Exelon - Enterprise Tech Ecosystem Series

Exelon - Enterprise Tech Ecosystem Series

Summary

Exelon Corporation (Exelon) is a utility services holding firm. It has operations across complete energy value chain, including energy sales, power generation, and distribution and transmission. The company produces electricity using nuclear, natural gas, oil, wind, hydro, solar, and biomass sources; and purchases electricity through long-term power purchase contracts. Exelon also provides energy products and services to the residential, public sector, and business customers in the U.S. and Canada. The company supplies electricity and natural gas to industrial, residential public authorities, commercial and electric railroads, and other customers across Maryland, Illinois, Delaware, Virginia, District of Columbia,, New Jersey, and Philadelphia.

In 2019, Exelon and its foundation launched a 2c2i to invest in startups that are working on generating clean energy and next-generation energy grid, utilizing innovative technologies. The seed-stage environmental technology startups with their major focus on Exelon’s Philadelphia, Atlantic City, Chicago, Washington DC, Baltimore, and Wilmington, Delaware urban markets and has the potential of developing solutions towards driving resiliency of urban infrastructure against environmental hazards and reducing greenhouse effect will be selected. The startups get funding along with access to mentoring and other sources of capital, and Exelon’s internal innovation programs such as Exelorate Growth, Constellation Technology Ventures, and Partnership R&D.

In 2014, Exelon in collaboration with Reboot Partners introduced another edition of its Dancing with Startups initiative to identify new technologies and speed up innovation and growth in the energy sector. It’s a two-day event that connects companies with multiple technology startups focused in the areas of 3D printing, IoT, robotics, battery, media services, big data and cybersecurity, cleantech/energy efficiency sectors, and builds their network.

TechEXChange is a multi-tiered evaluation platform, which combines a group of teams across the company. It is majorly focused on early-stage technologies such as fuel cells, vehicles powered by alternative fuels, and battery storage to explore the emerging technologies that can transform the energy industry and can drive value for its customers. For every new idea and project, 60-person custom project teams are assembled. Team members are chosen across the Exelon family as per their expertise. Further, the team collaborates with outside experts like government and industry associations, venture capital, technology firms, and private equity organizations to find gaps and evaluating each technology.

In 2018, Exelon subsidiary ComEd launched a Grid of the Future Lab within its Chicago center to refine and establish cutting-edge technologies such as microgrid master controller, supporting resilience and sustainability. The lab is designed with advanced technologies to further demonstrate the microgrid integrated solar storage technology (MISST), to support the testing needs of multiple departments.

Exelon introduced Innovation Expo, an annual event launched in 2013, to connect experts from inside and outside the company to generate new ideas and discover new technologies and innovations to solve complex business problems and improve their business efficiency. Every year, the event is launched with a different technological theme such as big data, IoT, cloud, drones, and mobile. Multiple technology companies participate in the event to showcase their ideas, system, or product and the top three winners get a chance to pitch their ideas in front of Exelon’s executives.

Exelon Utilities introduced an Analytics Academy in collaboration with Coursera to empower its employees with personalized analytical learning and help them to make data-driven decisions. The academy has three phases: awareness, adoption, and learning and focuses on leadership, talent, and learning to deliver the digital learning experience for users and community for setting up Data & Analytics CoP and external networks.

This report provides insight into Exelon's digital strategies, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope

• AI and data analytics: Exelon is placing AI and data analytics at the center of its approach to analyze data from internal and external data sources and generate real-time insights to predict failures, improve equipment performance, optimize schedule maintenance, minimize operating costs for utilities and respond to storm-related outages. For instance, the company introduced an in-house Analytics Academy to teach emerging analytics skills to its employees. It also collaborated with GE for network analysis to get real-time insights about maintenance time and sudden outages and to improve storm readiness. It analyses data assets and develop analytical products to enhance operational efficiencies and deliver better customer experience. As a part of the Utilities Analytics’ AMI analytics program, the company implemented Itron’s analytics tool, Operations Optimizer in 2021, to centralize data from its multiple platforms to optimize its business processes.
• As part of its 2030 electrification plan, Exelon focusing on customer awareness, up-front costs, technology and infrastructure, and to optimize energy consumption to cater to changing energy landscape. It is planning to electrify 30% of utility vehicle fleet by 2025 and 50% by 2030, which in turn helps in minimizing greenhouse gas emissions and saving fuel. With a fleet of more than 7,200 vehicles and six electric and gas utilities, it advances transportation electrification to benefit consumers. Exelon has invested in multiple EV firms including XL Fleet, Nissan, Proterra, and ChargePoint to enable electric vehicles and EV charging to replace traditional fossil fuels and save energy.
• To revive business prospects in COVID, Exelon is strengthening its digital culture through key technology hires, innovation programs, and digitizing its workspace. They hired chief information and chief digital officer for developing digital strategies, and support of IT systems, and drive growth. Exelon is also focusing on developing competitive capabilities by integrating multiple innovations programs. For instance, the firm has introduced the Corporate Strategy, Innovation, and Sustainability group to enhance its internal culture of innovation.

• Gain insights into Exelon's tech operations.
• Gain insights into its digital strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, and acquisition strategies.