United States - October 31, 2024 —

Today Hover Energy is excited to share that they are collaborating with IBM to help address the growing demand for sustainable power solutions in the built environment. Hover believes that together, their Wind-Powered Microgrid technologies and IBM Maximo Application Suite - the core of IBM's industry-leading Asset Lifecycle Management (ALM) - create a powerful synergy that can help reshape the future of distributed generation.

Unlocking the Potential of Built Environments

Built environments represent a vast untapped resource for clean energy generation and distribution. Microgrids can harness this potential by integrating renewable energy sources like solar panels and small-scale wind turbines on rooftops, as well as energy storage systems within existing infrastructure. The United States alone holds an untapped potential of over 30 GW of clean energy within its built environment – a staggering figure that surpasses the total renewable power installed in the US in 2023 by nearly tenfold. (NREL, 2016)

Several factors are driving the adoption of microgrids in built environments:

1. Energy Security: Microgrids provide resilience against power outages, crucial for critical facilities and businesses.
2. Sustainability Goals: Organizations are increasingly adopting microgrids to meet carbon reduction targets and demonstrate environmental responsibility.
3. Cost Savings: By optimizing local energy production and consumption, microgrids can reduce reliance on the main grid and lower energy costs.
4. Grid Modernization: Microgrids support the transition to a more flexible, decentralized energy infrastructure.

Despite the potential, challenges remain:

1. Initial Costs: High upfront investment can be a barrier, especially for smaller entities.
2. Regulatory Hurdles: Varying regulations across regions can complicate microgrid implementation.
3. Technical Complexity: Integrating microgrids with existing building systems requires specialized expertise.

As technology advances and costs decrease, adoption is expected to accelerate, particularly in commercial, industrial, and institutional sectors. The market is seeing an increased collaboration between new energy companies, technology providers, and property developers to create integrated microgrid solutions tailored to built environments.

Hover Energy has been at the forefront of harnessing this immense potential, with successful installations of its innovative technologies in both the US and UK. As the market matures, they can expect to see more innovative applications and business models emerge, further driving the integration of microgrids into urban and commercial landscapes.

“We’re on a mission to turn the built environment into a power source, one site at a time,” offers Hover CEO & Founder Chris Griffin. “Most of the current renewables approach worldwide is focused on a massive scale.  While that is admirable, the greatest resilience and security are clearly created through distributed generation models. Our collaboration with IBM is designed to link current infrastructure with the power systems of the future so we can help modernize our distributed grid system.”

The Power of Integration

Hover's microgrid solution, alongside IBM’s sustainability software, offers a comprehensive answer to the challenges posed by integrating multiple power assets. By seamlessly combining solar, wind, and battery technologies, this collaboration efficiently manages the increased operational and maintenance complexities inherent in such systems.

At the heart of this collaboration lies the integration of Hover's Renewable Energy Router with IBM's cutting-edge software solutions:

1. IBM Maximo Application Suite (MAS): Provides a complete ALM solution for critical power generating and storage assets. This includes remote monitoring combined with reliability data, to continuously track asset health. These data-driven insights enable advanced maintenance practices that improve asset productivity, availability, and ultimately extend their useful life.
2. IBM Envizi ESG Suite: Facilitates comprehensive tracking and reporting of the impact of greenhouse gas emissions on distributed energy initiatives.

This is designed to offer increased control and insight into microgrid operations, paving the way for more efficient and sustainable energy generation and consumption. Furthermore, the IBM Envizi ESG Suite is integrated with MAS. It supports the capture, management, and reporting of ESG data related to these initiatives, empowering businesses to record their impact and contribution to corporate targets.

Client Benefits and Sustainability Goals

This innovative solution empowers clients to:

1. Maximize the dependability and reliability of distributed clean energy assets.
2. Advance efforts towards decarbonization and achieving net-zero targets.
3. Meet and exceed sustainability goals (ESG, SDG, etc.)

The Minimum Viable Product (MVP) is scheduled for completion by the end of 2024, with the first deployment slated for Q1 2025. Full market rollout is expected in the second half of 2025.

Global Impact

The collaboration aims to accelerate the adoption of sustainable energy solutions worldwide, contributing to a cleaner, more resilient future for all. As they stand on the brink of a new era in distributed energy systems, Hover Energy believes their relationship with IBM represents a pivotal step towards realizing the full potential of renewable energy in built environments. Together, they are not just powering buildings – they’re powering the future of sustainable energy management.

Click here for more about the Hover Energy:

https://hoverenergy.com

Contact Info:
Name: Joshua Price
Email: Send Email
Organization: Hover Energy
Website: https://hoverenergy.com/

Release ID: 89145002

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