Monday, May 27, 2024

DOST-assisted startup offers AI tool to cut electricity cost

A smart energy analytics platform developed by local energy startup Exora Technologies has the potential to enable Philippine firms to reduce their electricity bill and save money.

Exora is able to do this through an electronics board, which is an artificial-intelligence-powered system that assesses the client’s profile and behavior using historical and real-time data.

With Exora Source, customers that have monthly electricity bills of P2.5 million or above can find their best match retail electricity suppliers (RES) and save up to 30 percent in their electricity bill.

The electronic device, called a procurement, will give the consumer a remote access to at least 79% of the available retail power in the market, allowing them to see which RES have high ratings in the system and is most suitable to their energy needs.

Exora also offers a cloud-based energy-monitoring and reporting tool dubbed as Analytics so that facility engineers can keep track of power consumption via online. Both systems, Exora Source and Analytics, are capable of remote energy monitoring and procurement.

Supported by the Technology Innovation for Commercialization (TECHNICOM) program of DOST-TAPI and monitored by Department of Science and Technology – Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) and currently housed at the Creativity and Innovation Hub of Ateneo de Manila University, Exora will serve as the dedicated procurement arm to provide great and positive customer experience using Intellex.

The biggest mall chain in the Bicol region, LCC has adopted the technology and acquired three retail electricity contracts to save almost P6 million annually. It is hoped that this AI-powered technology will help more Filipino business owners to save up on electricity and help them in their operations.

“We believe in the huge potential of this technology to minimize energy waste and maximize savings on electric bills, that is why, we have invested on it,” said PCIEERD executive director Enrico C. Paringit. “We can’t wait to see more innovative energy-saving ideas in the Philippines, changing lives and helping others in the process,” he continued.

Exora’s utility model (UM) application is still in progress through the assistance of Ateneo Intellectual Property Office. The team is now working to refine the Exora system and its processes to better serve the Filipino community.


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