10/23/2018

Working together for new solutions in energy efficiency: MR cooperates with energy provider Gridwiz and startup Crocus Energy

Representatives of MR, Reinhausen Korea, Gridwiz and Crocus energy after signing the contracts in Paris
Representatives of MR, Reinhausen Korea, Gridwiz and Crocus energy after signing the contracts in Paris

Maschinenfabrik Reinhausen (MR), together with its South Korean subsidiary Reinhausen Korea, the Korean energy expert Gridwiz and the energy startup Crocus Energy announced that they have concluded a memorandum of understanding (MOU) for the development and supply of an energy efficiency solution. The MOU was signed on 29 August at the “Cigre Session 2018” in Paris.

As the world market leader in the manufacture of on-load tap-changers, MR holds a leading global position in the transformer business and over 50% of global electricity flows through its products. Gridwiz is a leading smart energy company which develops and offers various demand-response products and solutions in Korea.  Crocus Energy, a Silicon Valley-based startup company was founded by experts in the areas of smart grids and machine learning.  Their first product „power saver“ is an AI-based industrial IoT solution that optimizes the power consumption of large companies by gathering power and sensor data and using an embedded machine-learning algorithm.

Gridwiz had already successfully completed an energy efficiency project last December for a production line of Corning Precision Materials which included a voltage regulator and tap changer from MR as well as the power saver from Crocus Energy.
 

 

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