Operating in Melbourne since 2018, the energy intelligence company presents its microgrid project to bring Queen Victoria Market into the 21st century
MELBOURNE – The world’s 300 largest and most innovative power companies are meeting in Melbourne, Australia, this week to attend the Power and Utilities Australia conference. Among them is only one Brazilian company, Fohat, an energy intelligence company that will present its project to implement a microgrid to make Queen Victoria Market self-sufficient in power generation and consumption, to help cooling the historic market.
The premier energy event in Australia – a country that supplies about 70% of its homes with renewable energy – Power and Utilities will discuss the challenges and strategies for providing reliable, affordable, and sustainable energy in the country. A reference in the energy sector for developing solutions that enable the free market for clean energy, Fohat is the first and only company in Latin America to use blockchain in solutions for the energy sector, acting in the field of generation and accumulation, consumption, and commercialization of energy.
Fohat’s case will be presented at the conference by Igor Ferreira, the company CEO and founder Igor Ferreira, by Renan Schepanksi, Head of Sales and Marketing, and by Douglas Ferreira, Head of Global Development and leader of the Melbourne office.
The Brazilian company’s project will take Queen Victoria Market (the largest open-air market in the Southern Hemisphere) out of a very lagging stage and structure it for 21st-century demand in an important region of Melbourne. Fohat anticipates the installation of an energy intelligence (EI) solution that will result in energy self- sufficiency and rational use of surplus. This, in turn, can be used to optimize the consumption system itself or even be used by local merchants.
The team, led by Douglas, has just delivered the last step of the EI solution that encompasses cultural impact assessment, consumption history and forecasts, and a thorough technical and commercial feasibility study. Also included is the design of a new power generation system by means of solar panels integrated with a battery bank energy storage system with surplus capacity that can be consumed by merchants themselves or be redirected to the city’s distribution network.
“Our preliminary study showed that a microgrid can reduce the power consumption of the cooling system by 44% to 64%. The cooling system is, today, the most energy-consuming system on the market. We scaled the market system to generate up to 2.4 GWh of energy”, Douglas Ferreira says.
Founded in 2017, Fohat strategically chose the Australian market to develop new solutions for the energy sector. “When it comes to the free energy market, Australia is one of the most mature scenarios in the world. The solutions we create here will surely work for other countries”, the Melbourne office manager explains. Fohat’s case for the Queen Victoria Market will be presented this Wednesday (14), at 12:30pm, during Power and Utilities. The Brazilian company participates in the event from the Startupbootcamp exhibition area, one of the company’s investors.
About Fohat | Founded in 2017, Fohat (www.fohat.co) is a Brazilian energy intelligence company with innovative solutions for the energy sector, enabling the free energy market and generating benefits for the planet, people, and organizations with inclusive growth, social inclusion, welfare, and sustainable social, environmental, and economic development, in full and practical alignment to the 3D energy goals (decarbonization, decentralization and digitalization). It operates in the fields of energy generation and accumulation (with energy management and dispatching distributed generation assets), energy commercialization, and consumption. It is a market reference in the energy sector, and the first and only company in Latin America to apply blockchain technology to the energy sector. It has a prominent role in the global energy milestone of June 2019, with the launch of the Energy Web Chain (EWC), as a signatory of the Energy Web Foundation, the largest international institution in the sector.