Summary
Spanish company focused in digital optimization solutions based in AI/machine learning technologies oriented to alternative energy predictive solutions, seeks for alternative energy innovation agents willing to ameliorate their production or commercialization units co-developing new predictive solutions under r&d or commercial with technical assistance agreements.
Description
The Madrid based Spanish company, has recently initiated its activities. Founded by applied mathematics experienced researchers at Madrid Polytechnic University UPM and Universidad Complutense de Madrid, UCM, the company has already developed a set of renewable energy prediction solutions, which have proven to provide optimal results for its clients. The company’s solutions are based in new applications of convolutional neural networks and machine learning developments regarding numerical weather prediction models and processes considered for renewable energy production and distribution systems.
Alternative energy systems, data driven innovations are closely related to energy production and price forecasting, as this critical key data based processes directly links with business value. Accurate forecasting is becoming a pivotal issue to ensure effective management. Integration, analysis and security of this strategic data process under an optimal workflow is turning into an essential differentiation activity among companies (distribution system operators, transmission operators…) in the sector.
System predictions often rely on diverse data sources, including meteorological data, energy consumption patterns, grid performance data, and more; depending on the forecasting period, the algorithms and methodology chosen, the generation forecast accuracy will vary. Energy generation is closely related to energy pricing in modern energy markets, this way, the costs of over- or under contracting and then selling or buying power in the balancing markets often leads to impactful financial gain or losses.
Innovations regarding new AI based decision tools capable to provide reliable forecasts take time to be developed. The company process has taken four years of research, design and prototyping before their solutions/predictors have been brought into the market. Milestones and stages were done in collaboration with the Spanish electrical grid Transmission system operators (TSO) Red Eléctrica Española, (REE). Company predictors have been tested with real data and have proven to beat the best available predictors in the market. The technology is nowadays fully customized and in used at REE.
Partners for their technology are sought within the renewable energy industry sector. Agents as wind and solar farm managers, large vertically integrated companies as well as energy traders, asset managers or network operators; willing to ameliorate the output and results of their installations, systems or operations; through innovative solutions or new co-developments are sought to collaborate under r&d or commercial with technical assistance agreements.