Active Impact Investments Profiles BluWave-ai as Company of the Month
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Active Impact Investments Profiles BluWave-ai as Company of the Month
From Active Impact Investment's November 2019 Newsletter
November 2019
Company of The Month
Did you know? In the electricity utility industry, millions of tonnes of CO2 emissions are created needlessly. Fluctuations in energy generation and demand often result in over-production when demand is unexpectedly low and costly last-minute purchases during times of peak demand. Utilities take a best guess at load requirements and produce or purchase as close to requirements as possible. With renewable resources such as wind and solar, this is an even bigger headache since renewables are inherently unpredictable.
One company that impressed us with their approach to this problem is BluWave-ai, an Ottawa-based SaaS platform that uses AI and real time networking to significantly increase the ability to accurately predict and optimize renewable power usage. Their decentralized model combines data from utility IoT sensors, integrated global weather feeds and historical information to predict renewable energy generation as well as customer energy needs.
All this happens in real-time to minimize fossil fuel usage in the traditional energy grid and to fine tune utility storage operations without human intervention.
For example, The City of Summerside in PEI has seen a 50% improvement in energy scheduling accuracy over its system baseline. With BluWave-ai deployed, they are achieving an annualized average CO2e emission reduction of 4100 tonnes. That amount is equivalent to driving a passenger vehicle more than 10,000,000 miles or the amount of carbon sequestered by planting almost 68,000 tree seedlings after 10 years of growth.
BluWave-ai won the Smart Grid start-up category at the 2019 World Energy Congress and completed the first ever AI-enabled real-time energy dispatch in a Canadian utility. They will soon be raising money for their Series A and are looking for investors interested in joining them to build the world’s premium renewable energy AI company and accelerate the energy transition for the planet.
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