Veritone Extends Technology Lead In Renewable Energy Optimization With Latest Patents

Veritone, Inc., the maker of the world's initially working framework for man-made brainpower, aiWARE™, today declared that it has gotten three new licenses for its battery control innovation, bringing the all out number of gave licenses covering its Veritone Energy Solutions to 13, with another 16 patent applications forthcoming.

The new licensed advances empower dynamic, ongoing synchronization and control of batteries to guarantee ideal force circulation and battery life, assisting with empowering a solid, cost-effective environmentally friendly power energy network. The advancements enable utilities, free specialist co-ops and battery suppliers with earth shattering approaches to address the genuine Distributed Energy Resource (DER) coordination difficulties of suboptimal battery activity, overheating and disappointments that present security concerns and cost organizations millions in hardware harm every year.

“As the world transitions to renewable energy, whether it be wind, solar, or hydroelectric, the unpredictable nature of these green energy sources and the resulting energy supply and demand imbalances must be resolved if we are to achieve our green energy goals,” said Chad Steelberg, CEO of Veritone. “While deploying batteries to provide energy storage and smoothing seems like an obvious and simple solution, the technical hurdles to accomplish it at scale in the real-world are challenging. AI-based battery control and synchronization is necessary, now more than ever. Veritone has developed proprietary machine learning algorithms, now protected by several U.S. patents, to meet this pressing need.”

These battery control patents complement Veritone’s patented AI-based energy solutions for predictive real-time control, management and adaptation of smart grids. By applying advanced models, rules and learning to weather forecast, energy demand, pricing, and device data, Veritone Energy Solutions help utilities automatically predict optimal energy supply mix and pricing to meet grid demand, in real-time.

“Other battery control solutions rely on day-ahead forecasting and steady state battery operation, which are not realistic in today’s distributed, unpredictable clean energy grids,” said Dr. Wolf Kohn, Chief Data Scientist at Veritone. “Our battery control technology, represented in the three new patents we have been granted, is unique in that it is based on real-time AI that predicts energy supply and demand minutes ahead, instead of days, and is based on the dynamic conditions of the battery and the operating environment at any given time.”

“Veritone’s dynamic battery control and synchronization technology helps independent service providers and battery providers optimize battery operation, reduce power dissipation and prolong battery life,” said Adje Mensah whose firm A.F. Mensah, Inc. develops and operates solar and battery storage projects. “With its innovative intelligent battery management technology, Veritone’s ability to leverage massive amounts of historical and real-time data to balance energy supply and demand is unique in the market, and truly transformative when it comes to solar forecasting and optimal dispatch for battery farms and microgrids.”

Veritone Energy’s Solutions include: Forecaster, which accurately detects and predicts energy supply, demand and price; Optimizer, which makes AI-based energy supply determinations; Controller, for predictive device control and active synchronization, combining energy sources to optimally satisfy demand; and Arbitrage, for buying, selling and dispatching energy. Veritone aiWARE, the leading cognitive operating system, provides deployment, integration, data services and weather services to these solution components. Veritone Energy’s highly customizable solutions can be applied to solve a wide range of challenges facing the industry, including solar smoothing, demand response, micro-grid synchronization, intelligent device control, voltage optimization, regulatory compliance, dispatch optimization and high-speed energy arbitrage. Its highly-differentiated solutions are covered by 13 patents issued in the United States and other countries, with an additional 16 applications pending.



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Greenwood Sustainable Infrastructure (GSI)-Led Joint Initiative with Ocean Man First Nation to Build One of the Largest Solar Projects in Canada

