Milan, 1 December 2022
algoWatt: European project funded for integration of virtual energy storage systems into smart grids
- The company was awarded a EUR 310,000 grant under the Horizon Europe programme, with the project FlexCHESS
- FlexCHESS will improve the storage capacity and resilience of smart grids in Europe by supporting Virtual Energy Storage Systems (VESS)
- The project, which involves a consortium coordinated by the University of Marseille, will run for a total of 36 months and has obtained funding of EUR 3.2 million
algoWattS.p.A., a GreenTech Solutions Companylisted on the Euronext Milan market of the Italian Stock Exchange, announces that it has been awarded a Euro 310,000 grant under the Horizon Europe programme for the project FlexCHESS - Flexibility services based on Connected and interoperable Hybrid Energy Storage System.
In particular, this is a project, with a total duration of 36 months and an investment of approximately EUR 2.9 million, with EU funding of around EUR 2.3 million for the Consortium coordinated by Universite D'aix Marseille (AMU) and involving 10 partners including energy companies, utilities, research centres and universities.
The FlexCHESS project intends to revolutionise existing energy storage management paradigms by developing a multi-level flexibility approach based on the Virtual Energy Storage System (VESS) concept capable of storing excess energy through hybrid energy storage systems (HESS), modifying their architecture and behaviour to support the dynamics of production and consumption, climate change and the energy market. In the Consortium's intention, FlexCHESS will improve the storage capacity and resilience of smart grids in Europe, thanks to the support that VESS can offer in dealing with the uncertainties and weaknesses associated with the wide integration of FRNP. Based on the Connected Hybrid Energy Storage System (CHESS) aggregation concept, the project intends to improve grid stability by increasing the profitability of generation and storage system installations and ensuring various ancillary services at the distribution and transmission grid level.
FlexCHESS will release a scalable and configurable Open Flexibility Platform (OFP) to facilitate the aggregation of different VESS technologies. The OFP will be powered by, among other things, a comprehensive Digital Twin to support decision-making processes for the integration of new resources into the VESS. algoWatt will coordinate the activities involved in the implementation and integration of the OFP's intelligent functionalities, to provide a complete set of differentiated and complementary services focused on maximising and optimising the flexibility offered by the VESS. In order to validate and evaluate the proposed technological solutions, demonstration activities are planned at five representative pilot sites with different and significant characteristics.
The FlexCHESS project received funding from the European Union's Horizon Europe research and innovation programme under Grant Agreement No. 101096946.