-time visibility into energy usage of their assets and local availability of energy resources which is critical to making transactive energy a reality.”
About BEM Controls
BEM Controls, LLC (established 2015) is an Internet of Things (IOT) software company founded by faculty at Virginia Tech and headquartered in the Washington DC metro area. WiseBldg (pronounced “Wise Building”) is BEM Controls’ powerful, low-cost, open-architecture software platform that can monitor and control major electrical loads (e.g., HVAC, lighting and plug loads), as well as solar PV systems, energy storage units, security cameras and other IoT sensors in commercial and residential buildings. WiseBldg leverages machine learning algorithms to draw insights from a deployed building’s historical operating data and occupant preferences to save energy (kWh) while increasing occupant comfort. For further information contact Rasheq Rahman, Chief Operating Officer at email@example.com or visit www.bemcontrols.com.
About the U.S. Department of Energy’s Office of Science
The U.S. Department of Energy’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, visit https://energy.gov/science.