2020-09-24
Toshiba Energy Systems & Solutions partners with PXiSE Energy Solutions for microgrid projects

Toshiba Energy Systems & Solutions partners with PXiSE Energy Solutions for microgrid projects

PXiSE Energy Solutions (PXiSE) and Toshiba Energy Systems & Solutions (Toshiba) earlier this week signed an MoU that provides a framework for developing new microgrids projects, initially in Japan and, ultimately, worldwide. A Mitsui & Co., a PXiSE investor will also participate in the venture.

A microgrid is a local energy network that independently provides consumers such as municipal buildings, office buildings, and schools with required electricity by combining renewable energy with battery storages to control electricity supply, and monitoring electricity demand.

“The transformation from one-way power flow to decentralized power grids worldwide presents a tremendous opportunity for companies to seamlessly integrate and manage thousands of distributed energy resources, as our control solutions are designed to do,” said Patrick Lee, CEO of PXiSE.

“By joining forces with Toshiba, one of the world’s leading technology companies, and with the continued backing of our investors, Sempra Energy and Mitsui & Co., we aim to leverage our collective marketing, service, and project development resources to capitalize on the growing global need for more flexible and resilient energy systems.”

The two companies intend to pursue project development and joint marketing activities incorporating PXiSE’s software-based microgrid control platform.

Projections from research firms state that the global microgrid market is expected to reach $40 billion by 2028 – a five-fold increase from the current $8.1 billion. The total microgrid capacity is expected to increase from 3.5 GW to 20 GW over the next decade, and the Asia-Pacific region remains the largest overall market for microgrids, with remote regions and islands making up the majority opportunity.

Japan, presents a unique opportunity for locally distributed energy systems and microgrids given the country's high dependence on imported energy sources which are vulnerable to disruptive natural calamities. The energy self-sufficiency in Japan is well under 10%, and in the last few years, the country has deployed distributed renewable generation and microgrids with greater urgency to meet the energy demand and enhance resiliency.  

Japan is pioneering a very sophisticated energy generation, distribution, and management solutions. We are excited to be at the forefront of this innovation through our planned partnership with  Toshiba,” said Lee.
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