503% Gain From 52W Low: Servotech Files 2 Patents For Energy Management Technologies

In order to optimise grid service through a battery energy storage system and to efficiently channel renewable energy into BESS for maximum value, Servotech Power Systems, a leading producer of EV chargers and solar solutions, announced on Monday that it filed two patents for new energy management technologies. This will enable the transition to sustainable energy. These developments will revolutionise energy management and enhance overall efficiency, according to the company.

The first patent, "System and Method for Controlling Load Shifting by Third Party," deals with a system and method that lets third-party entities manage load shifting in a battery energy storage system (BESS). The technology enables third-party organisations to maximise the utilisation of BESS assets for grid services, such as utilities or aggregators.

A system and method for efficiently channelling energy from a renewable energy source, such as solar or wind, into a BESS is outlined in the second patent, which is named "System and Method for Effective Energy Channelization from a Renewable Energy Source." By ensuring that renewable energy is stored in the BESS during its most beneficial time, the system maximises the usage of renewable energy.

Both of these cutting-edge technologies have applications in a variety of industries, including as solar energy and electric car charging stations.

"We are thrilled to unveil the submission of these two patents. These technologies epitomize significant advancements in the realm of energy management, poised to be pivotal in making a significant contribution toward a cleaner and more sustainable energy future. Most importantly, these patents reflect our commitment to driving sustainable energy practices and showcase our dedication to innovation", said Arun Handa, Chief Technology Officer at Servotech Power Systems Ltd.

The development of cutting-edge rectifier units for CCS2 chargers and onboard EV chargers for 2, 3, and 4-wheelers will be a joint effort between Servotech Power Systems Ltd. (SPSL) and IIT Roorkee, according to two memorandums of understanding (MOUs) signed last week. This alliance will support the growth of the domestic EV industry and improve the nation's manufacturing capabilities.

An NSE-listed company Servotech Power Systems manufactures tech-enabled EV Charging solutions by utilising more than 20 years of experience and knowledge in the field of electronics. It offers a wide variety of AC and DC chargers that are appropriate for various EVs and can be used for both home and commercial purposes.

On Monday, the shares of Servotech Power Systems were trading on the NSE at Rs 75.70 apiece. The scrip made a 52-week-high of Rs 100.00 on (21-June-2023) and a 52-week-low of Rs 12.55 on (24-Nov-2022), indicating that at the current market price, the stock has gained over 503% from its 1-year low and trading at a discount of 24.30% from its 1 year high.