Woodlands-based Lancium hopes to build out what the Electric Reliability Council of Texas...
Bitcoin mining machines in the development area of Lancium on Monday, Nov. 14, 2022 in Houston. The Houston-based company will launch its platform this week that will allow bitcoin mining operations and data center to ramp down their power usage automatically to respond to tight grid conditionsMichael McNamara admits that his pitch for Texas’ troubled electric grid sounds counterintuitive.
Woodlands-based Lancium, founded in 2017, hopes to build out what the Electric Reliability Council of Texas calls “controllable load resources,” or large demand centers that can ramp up or down their power usage within seconds when directed to by the nonprofit grid manager or in reaction to real-time conditions on the grid.
Raymond Cline, who helped co-found Lancium with McNamara, said that large demand can almost act like a peaker plant when grid conditions are tight, thanks to its quick ability to turn on or off. A peaker plant is generation that comes online to help meet peak demand. The wholesale price of electricity in those regions can dip into negative territory when renewable energy sources are overproducing because there isn’t enough transmission capacity to transport their power to demand centers such as Houston, San Antonio and Dallas. That has led to wasted electricity and some pause developers to build more wind and solar farms.
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