The Medicine Hat’s Energy Innovation Challenge, with the collaboration of Decentralized Energy Canada, revealed two companies as winners on Monday. The primary objective of the selection of the two companies is to improve the city’s electricity grid distribution and reduce energy use by utilizing artificial intelligence technology.
Two selected Canadian companies will make efforts and introduce the new products into the market. The benefit will be knowing the energy cost and energy economy in Medicine Hat, Alberta, Canada.
Energy Innovation Challenge and Decentralized Energy Canada: A Collaboration
Artificial Intelligence is the talk of the town no matter what the domain is. In the same way, the Energy Innovation Challenge Program and Decentralized Energy Canada initiated their partnership and revealed two companies to control the electricity grid of the city.
The decision was announced on Monday and motivated the companies to reduce energy consumption. In addition, they are allowed to use Artificial Intelligence technology in their working manner and come up with the best reduction in energy values.
The partnership’s motto is to reveal small businesses' efforts and explore how they come up with innovative ideas and products. The program has been working for three years and has selected six winners to date. It is because they want to learn more about their innovative energy projects.
Medicine Hat’s Innovation Challenge Winners in 2024
The groundbreaking program and Decentralized Energy Canada shortlisted two businesses among other companies. These are:
- Arcus Power Corp
Arcus is a power management company and a winner of Medicine Hat’s Innovation Challenge program. This corporation will focus on how to improve energy planning and use distributed energy storage. It will start its energy operation by using its energy storage software. The project will benefit in evaluating energy resources, such as solar systems battery storage and managing energy distribution.
- Edgecom Energy
There comes Edgecom Energy, a second winner of Medicine Hat’s Innovation Challenge. It is famous for incorporating AI for effective energy consumption and distribution. This time, it will utilize the Internet of Things (IoT) and artificial intelligence.
It will do the following tasks:
- Install sensors at Medicine Hat’s eight locations
- Track energy use
- Suggest reducing energy use along with a management system.
Medicine Hat Future Aims
MLA of Brooks-Medicine Hat, Premier Danielle Smith, claims that the Energy Innovative Challenge program will not stop and continue in the future, helping manage the city’s electricity resources in a better and more refined way. At this point, the next date to apply for the program is January 9. Small-scale companies can participate and serve the best in the energy economy, lowering energy costs for consumers in the city.