Today, three leading European energy companies announced the creation of a joint venture, Regalgrid Europe s.r.l., to improve grid operations for customers around the world. The company combines the technology expertise of Regal Grid s.r.l., the financial strength of Archeide SICAV SIF - Empower Fund managed by Archeide Lux and the installation and service knowledge of Upsolar.
Supported by proprietary algorithms and patented technologies, Regalgrid Europe will design, develop and operate regional advanced smart grid networks. Each user integrated into a Regalgrid (Renewable Energy Generated and Accumulated in Local Grid) network will gain the ability to generate, store and consume electricity locally, and to share resources with others in the network. This localized generation and consumption model minimizes reliance on regional distribution systems. Regalgrid networks can be configured for both residential and commercial and industrial applications.
Regalgrid networks bring multiple advantages to both local users and regional utilities, including: more efficient use of renewable energy resources, including intermittent solar and wind assets, which are otherwise difficult to manage and deploy in line with consumers' real-time energy requirements; shorter transmission distances, significantly reducing the amount of energy lost between the generation source and the point of consumption; distributed energy storage resources better sized to meet the varying needs of local networks; and lower monthly energy bills for consumers.
"By modernizing the grid services offered to end-users, Regalgrid Europe is reducing both the cost and the waste of energy to simultaneously achieve economic and environmental benefits for all," said Davide Spotti, developer, founder and chairman of the board for Regalgrid Europe.
