Nextract Energy provides intelligent energy management solutions for renewable energy operators to maximize profitability. The platform uses AI-based forecasting to optimize battery storage schedules for economic dispatch and curtailment avoidance. This results in increased revenue, shorter payback periods, and reduced regulatory risk through seamless technical integration.
Funding
$1.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TUFounders
Product
Problem
Renewable energy producers face challenges due to grid congestion, leading to frequent curtailments where excess energy cannot be fed into the grid, resulting in wasted resources and lost revenue. Predicting these curtailments accurately and optimizing the use of excess energy is difficult, hindering the profitability and sustainability of renewable energy investments.
Solution
nextract energy offers an AI-powered platform that forecasts grid curtailments with high precision, enabling renewable energy producers to optimize the scheduling of on-site energy usage. The platform analyzes grid conditions and renewable energy production patterns to predict curtailments to the minute, allowing producers to proactively utilize excess energy for applications such as battery storage, hydrogen production, and Power-to-X technologies. By optimizing energy usage during curtailment periods, nextract energy helps producers maximize their output, reduce reliance on fossil fuels, and improve the economic viability of renewable energy projects. The platform provides optimized schedules directly to the control system or through a dashboard with recommendations.
Target Audience
The primary target audience includes renewable energy producers, such as solar and wind farm operators, seeking to maximize their output and profitability by mitigating the impact of grid curtailments.
Features
- AI-driven prediction of grid curtailments based on real-time grid conditions and renewable energy production data.
- Optimized scheduling of battery storage, hydrogen production, and Power-to-X applications to utilize curtailed electricity.
- Direct integration with control systems for automated scheduling adjustments.
- User-friendly dashboard providing actionable recommendations for energy usage during curtailment periods.
- Customizable solutions and software modules for novel applications of curtailed energy.