Electrify (ELEC) has announced today that it partnered with Narada to roll out PowerPod solution with their energy storage network across Asia Pacific.
Based on the Memorandum of Understanding, Electrify is to deploy PowerPod technology side by side with Narada’s energy storage platforms.
In a statement by Electrify, PowerPod, which has an IoT functionality, captures and presents data on a visualization dashboard in real time, thereby generating the opportunity to correctly track the price and movement of energy against the spot price of electricity in the market.
In the MoU sealed with the South East Asia arm of China’s Zhejiang Narada Power Source Co Ltd, Narada will depend on Electrify’s tools for accurate tracking, real-time trading, and optimization of distributed energy storage assets across its operations in the Asia Pacific, thereby ensuring the deployment of the device in countries like Singapore, Australia, Japan, and Cambodia come 2018.
Speaking on the development, Jonathan Tai, a spokesperson at Narada maintained that the company is committed to clean and sustainable environment, hence, the reason it partnered with Electrify.
“Narada remains deeply committed to building a clean and sustainable environment, seeking to achieve a balance between the economy and ecology through innovative use of energy storage technology. Together with Electrify, we are confident in achieving this vision, introducing greater energy intelligence to the Asia Pacific market.”
According to Bloomberg, Narada is touted as the world’s second largest energy storage capacity in 2017, with a gross revenue in excess of US$1.376 billion.
Aside the fact that Narada has presence in 150 countries, in 2017, it completed the 1st Commercialized Energy Storage System in China. The project is a large-scale Energy Storage System singlehandedly designed and constructed by Narada.
Electrify has been partnering with different power companies in recent time. In April, it collaborated with TEPCO to decentralize Singapore’s national energy market.
According to Martin Lim, Co-founder and COO of Electrify who spoke on the latest partnership, Electrify team’s readiness to work with Narada is precipitated from their zeal to enhance energy with smarter and more efficient ecosystem.
“We believe the future of energy sustainability starts with smarter and more efficient energy ecosystems,” Martin said.
“This belief has guided the development of our technology and solutions. We are pleased to be able to work closely with Narada and they share our vision of building smarter, cleaner energy systems that will serve the grid more effectively.”
In 2017, Narada was ranked in China as first in terms of installed capacity, power scale and energy scale in the operated energy storage projects, giving it an edge to become the frontrunner of electrochemical energy storage technology and system provider across the country.
