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.
3E | April 05, 2021
3E has revealed some details about its current positioning and expanding range of digital solutions. SynaptiQ, the company's digital platform, and its new upcoming applications, Solar Analytics and Wind Analytics (a collaboration with LivLiner), as well as a brand-new UI for the Asset Operations framework, aim to digitalize renewable energy assets. 3E has also unveiled a revised brand image as well as a new website.
Following two decades of continuous innovation and investment in renewable energy, solar and wind are now the most viable and cost-effective options in most parts of the world. Over the next decade, we foresee even more growth, led by increasing energy demand and decreasing supply costs, as well as consolidation of the sector as it matures.
Furthermore, due to tightening regulations, diversifying portfolios, and increasingly strict grid standards, the construction, and maintenance of energy infrastructure are becoming more complicated. Renewable energy consumers, operators, and developers want a long-term technology partner with both local expertise and global reach now more than ever before.
SynaptiQ becomes 3E's innovative digital platform, placing the company's domain expertise and insight at the fingertips of its customers and helping them to plan, create, and operate renewable assets effectively from anywhere in the world.
SynaptiQ integrates all of 3E's SaaS solutions which will help renewable energy projects from concept to completion. It employs artificial intelligence (AI) to centralize and supplement all available data, setting new performance and energy yield goals while dramatically lowering plant costs. It also has an open data and software framework developed by solar and wind experts, which helps to reduce investment costs while maximizing asset efficiency.
Three New Digital Solutions on the Way
In the spring of 2021, 3E will be launching one updated and two new SynaptiQ applications:
• Asset Operations: an application that provides robust features outside monitoring to optimize the operations, performance review, and reporting of the renewable energy portfolio. This solution has been upgraded with a revised user interface.
• Solar Analytics: an AI-based solution for automatic production loss detection and diagnosis, offering insightful feedback and actionable guidance to improve the efficiency of solar assets.
• Wind Analytics – LivLiner Inside: An AI-based solution co-developed by 3E and Livliner for automatic output failure detection and diagnosis, offering forward-looking insights and actionable recommendations to increase wind asset efficiency.
In the coming months, the company will also add more valuable SaaS applications, such as ‘Asset Flexibility' and ‘Yield Analysis.'
The continued development in renewable energy, as well as the popularity of the company's digital solutions, prompted a redesign of 3E's branding and website. The new website will serve as a one-stop-shop for its SaaS offerings and will be expanded as new solutions become available.
GCCIA | December 23, 2021
Gulf Cooperation Council Interconnection Authority (GCCIA) with the support of CESI Middle East FZE, a subsidiary of CESI S.p.A. (Centro Elettrotecnico Sperimentale Italiano), a world-leading technical consulting and engineering company launched the GCC Day Ahead Market (DAM) Pilot Project at the Pavilion of the Gulf Cooperation Council at Expo 2020, in Dubai.
This ambitious project consists in the creation of an electronic platform for the pricing of electricity in GCC countries, as part of the first phase of the energy pricing project in the region. After the go-live, the pilot project is set to last over the course of six months, during which the Member States will be able to gather and leave feedbacks for further implementations in the future.
The GCC DAM Pilot Project is the first of its kind, as it represents a fundamental cornerstone for managing the energy exchange platform launched by the Electricity Interconnection Authority in 2018, an essential contribution to the development of the spot market for electricity trading. The Electricity Interconnection Authority has dedicated a full international team, in collaboration with CESI and ENERWEB, to manage and follow this project.
The GCC DAM Pilot Project aims to be a key-step for the evolution of the roadmap of the regional electricity market. This first phase aims at estimating electricity prices at a regional level and enhancing the expertise and skills on electricity trading topics. Due to the complexity of simulating day-ahead market scenarios, CESI has been involved in the creation of the new platform in terms of both quality assurance and project management support.
This project is a true milestone for the electricity trading in the Gulf area, as it meets the need to implement tools that can support the shift from fossil fuels to renewable electricity sources for GCC countries. I am very proud of CESI involvement in the initiative: for years, we have been developing and using simulation tools for power markets in Europe and supporting traders and market operators, therefore, our expertise and tools can support the ambition of GCCIA, with the goal of modernizing the Gulf region’s energy market.”
Matteo Codazzi, CESI Group CEO