Moixa partners with ITOCHU Corporation to endorse GridShare platform
UK’s leading smart battery company, Moixa asserted a strategic partnership with Japan’s largest trading houses, ITOCHU Corporation to endorse its GridShare platform that optimises home energy storage systems.The agreement enables Moixa to launch GridShare platform in the rapidly growing Japanese battery market.
Itochu, which is ranked 215th in the Fortune 500, will also help fund international expansion by investing £5 million in Moixa. Itochu will have sold over 6,000 units of “Smart Star” home battery systems through its distribution network in Japan by the end of March 2018 and will install GridShare as standard on products by the summer of 2018. The technology will save customers money by using artificial intelligence to optimise the performance of their battery based on their patterns of behaviour, the weather conditions and market prices.
Koji Hasegawa, General Manager of Industrial Chemicals Department at ITOCHU, said: “Moixa has pioneered battery management, and we are proud to be investing and working together to target the rapidly growing energy storage market in Japan. Moixa’s GridShare will help our customers get more value for their home batteries and will offer solutions to help our partners manage Japan’s low-carbon transition.”
Japan is one of the world’s leading home battery markets and GridShare offers significant benefits to consumers, utilities and electricity networks. It is now the fourth biggest solar market in the world after Germany, China and India with 11GW generated by home systems.
Artificial intelligence and optimisation algorithms are being increasingly used in the energy system to ascertain savings opportunities. Google, for example, has achieved 15% energy savings in its data centers.