KevinLAB | Top Startup in Korea-2023

Startup City

KevinLAB
Delivering Impactful Energy Management System Solutions

Kim Kyung-Hak, CEO, KevinLABKim Kyung-Hak, CEO
Delivering innovative IoT solutions powered by numerous sensors and terabytes of cloud-based energy consumption information, KevinLAB is a prominent player that helps residential and commercial facilities regulate their energy usage.

The SaaS-based service provider offers an AIoT-driven management system that boosts economic feasibility and energy efficiencies, creating an accessible option for clients to achieve better energy usage. Its platform includes a mosaic comprising solutions like the innovative building energy management system (L-BEMS), AI-backed home energy management system (AI-HEMS), smart factories energy management system (FEMS), renewable energy integrated monitoring system (REMS), and a total operation center (TOC). These solutions unify different energy management systems on a single platform that can be easily modularized and personalized into widgets to align with diverse client needs.

KevinLAB’s secure cloud service platform connects users with energy-saving measures through real-time data monitoring capabilities that analyze consumption patterns, detect anomalies, and provide AI-driven predictions, creating a new business model to oversee an infrastructure’s performance. Its accumulated big datasets also enable the creation of an optimal customized billing system to provide clients with an overview of their energy charges.

To substantiate its energy-saving initiatives, KevinLAB offers an energy membership program dubbed 4ST Store, including demand response (DR) points, credits, coupons, and fee redemptions, which rewards users that employ less energy.

“We unify everything, from hardware to cloud servers, to extract and display accurate energy data before analyzing it to enable maximum return from minimum investments,” says Kim Kyung-Hak, CEO of KevinLAB.

From a hardware standpoint, KevinLAB provides devices like its low-power wide area (LPWA) network, remote terminal unit (RTU), and electronic infrastructure smart kit (ELIS).

The LPWA device is an IoT communication device with three models, Client, Repeater, and Gateway, dedicated to home residents, building administrators, facilitators, and plant owners. The Client model is attached to a digital meter to extract and share data with the Gateway or Repeater installed in an administrator’s office, allowing easy access to datasets stored on the cloud. Alternatively, in cases where the Client and Gateway devices are at distant locations, the Repeater works as an extension for reliable data transmissions.

Like its LPWA device, KevinLAB’s RTU is a communication device that attaches to inverters and enables remote monitoring through web and mobile display. Meanwhile, the firm’s smart multi-channel meter, ELIS, connects to an electrical current transformer (CT) to display real-time current data at every CT, driving significant cost savings. It has two models, ELIS KV0012-G and ELIS KV0054, which provide 12 and 54 channels, respectively.

We unify everything, from hardware to cloud servers, to extract and display accurate energy data, before analyzing it to enable maximum return from minimum investments

Driven by its robust big data analysis and data management competencies, KevinLAB has provided EMS platforms to over 2,000 residential and non-residential buildings and 210,000 households and homes across Korea, reducing the nation’s energy consumption by up to 34 percent. Even in winter, when most buildings consume relatively higher energy, KevinLAB delivers up to 19 percent savings. From a global standpoint, it recently completed a proof of concept (POC) in Serbia to export 50 AIoT platform units, which subsequently assisted its East European clientele in effectively decreasing their energy consumption by up to 20 percent per unit. Essentially, the total cost of deploying KevinLAB’s platform is 80 percent lesser than the current market standard.

Successes like this perfectly exemplify the value KevinLAB brings to developing countries through its affordable solutions suite proven to enable better energy consumption regulation.

Serving customers from Europe and Southeast Asia, KevinLAB plans to extend its solutions to the U.S. Its goal is to develop a new business model using the accumulated consumption analysis, DR, and time of use data for peer-to-peer trading.

Moving forward, KevinLAB will expand its platform’s language setting from Korean and English to multiple languages, boosting the accessibility of its solutions across global customers.

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Top 10 Startups in Korea - 2023

Company
KevinLAB

Management
Kim Kyung-Hak, CEO

Description
Based in Korea, KevinLAB strives to provide solutions by developing core energy management platform solutions and devices that aim to solve urban problems like energy management, environmental and housing problems through IoT, cloud, big data, AI and digital applications.