- The company will play the role of digital energy solution provider and system integrator in the THUMBS UP project, receiving funding of Euro 275,000 under the Horizon Europe programme
- algoWatt will implement a Smart Building Energy Management System, in a complex project that will include the development of innovative thermal energy storage technologies, with the integration also of a digital twin of the building that will be used for experimentation
algoWatt, a GreenTech Company listed on the Euronext Milan market of Borsa Italiana, announces that it has received funding of approximately Euro 275,000 for activities as Digital Energy solution provider and system integrator within the project THUMBS UP “Thermal energy storage solUtions to optimally Manage BuildingS and Unlock their grid balancing and flexibility Potential”, financed with funds from the Horizon Europe programme to achieve high-performance results that will significantly contribute to the development of a sustainable economy in the European Union. THUMBS UP aims to develop innovative technologies and uses of daily and weekly thermal energy storage systems that can be easily integrated into buildings to increase their energy efficiency and harness the Power-to-Heat (PtH) paradigm, to make buildings key players in the flexibility of the global energy grid. THUMBS UP aims, in this sense, to overcome the limitations of state-of-the-art building-integrated technologies, increasing energy density and reducing the intesity factors of capital investment in this sector. To capitalise on know-how already available within the consortium, THUMBS UP will promote complementary digital innovations aimed at simulating, optimising and maximising the technical, operational and economic benefits of the proposed solutions, through:
- the Smart Building Energy Management System (under algoWatt) to integrate, control and manage building-level design solutions, maximise the use of local RES, optimise the efficiency of H&C – Heating & Cooling systems and coordinate operation with other building assets and energy demand;
- the Digital Twin to (i) optimise and maximise the energy flexibility and load-shifting benefits that building-integrated solutions provide to the electricity grid (through supply services for heating/cooling and grid in aggregation) and (ii) (for buildings connected to DHN) to coordinate the operation of the solutions with the supply of thermal energy from DHN, reduce peak thermal power and enable a more flexible use of heat.
The THUMBS UP project, with a total duration of 48 months and an investment of approximately Euro 7.6 million (with funding of approximately Euro 6.4 million), is coordinated by Veolia Servicios Lecam Sociedad Anonima Unipersonal (ES) and involves 18 companies, universities and research centres, including the University of Genoa, the University of Messina and the Polytechnic of Turin. The THUMBS UP project received funding from the European Union’s Horizon Europe research and innovation programme under Grant Agreement No. 101096921.