Grid wiz (CEO Kim Koo-hwan) has increased its sales by 15 times in just 3 years since its establishment by focusing on electric DR (Demand Resource) markets that were established in 2014. It is planning to continue increasing its sales again this year by focusing on a converged model called ‘ESS (Energy Storage System + DR’.
Gridwiz made an announcement on the 30th that it made $16.8 million (19.8 billion KRW) and $170,000 in sales and operating profits respectively in 2016 based on DR sector. Its sales increased by 15 times in just 3 years since its establishment in 2014 when its sales were $1.10 million (1.3 billion KRW). Currently it has prepared a stable profit structure as it has about 400 customers under credibility (peak reduction) and economic feasibility (fee reduction) DR fields.
Its competitive edge comes from real-time data obtaining device with an unit of 1 minute and data manufacturing and system operating technologies. As real-time response is the most important thing in DR markets, it needs to support electric demand management system that is faster and more accurate. Through system semiconductor technology, it has applied Big Data technology that combines AMI (Advanced Metering Infrastructure) that collects electric data and data analysis algorithm to its system. It has been providing demand management service since 2014 and has secured Open ADR (Automatic Demand Response) 2.0 technology.
Gridwiz is going to work on expanding ‘ESS+DR’ markets. It finished verifying foreign markets through test-operations based on ESS, PMS (Power Management System), and international standards in three locations in Los Angeles. By utilizing ESS business in this year, it is going to expand amount of power that its customers use up to automatic control. Customers can reduce basic fees and consume energy by avoiding power peak. Not only is Gridwiz going to enhance its demand management service but it is also going to push for a business that can make energies from factories more efficient and can be linked to demand management.
“Along with ESS solution business in this year, we are going to expand other businesses such as electric vehicle charging service module and establishment of new solar power development business besides of DR business.” said CEO Kim Koo-hwan. “We are going to pioneer energy trade markets based on people that use electricity by pushing for ESS, solar power development, and P2P power businesses.”
Staff Reporter Park, Taejun | gaius@etnews.com
