Keeping up with the data-driven energy industry
Australian integrated energy company Origin Energy has invested in technology provider Intertrust in order to capitalise on the industry’s transition towards data-driven models.
It has joined a number of other companies — including German energy company innogy SE, Philips, Sony and World Innovation Lab (WiL) — that are partnering with Intertrust to leverage its expertise in securing and managing the exchange of energy data.
“Advancements like the proliferation of connected devices and decentralised renewable energy sources have driven and will continue to drive fundamental shifts in energy markets around the world, moving them toward data-driven models,” said Frank Calabria, Chief Executive Officer at Origin Energy. “Intertrust is a leader in driving this transformation globally, and is the ideal partner to help leaders in the space evolve ahead of these changes, and capitalise on growth opportunities presented by connecting and controlling distributed assets.”
In the company's Quarterly Report March 2019, Calabria explained the minority equity investment (US$20 million) in Intertrust Technologies will “build capability in and deliver digitally enabled customer solutions”.
The two companies have also entered into a research and development partnership and have formed a joint research lab to develop new data-driven products for the global energy market and the Internet of Things (IoT).
“As IoT and cloud computing penetrate the energy industry, our data rights management and secure systems technologies are the ideal tools to enable secure data exchange, network planning and trading for IoT-based retail, grid, trading and renewable energy applications,” said Intertrust Chief Executive Officer Talal G Shamoon. “Origin is a tremendous strategic partner for us; not only is Australia a hotbed of innovation and an amazing market, but the joint R&D partnership we’ve formed will be a crucible for developing new technologies in the energy space.”
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