In this time of global market uncertainty one thing we do know is that the world needs energy. We need energy in increasing quantities to support economic and social progress, and build a better quality of life, in particular in developing countries. But providing this energy around the globe comes with a responsibility and commitment to developing and using such resources responsibly. Origami are making positive economic contributions, protecting both people and the environment.
Hence, in an interview with Insights Success, Peter Bance the CEO at Origami, shares his valuable insight about the company’s cutting-edge, smart technology that is shaping the energy systems of tomorrow.
Below are the highlights of the interview:
Give a brief overview of the company, its uniqueness and its vision.
Origami is a leading technology platform provider to the energy market. Our highly secure, scalable and versatile software platform intelligently manages energy assets in real-time. The platform generates value by monitoring and controlling energy assets in real-time to maximise revenue opportunities. It is commercially proven in the highly deregulated UK energy market and is designed to deliver at a global scale. As the world strives to achieve much-needed sustainable energy targets, we believe an intelligent, coordinated network of diverse energy assets delivers the most cost-effective, secure and flexible solution. By connecting assets to their most valuable use case we can create a more effective and fairer energy system for everyone.
What are the cutting-edge products/solutions offered by Origami?
We help customers buy, sell and trade energy better. Our real-time platform provides high-resolution energy monitoring and real-time dynamic control of any energy asset that can turn up/down or on/off. Through Origami Connect, our customers consolidate near real-time data from all assets, improving visibility and profitability. Origami Control provides access to all viable markets to monetise flexibility, leading to higher returns. Origami Optimise is a decision support tool to enable companies to optimise their portfolios of energy assets across dynamically changing value pools and competing use cases. With our technology, suppliers and traders can increase profitability, enter new markets, offer innovative propositions and develop deeper relationships with their customers.
Describe the experiences, achievements or lessons learnt that have shaped the journey of the company.
After an intense period of technology development and trials, 2018 was a transformative year for Origami. Our technology platform was selected by SmartestEnergy to manage its customers’ distributed energy assets. We also entered into a partnership with SSE, one of the world’s largest utilities with £29bn annual revenue, to deliver valuable, real-time, flexibility services to its industrial and commercial customers.
Signing a battery storage deal with the Gore Street Energy Storage Fund in 2018, despite long term ancillary market service contracts being a thing of the past was a success. Gore Street bought the rights from us to build and operate 19MW of battery assets and engaged our team. Providing real-time monitoring, control and operation of the batteries will enable access to multiple revenue streams.
What are the challenges faced while providing smart grid technology and how is Origami serving to tackle them?
The key problem our technology helps solve is enabling more renewable energy to be added to electricity systems. Our platform optimally matches generation, demand and storage with the needs of the electricity system and helps keep it in balance. Our technology enables a lower cost, more secure, reliable and greener electricity system for all. Historically the electricity system comprised a small number of large carbon-intensive generating plants supplying electricity. Generation was matched to reasonably predictable demand. The electricity system is changing. More sources of power, such as wind and solar, provide energy on an intermittent and inflexible basis, while old large-scale flexible generation plant is being retired. As physical and economic requirements of the system become more volatile, intelligent technology solutions, such as those provided by Origami are required to match distributed flexible energy assets to their most valuable use, in real-time. Intelligent solutions will enable increased amounts of renewables on the network and make it fit for the 21st century at the most efficient capital cost.
What according to you could be the potential future of smart grid technology and how does Origami envision sustaining its competency?
The success of the smart grid is essential if the world is to successfully balance energy supply and demand and incorporate low-carbon energy assets. Technology is developing rapidly, and Origami is at the forefront of innovation. We have the right financial backing, the talent, and mind-set and customer base to drive smart grid technology into the future. We are focused on the products, services and technology required by customers today, but we are building a company and technology infrastructure with global significance for the future.
About the leader
Peter Bance, CEO came up with the concept of Origami 10 years ago. Peter observed companies investing in energy assets but recognised that the assets were not being deployed in a smart way.
Out of this sprang the need for Origami – a technology company developed to facilitate a new, smart, integrated way of using energy assets – where the value is less about selling kwh and more about when, where and how energy is bought and sold.
Testimonials from Origami’s Clients
“Flexibility is an increasingly valuable part of the GB electricity market and SSE is delighted to be working with Origami as we deliver our new SSE VPP product. We believe Origami’s technology is market leading and will help us provide significant value to our customers.” – Finlay McCutcheon, Director of SSE Business Energy.