Artemis Energy Services and OSIsoft LLC have announced their partnership to securely track, trace, and trade energy while optimizing the electric grid.
Artemis Energy, a subsidiary of the woman-owned Artemis Technology Group, and OSIsoft LLC, leader in operational intelligence and enterprise infrastructure, aim to create transparency and significantly simplify settlement and compliance within the energy market.
Developed in partnership between OSIsoft and Artemis Energy Services, the blockchain solution can interact with real-time data and will create an entirely new marketplace that has the capability to serve both a single individual, as well as the complex regulatory and operational authorities that govern and manage these markets.
The strategic deployment of an existing software platform, which is designed to manage grid-edge resources such as privately-owned renewables, in partnership with the Artemis Transaction Engine, will lead to a field-proven 20 percent increase in overall grid efficiency and utilization. This efficiency gain will reduce the need for new fossil-based energy sources and utility grid system upgrades.
Extracting the value of data
Simultaneously, OSIsoft is advancing Distributed Energy Resources (DER) into the marketplace by creating a community-centric data ecosystem. It involves the transformation of the PI System architecture to one that supports a community system of data, while maintaining security, reliability, and ease of interconnection to millions of systems, and will provide suppliers, consumers, and service providers, a new way to effectively share and manage data.
The OSIsoft community system approach to data allows a utility to securely interact with grid edge devices, such as batteries, solar inverters, and EV chargers in real time, and creates new methods to help support and stabilize the electric grid, while allowing a transaction system to track, settle, and manage compliance with the market.
“The mission of Artemis Energy Services is to enable the efficient integration, operation, and transactional management of distributed energy resources to reduce utility costs to customers, while we continue to green our energy portfolios,” said Amanda Martinez, CEO and co-founder of Artemis Energy Services.
“It is my pleasure to announce that the Artemis Transaction Engine will be integrating with the OSIsoft PI System to bring the future of the digital energy market to life,” said Dr. J. Patrick Kennedy, CEO and founder of OSIsoft. “Data transparency and security is vitally important, and leveraging blockchain technology allows us to provide our customers with the tools they need to participate in this ever-changing energy landscape.”