MALAGA, Spain and COPENHAGEN, Denmark, Jan. 5, 2011 (GLOBE NEWSWIRE) -- GreenWave Reality, a global innovator in home energy management solutions, announced today that it will collaborate on the SmartCity Malaga Project. GreenWave Reality will be providing its home energy management platform that empowers consumers to easily monitor and control their energy usage. The GreenWave Reality platform allows utilities to better balance energy on the grid and also enhances their relationship with consumers by providing them with ways to conserve energy.
The Malaga SmartCity initiative, led by the Spanish utility Endesa, has been launched introducing a new urban energy management model in a bid to improve energy efficiency, reduce CO2 emissions and shift consumption to renewable energies. It will involve 11 companies and 14 research centres and is expected to benefit 300 industrial, 900 commercial and 12,000 household customers over a four year period. The project has become a global benchmark in the development of energy technologies for a new energy distribution and consumption paradigm.
GreenWave Reality is an official technology partner of the project and will provide a platform focused on energy management for residential customers. The GreenWave Reality standards-based platform creates a home area network (HAN) comprised of smart PowerNodesTM, an in-home display, and connected LED lights along with an intuitive and engaging consumer application. At the heart of the GreenWave Reality solution is the Gateway that automatically and securely connects to the Smart Meter, providing an overall view of the home's total energy use. The Gateway also connects to the PowerNodes and LED lights, making the devices smart, energy conscious, and controllable from within the home or remotely via the Internet or a smartphone.
"We eagerly look forward to beginning our work with the SmartCity project," said Greg Memo, CEO of GreenWave Reality. "This is one of the most innovative projects in the world and we are proud to provide our leading-edge home energy management solution to consumers so they may gain a better understanding and greater control of their energy usage."
GreenWave Reality will be showing its home energy management platform including its new LED lighting solutions at the annual 2011 International CES tradeshow in Las Vegas, January 6-9th, 2011. Please visit our website, for additional details.
About GreenWave Reality
GreenWave Reality is a global innovator in the emerging Home Energy Management market. GreenWave Reality provides an affordable, easy-to-use, standards-based platform that allows utilities to enhance their relationship with consumers and better balance energy on the grid while consumers can conserve energy with a minimal impact to their lifestyle by easily monitoring and controlling their appliances and adding intelligent LED lighting. GreenWave Reality's funding is led by Craton Equity Partners, a Los Angeles-based cleantech fund, and has also received support from the Singapore Economic Development Board (EDB). GreenWave Reality has offices worldwide including Copenhagen, Denmark, Irvine, California, and Singapore.
About SmartCity Malaga:
SmartCity, the efficient city initiative being developed in Malaga and led by Spanish utility Endesa, has become a global benchmark in the development of energy technologies for a new energy distribution and consumption paradigm. SmartCity is a consortium of 11 Spanish companies and 14 research institutions.
In recent years, utilities have been developing a new management model for its distribution network which allows for greater energy efficiency and offers value-added services. That is, is configuring its network according to the concept of smart-grids, which entails new smart-meters, which allow for greater network safety, advantages for consumers when planning their consumption, and greater flexibility and speed in establishing new connections, carrying out disconnections, reconnections, controlling voltage and tariff changes; network automation which allows larger amounts of renewable energy to be taken in safely by the grid; and ensuring the grid is prepared for the new energy services society is calling for, such as recharging facilities for electric vehicles or involving final customers in energy efficiency and demand response initiatives.
All these factors converge in the SmartCity project, which started in 2009 and aims to develop a new energy management model for cities to achieve increased energy efficiency, lower CO2 emissions and increased consumption of renewable energy. Among its goals are analyzing the usage and efficiency data generated and applying the insights gained to other urban areas to upgrade the current energy model to a more sustainable one. The project aims to achieve a 20% saving on energy and reduce annual CO2 emissions by 6,000 tonnes.
SmartCity's budget of Euro 31 million is partly financed by the European Regional Development Fund (ERDF) with backing from the Junta de Andalucia and the Ministry of Science and Innovation's Centre for the Development of Industrial Technology (CDTI for its initials in Spanish).
CONTACT: GreenWave Reality Lance Hoffman (760) 624-8887 lance@greenwavereality.com