Origami Energy

IMPACT CASE STUDIES

A GREEN ENERGY WORLD, POWERED BY SMART TECHNOLOGY

IMP RATING: C – CONTRIBUTES TO SOLUTIONS CIC has extensive experience of investing in the digital transformation of global energy systems and saw the potential for Origami’s technology platform to lead this transformation in the UK and beyond.

PETER BANCE

CEO

We have applied the Impact Management Project (IMP) framework (see IBC for further details) in summarising the impact of a selection of our investments.

COMPANY DESCRIPTION

As the amount of renewable energy grows, it becomes increasingly critical to balance supply and demand in real-time, both physically and financially. As power markets become more volatile, Origami is providing energy companies with powerful technology solutions to support high-speed, informed decision-making. Origami’s software platform uses AI to ingest a variety of different data streams and provide dynamic decision support to manage renewables more predictably and profitably. Origami’s AI-driven software platform is an end-to-end solution that integrates seamlessly with customer’s existing system and third-party providers.

IMPACT THESIS

The transition to net zero globally will cost up to $100 trillion. Investment in and deployment of AI-driven software technologies that connect physical and financial energy markets will accelerate the energy transition and reduce the associated costs – by replacing physical infrastructure with digital infrastructure. Without Revised/replacement text to be advanced software solutions, the current energy system provided later this weekis ill-equipped to manage the explosion of data and increased volatility that arises when renewables-based generation, for example wind and solar, becomes a dominant share of the overall energy mix. Energy companies that adopt Origami’s software solutions can grow their renewables portfolios more confidently and profitably, harness flexibility and reduce (and eventually fully phase out) fossil fuel-based generation assets. IMPACT SUMMARY Origami provides smart software technology that improves the economics of green energy, enabling energy companies to manage their renewables portfolios more predictably and profitably – which is critical to deploying more renewables and accelerating the transition to net zero. Experts currently estimate that it will cost up to $100 trillion to achieve net zero globally. Real-time digital technologies are an increasingly critical component of connecting physical energy assets together and to financial markets. Today’s addressable market for realtime energy optimisation software is estimated to be >£4bn/year and growing rapidly. Origami is a pioneer in this part of the market. The contribution of smart software technology to manage renewables-based energy generation and battery storage is critical to tipping the balance to clean energy adoption and a large-scale phase out of fossil fuel-based alternatives. Without technology like Origami’s, power systems and grid infrastructure struggle with increased volatility when renewable generation, for example wind and solar, surpasses a certain threshold of the overall energy mix (usually around 30%) due to the distributed and intermittent nature of renewables generation. The ability to visualise and dynamically manage, in realtime, distributed, multi-asset portfolios (for example, wind, solar, thermal and battery storage) reduces uncertainty and volatility, and reduces the amount of thermal back-up generation capacity needed to ensure grid stability and prevent service interruption. Estimates show that fully harnessing flexible capacity in the UK alone – by using real-time automation and optimisation technologies like Origami’s – could save >5Mt of CO2 per annum by 2030. Origami expects to capture at least 20% of the UK market and scale globally throughout Europe, North America and parts of Asia. All participants will benefit from the success and greater roll-out of Origami’s software. For energy companies, the benefits include less financial risk from investing in clean energy portfolios and greater returns. For the grid, it means more predictable and flexible volumes and greater resiliency. For end customers, it means lower cost, clean energy powering businesses and homes.