24 September 2019 - 25 Elul 5779 - כ"ה אלול ה' אלפים תשע"ט
Joint venture aims to innovate powergrid technology E-mail

A joint venture to transform and innovate AI technology for power grids was announced on 4 March. The deal was orchestrated by Hong Kong-based China Israel Synergy Holdings Limited (CISH), a management company that finds investments and partners with Israeli tech companies in selective and disruptive technologies.

Mitsui & Co., Ltd. (in Japan), GCL-Poly Energy Holdings Limited (in China) and eVolution Innovation Group (in Israel), together with CISH, have established a new company called Evolution Energy Limited to redefine AI technology for power-grid infrastructure, with the aim of optimising performance and minimising grid loss.

eVolution’s AI algorithms collect massive data from grid elements to learn their patterns and predict real-time demand. This advanced learning will reshape the way the grid operates and provide power companies a giant leap into the future with massive CAPEX and OPEX cost reductions. “There’s huge potential for AI technology to predict and optimise grid performance. Utility companies will be able to transform from the long-standing manual management to sophisticated, agile and green operation,” said Roy Morad, CEO of eVolution Innovation Group.

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