Arenko Group, a leading battery software services provider to the multi-billion-dollar global battery automation market, is pleased to announce the launch of its European Power Exchange (“EPEX”) trading module. This marks the expansion of its platform capabilities from the physical balancing mechanism market, frequency response and other ancillary services to include the intraday EPEX power trading market.
Arenko’s platform is understood to be the first to provide full autonomous optimisation of a battery’s positioning, seamlessly stacking EPEX and Balancing Mechanism revenue sources to incrementally improve the trading performance from the asset. This new revenue stream adds a significant additional source of cashflows for battery owners in the UK and is the first of several additional services modules that Arenko plans to deploy over the coming year.
With Arenko’s platform being a fully autonomous system, it allows battery asset owners to diversify their revenue streams and increase the ultimate return on investment of their assets without incurring incremental costs whilst operating on a 24/7 basis.
Following a highly successful soft launch on Arenko’s 41MW grid scale battery asset in April 2020, this new module has proven a material value uplift for the battery system and confirmed Arenko’s expectations about deploying the battery’s capacity across multiple markets at the same time, using its sophisticated automation technology. Arenko now intends to roll out this software module and unlock additional value from concurrently delivering these markets for its current and new battery customers.
Over the last 12 months, assets operating through Arenko’s platform have made over double the return of the nearest competitor batteries on a like for like basis in the balancing mechanism as well as delivering frequency response and other ancillary services. Today we announce that we have added intraday EPEX to our fully automated services. This top tier performance is being expanded into more markets for our customers, increasing revenue flexibility and performance for flexibile assets. All of which is enabled by the innovative software architecture and AI that Arenko has developed.
Rupert Newland, Founder and CEO of Arenko Group, said:
“We are pleased to have launched this service, which is the first of several additional services modules that Arenko plans to deploy over the coming year. We will continue to innovate to help battery asset owners maximise their performance and increase their return on investment.”