Veritone | December 07, 2021
Veritone, Inc., creator of aiWARE, a hyper-expansive enterprise AI platform, announced that it has joined the Smart Electric Power Alliance (SEPA) and the Utility Analytics Institute (UAI), leading industry organizations focused on the transformation of utilities. As a member, Veritone will add its strong AI leadership and deep machine learning expertise to help utility decision-makers solve complex challenges resulting from the rise of renewable energy sources, new legislation, climate change, and the global push towards decarbonization.
Like many other industries, utilities’ decision-makers and organizations like SEPA and UAI recognize the game-changing capabilities of AI, machine learning, automation, and analytics. Particularly with the Federal Energy Regulatory Commission’s (FERC) Order No. 2222 fostering competition in the wholesale energy market taking effect February 2022, there is no better time than now for Veritone to join these forward-thinking organizations. With our AI-driven energy solutions, together, we can fast-track our collective mission to make power delivery greener, cheaper, and more reliable as the nation transitions to a decarbonized future.
Sean McEvoy, SVP, Energy Solutions, Veritone.
Globally, we are going through an energy transition, shifting from fossil-based energy production and consumption systems to renewable energy sources. Unreliable green energy sources, new forms of energy storage and energy supply, and demand imbalances, however, may impact customer satisfaction and company profitability. And with such exponential growth in power system complexity, utilities will find it increasingly challenging to maintain day-to-day reliability, as well as resilience to many types of grid disruptions.
Veritone’s AI-powered energy solutions—built on its proven, open and future-proof aiWARE platform— help utilities and independent power producers increase reliability, decrease operational costs, and reduce carbon footprint by accurately predicting, synchronizing, optimizing, and controlling integrated distributed energy resources. Using a reinforcement learning approach, Veritone's modules continuously adapt and auto-retrain to make optimal decisions, even with a high number of possible constraints. System and hardware agnostic, Veritone offers its energy solutions on-premise, in a hosted environment, or as a service to give its customers the ultimate flexibility without sacrificing performance.
Veritone is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.
The Smart Electric Power Alliance (SEPA) is dedicated to helping electric power stakeholders address the most pressing issues they encounter as they pursue the transition to a clean and modern electric future and a carbon-free energy system by 2050. We are a trusted partner providing education, research, standards, and collaboration to help utilities, electric customers, and other industry players across three pathways: Electrification, Grid Integration, Regulatory and Business Innovation. Through educational activities, working groups, peer-to-peer engagements and advisory services, SEPA convenes interested parties to facilitate information exchange and knowledge transfer to offer the highest value for our members and partner organizations.
About Utility Analytics Institute
Utility Analytics Institute (UAI) enables utility transformation through analytics. Transforming into a data decision-based company is one of the most difficult transitions a utility will have to make to thrive in the new energy economy. It’s more than just managing massive amounts of data, implementing the right tools and technology, and people and process management. It’s ensuring you have proper change management processes in place to address cultural challenges, as well as data management and governance plans, and best practice and compliant security strategies in place. It’s implementing the best organizational structure for your utility, and hiring and retaining talented staff, plus so much more! UAI brings together the leading utilities who are serious about tackling these challenges and together we concentrate on utility analytics.
Smart energy | May 27, 2020
The California Energy Commission (CEC) has awarded a $9 million grant to the Energy Coalition, Community Electricity, and a consortium of energy partners to support disadvantaged communities in Los Angeles through the implementation of innovative technologies. The CEC is providing the grant through its Electric Programme Investment Charge (EPIC) Programme, which supports clean energy research in California. The Basset-Avocado Advanced Energy Community (BAAEC) project is expected to give rise to the perfect formula to design a feasible community-scale decarbonisation strategy.
Smart Energy | April 08, 2020
The Netherlands-based holding company of multinational retailer IKEA, the Ingka Group, has acquired a 49% share in two US solar photovoltaic (PV) projects with a combined capacity of 403MW, bolstering the company’s transition to renewable energy. In September 2019 group subsidiary Ingka Investments reached an agreement with Copenhagen Infrastructure Partners (CIP) to acquire 49% stake in the two projects, taking over the Utah solar PV project on 31 December 2019, and the Texas project on 31 March. With new investments set to continue and with further acquisitions planned in the US, the group is working towards its target for production to exceed consumption. IKEA plans to transition to 100% renewable energy across global operations and achieve climate positive status by 2025. With a presence in 30 countries worldwide, the company says it will focus on renewable energy generation both on-site, as well as via utility-scale renewable project acquisitions.