PR Newswire | January 25, 2024

Greenwood Sustainable Infrastructure LLC (GSI), one of the renewable energy subsidiaries of Libra Group, announced that Iyuhána Solar (Iyuhána), a GSI-led partnership with Saturn Power Inc. and Ocean Man First Nation, has been awarded a Power Purchase Agreement (PPA) to construct and operate a 100-megawatt (MWac) utility-scale solar facility in Saskatchewan, Canada. Developed in partnership with Ocean Man First Nation, the project will be one of Canada's top 10 solar facilities by size. Under an exclusive PPA, the largest with a utility in Canada since 2015, Iyuhána plans to invest approximately $200 million (CDN) to construct the solar facility, which it will operate, supplying generated power to the principal municipal utility company, SaskPower, for 25 years. Located in the Rural Municipality of Estevan in southeast Saskatchewan, this emissions-free solar facility will produce enough power for the equivalent of approximately 25,000 homes. "We are proud to bring the transformative power of solar energy to Saskatchewan by working with partners such as Ocean Man First Nation," said Mazen Turk, CEO of GSI. "This unique collaboration shows the power of renewable energy to harness resources and empower communities responsibly. This work is core to our ethos as a Libra company, and we look forward to continuing to help support a clean energy future across Canada and beyond." As a founding partner, Ocean Man First Nation will have an ownership stake in Iyuhána Solar. Band members will also receive specialized training to maintain the solar facilities and employment opportunities with the project. Additionally, partnering with two of Saskatchewan's leading post-secondary academic institutions, Iyuhána will provide scholarships, internships, and direct research projects in clean energy to benefit the community. "Our partnership with GSI and SaskPower will bring great opportunities for Ocean Man First Nation, including employment and revenue that will provide stability and sustainability for our Band," said Chief Connie Big Eagle, Ocean Man First Nation. "We are proud that this project, which is able to generate clean power, will be known as Iyuhána Solar, which, in Nakotah translates to 'everyone' or 'all of us.' This is derived from our Nakotah belief that everyone and everything is related and therefore we must care for each other." While investment in renewable energy grows across Canada, Saskatchewan's clean power supply mix has predominantly consisted of hydro and wind. This is the first of many planned solar projects in the province; by 2035, SaskPower plans to support approximately 3000 MW of new renewable energy capacity in the region. "This new solar facility will play an important role in our path to net-zero by 2050 or sooner," said Rupen Pandya, SaskPower President and CEO. "We are proud of our ongoing collaboration with Indigenous peoples and the critical role they are playing in the successful expansion of renewable energy in our province." GSI is one of four renewable energy subsidiaries of Libra Group, a privately owned, global business group that encompasses 20 businesses in six sectors, including renewable energy, maritime, aerospace and more. The Group's renewable energy portfolio encompasses approximately 3.5 gigawatts (GW) of projects owned, developed, or pending development in 10 countries, including solar, wind, battery storage, and waste-to energy projects. This is the second partnership with an indigenous community led by a Libra Group subsidiary. "Libra Group is proud of this novel partnership, which has come together through shared values and a commitment to driving economic growth and positive outcomes for communities," said Libra Group's CEO Manos Kouligkas. "Sustainability is core to our global business, and we look forward to continuing to leverage synergies across our six sectors in 60 countries with agility and impact." Last year, GSI acquired Saturn Power Inc.'s solar and battery development portfolios, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early- to late-stage solar and energy storage projects. Today, GSI has a footprint across Canada and in 12 U.S. states. About Greenwood Sustainable Infrastructure Greenwood Sustainable Infrastructure (GSI) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction, and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of January 2024, the company developed approximately 388 MW DC across 71 renewable energy projects, many of which are still owned or operated by GSI and have an additional project pipeline of 1.6 GW. GSI's seasoned team has a proven track record of investing in power assets and partnering with multiple top-tiered investors. For more information on Greenwood Sustainable Infrastructure (GSI), visit: About Ocean Man First Nation The Ocean Man First Nation is a Nakota, Cree, and Saulteaux Band Government in southeast Saskatchewan. OMFN is led by Chief Connie Big Eagle & Council and features a population of 565 members. Ocean Man First Nation created a renewable energy company in 2019 called Second Wind Power. The name Second Wind Power reflects Ocean Man First Nation's history of relocating, re-establishing and starting over as a new community since 1989. About Libra Group Libra Group is a privately owned, global business group encompassing 20 businesses predominately focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified investments. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale.

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