Edgecom Energy, a Toronto-based startup specializing in IoT and AI solutions for energy management, has won the ABB Startup Challenge 2024.
Out of a competitive field of entrants, Edgecom Energy’s revolutionary AI Energy CoPilot secured the top spot in its category. This AI-based digital optimization engine for energy management is designed to optimize energy usage in industrial and commercial buildings.
“We are honored and elated to be named the ABB Startup Challenge 2024 winner,” said Behdad Bahrami, Co-founder and CEO of Edgecom Energy. “This victory validates our pursuit of innovation in energy management and affirms the impact our AI Energy CoPilot can have on reshaping the future of industrial and commercial energy consumption.”
The AI CoPilot, one of Edgecom Energy’s core products, operates round-the-clock, harnessing real-time data from facilities, external factors like weather conditions and energy costs, and equipment limitations to generate optimal 24-hour schedules for production within the facility.
“The ABB Challenge for startups has highlighted that generative AI is transforming the future of energy management platforms,” states Mehdi Parvizi, Co-founder and CTO at Edgecom Energy. “This technology simplifies the entire process for everyone involved, ushering in significant changes in how facilities manage their energy use. With generative AI, the journey from a mere thought in the mind of an energy manager to the automated sending of signals to control loads happens almost instantly. This rapid transformation of ideas into actionable strategies enhances efficiency and responsiveness, marking a substantial advancement in how we manage and conserve energy.”
Key benefits of the AI Energy CoPilot include:
Energy Optimization: By integrating real-time data and considering various factors such as weather conditions, energy costs, and equipment limitations, the AI CoPilot optimizes energy usage, leading to significant reductions in consumption and costs.
Operational Efficiency Improvement: The AI CoPilot generates optimal 24-hour schedules for managing loads and energy-related tasks, improving overall operational efficiency.
Cost Reduction: The AI CoPilot helps facilities reduce energy bills and overall operational costs by optimizing energy usage and operations.
Environmental Impact Mitigation: The focus on energy optimization and efficiency enhancement lowers the facility’s carbon footprint and environmental impact.
Time Savings: Operating round-the-clock, the AI CoPilot frees up time for facility and energy managers, enabling them to focus on other critical aspects of facility management.
“What sets the AI CoPilot apart is its blend of real-time data integration, comprehensive optimization, continuous operation, adaptability, automation, and customization,” added Behdad Bahrami. “This unique combination of features positions it as a potent solution for energy management in diverse facilities.”
Edgecom Energy’s triumph in the ABB Startup Challenge marks a significant milestone in its mission to foster a sustainable energy future. “Winning the ABB Startup Challenge validates our vision of deploying an energy manager in every facility,” Behdad Bahrami emphasized. “This achievement accelerates our journey towards international expansion and reinforces our commitment to driving innovation in energy management.”
About Edgecom Energy
Edgecom Energy is a Toronto-based startup empowering large energy consumers to reduce costs and emissions through IoT and AI solutions. Founded in 2016, Edgecom Energy specializes in innovative technologies for energy management in industrial and commercial facilities.
