SUSTAINABILITY

Veritone Extends Technology Lead In Renewable Energy Optimization With Latest Patents

November 20, 2020

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.

Spotlight

Solar PV is edging beyond the Power Purchase Agreement (PPA) platform and into the merchant market as the driver for growth. Historically, PV project development has been driven by utilities issuing PPAs to meet mandated state renewable requirements. However, many states are already hitting or on track to meet their Renewable Portfolio Standard (RPS) targets. In addition, steep declines in solar capital costs and technology improvements have affected PV power economics and PPA pricing significantly.


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SOLAR+STORAGE

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ENERGY

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MARKET RESEARCH

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ENERGY

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Spotlight

Solar PV is edging beyond the Power Purchase Agreement (PPA) platform and into the merchant market as the driver for growth. Historically, PV project development has been driven by utilities issuing PPAs to meet mandated state renewable requirements. However, many states are already hitting or on track to meet their Renewable Portfolio Standard (RPS) targets. In addition, steep declines in solar capital costs and technology improvements have affected PV power economics and PPA pricing significantly.

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