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OTTAWA, Canada – September 25th, 2024.
BluWave-ai announced today that it has expanded its patent portfolio to 30 applications filed in the U.S. Patent Office of which 7 have been granted internationally and one application recently allowed in September 2024. The company has built this technology platform over the last 7 years of strategic research and development to address the key areas to enable the global energy transition and wide-scale electrification of the transport, industrial, residential and energy sector in general.
The company portfolio strategically covers the enabling technology and underpins its products for:
In recent years
the demand on North American grids has been fairly level with conservation
measures coming into effect while demand from electrification started to grow.
Over the next 10 years this picture is expected to change quickly as the
demands of electrification in the transport and energy sector take off driven
by government incentives to tackle emissions and climate change risks. The US
Energy Department estimates that total investments for grid modernization in
that country alone require from $350 to $500 billion (Transforming the Nation’s Electricity System: The Second
Installment of the QER). A report by the Brattle
Group estimates that for the next 10 years the additional investment to
support a high electrification scenario will amount to $160 billion.
“To achieve this
goal, BluWave-ai over its 7-year history has embarked on an aggressive path of
inventions to manage the demand and variable renewable generation sources
replacing fossil-fuel generation is an intelligent software overlay on the
grid, to balance generation with demand and offset expensive capital
investments,” Said Devashish Paul, CEO of BluWave-ai, “BluWave-ai estimates the
market for these intelligent software solutions to be $14B - $20B or 4% of
expected grid CAPEX upgrades in lifetime software deployments for the grid
electrification in North America. Our patent portfolio and products enable this
software grid transition overlay.”
BluWave-ai has deployed the patents and
inventions with its Edge & Center Energy Optimization platform, including Atlas
which has built a database of operational data over the years along with set of
trained AI models.
“BluWave-ai's advanced technologies are
empowering the global evolution of traditional electrical grids toward more
sustainable, efficient, and resilient software-defined smart grids in the face
of growing energy demands and climate changes” said Thomas Triplet, Senior
Director of Engineering at Bluwave-ai, “offering cost-effective and scalable
solutions for enhancing grid performance and reliability and contributing to
global sustainability goals.”
BluWave-ai's growing IP portfolio now
consists of 30 US patent applications filed with 7 granted, including the
following:
“As Canada’s Law Firm, we are excited to
work with BluWave-ai. Their cutting-edge work in AI-powered solutions for
energy optimization aligns perfectly with our commitment to the environment and
innovation,” said Rob Morris, Chief Operating Officer of BLG. “We wish
BluWave-ai every success as they take their product to market.”
Mike McLean, CEO of the Innovation Asset
Collective said, “To become global technology champions, Canadian companies
need to understand the use of IP as a strategic business tool and build strong
IP ownership positions to support their growth.
You cannot commercialize what you don’t own. Only companies with sufficient freedom to
operate can be assured of capturing the high returns that deliver prosperity to
Canada’s economy. It is exciting to see
companies like BluWave-ai building the ownership of IP that will allow them to
capture the financial benefits their innovation.”
BluWave-ai is open to discussing strategic opportunities for licensing and cross-licensing its IP portfolio to select customers, partners, research labs and universities. As an added benefit, BluWave-ai’s customers under contract to use its products, automatically get access to use the IP portfolio embedded in its product during duration of all contracts. Please contact [email protected] to learn more.
About BluWave-ai
Founded in 2017, BluWave-ai is building the world's premier transport electrification and renewable energy AI company headquartered here in Canada’s capital of Ottawa. We are focused on driving the proliferation of renewable energy and electric transportation worldwide with SaaS based AI solutions. Our products optimize in real-time different energy sources, both renewable and non-renewable. This lets our customers – fleet operators, corporations, and utilities – improve their energy decisions for sustainability and costs. BluWave-ai has raised over $16M to date inclusive of a Series A round lead by Ontario Power Generation's Fleet Electrification subsidiary PowerON Energy Solutions and non-dilutive funding in its seed round from Sustainable Development Technologies Canada.
For More Information Please Contact:
Brandon Paul, Senior Corporate Marketing Manager, BluWave-ai
www.bluwave-ai.com