Recording of Thursday, June 20, 2024 | The smarter E Europe Exhibition Program 2024 | Exhibition Program | Language: English | Duration: 8:52 .
Economics was founded five years ago by two individuals who recognized the shift towards electric vehicles and the potential for reusing EV batteries post their primary life. These batteries, even after several years of use in cars, still retain 80-85% of their health. Instead of discarding them, Economics saw an opportunity to repurpose these for energy storage applications. They developed a marketplace where buyers and sellers could trade used batteries and integrated robust analytics into this platform. The marketplace includes comprehensive features like documentation uploads (data sheets, certifications), logistics integration which provides shipping estimates, and various battery types from different sources such as OEMs with surplus stock or direct purchases from manufacturers. In addition to creating a trading platform, Economics focuses on data-driven analytics to assess battery health and predict future performance using first-life data from Battery Management Systems (BMS). This allows users to make informed decisions about purchasing used versus new batteries based on lifecycle costs per cycle. Their services also extend into predictive maintenance by monitoring environmental factors that affect battery life in storage systems. Clients can access detailed dashboards displaying key performance indicators (KPIs), time series analysis for deeper insights into BMS-generated data, anomaly detection alerts for unusual conditions like temperature spikes/drops, and state-of-health simulations predicting when thresholds will be crossed. Economics operates predominantly within Amazon Web Services but is flexible with other cloud providers if required. They offer Software as a Service (SaaS) solutions ensuring clients’ data privacy while being CatenaX compliant—an automotive industry standard association they are part of alongside other memberships aimed at promoting expertise sharing within the sector.
Automated summarization by AI Conver
This session geared toward energy storage manufacturers will be full of valuable insights on the topic of battery diagnostics. It will be led In cooperation with VDMA, and PEM of RWTH Aachen.