The startup provides battery energy storage systems that repurpose used electric vehicle batteries for sustainable energy storage. Their systems include maintenance services and optimal battery control technology to ensure long-term storage capacity and reliability, addressing the need for cost-effective energy solutions.
Funding
$750K 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.
SFounders
Product
Problem
Businesses and industries face challenges in optimizing energy consumption, reducing peak demand charges, and maximizing the use of renewable energy sources like solar and wind. Fluctuations in energy prices and the intermittent nature of renewable energy generation can lead to increased costs and grid instability.
Solution
Octave provides integrated Battery Energy Storage Systems (BESS) and a data-driven Energy Management System (EMS) to address these energy management challenges. Their solutions include both first-life and second-life battery systems, coupled with advanced control algorithms, to optimize energy usage, reduce peak consumption, and enhance grid stability. The EMS integrates battery storage, solar energy, and EV charging, enabling businesses to reduce energy costs, participate in grid services, and maximize the value of their energy assets. Octave's Battery Cloud technology enables remote monitoring, predictive maintenance, and anomaly detection, ensuring reliable and safe operation of the battery systems.
Target Audience
Octave's primary customers are small and medium-sized enterprises (SMEs) and industrial sites seeking to optimize energy consumption, reduce costs, and improve sustainability, as well as solar PV installers and investors.
Features
- Turnkey Battery Energy Storage Systems (BESS) for indoor and outdoor applications
- First-life LFP battery systems with capacities of 215 kWh and 233 kWh, and power of 100 kW
- Circular (second-life) battery systems with capacities of 121 kWh and 242 kWh, and power of 92 kW and 184 kW
- Integrated bidirectional inverters and thermal management systems (air-cooled or liquid-cooled)
- Battery Cloud technology for remote monitoring, data analytics, and predictive maintenance
- Energy Management System (EMS) for optimizing self-consumption, peak shaving, and grid services participation
- Optimal Battery Control algorithms for day-ahead and imbalance market arbitrage
- Solar curtailment feature to manage solar energy production based on real-time market conditions
- EV load balancing to relieve electrical congestion and optimize EV charging infrastructure