BluWave-ai Wins Smart Grid Start-Up Category at 24th World Energy Congress
Wins Category Pitch Competition, Top 10 Company Globally from SET100
ABU DHABI & OTTAWA – September 24, 2019
BluWave-ai has won the Smart Grid category at the pitch finals during the 24th Annual World Energy Congress held in Abu Dhabi from September 9-12th. BluWave-ai came to the congress as a SET100 company. The Start-Up Energy Transition (SET) is sponsored by the German Energy Agency (DENA). SET has approximately 1000 applicants worldwide with BluWave-ai making the SET100 this year. From the 2019 SET100 Awards, BluWave-ai was invited to the World Energy Congress in Abu Dhabi to share BluWave-ai innovation with global utility customers and Climate Change oriented impact investors.
The company has taken on a $6M renewable energy global smart grid project that launched on August 28 featuring Canadian utilities Hydro Ottawa and Summerside Electric, and TATA Power from Mumbai, India. The project is funded by an international consortium of private capital and institutional investors such as Ecofuel. BluWave-ai recently has also been was awarded a $2.4M grant from the Canadian Government through Sustainable Development Technology Canada (SDTC).
“We are thoroughly impressed with the innovation displayed from this highly driven Canadian Company, BluWave-ai’s work in the smart grid field will revolutionize the energy industry,” said Andreas Kuhlmann CEO of DENA, “ We are particularly excited that BluWave-ai has been able to leverage their SET100 award from April to close another $4M of private and public investment.”
“Invest Ottawa is very proud to support BluWave-ai’s global ambition to become the world’s premier renewable energy AI company”, said Michael Tremblay, CEO of Invest Ottawa. “They have stand out technology and strong, tenured leadership as illustrated by winning the prestigious Smart Grid category award”.
“We are excited that BluWave-ai, that went through our accelerator program, has emerged at the top of the smart grid category at this year’s World Energy Congress providing a springboard to commercially scale the company internationally” said Richard Cloutier, Managing Director of the Ecofuel Fund, moreover, “the Ecofuel Fund anticipates its invested companies to emerge as the next generation of sustainability world champions.”
“It is an honour to emerge among our innovative peer SET100 companies as the winner of the smart grid category at WEC24,” said Devasish Paul, CEO of BluWave-ai, “We hope to take this win to expand our customer and investor partnerships in the energy industry to advance our company scale-out internationally.”
BluWave-ai’s SaaS-based platform, leveraging a cloud-based, grid-edge distributed architecture, resolves the intermittency problem with renewable sources like wind and solar through reliable energy prediction, optimization, and control at both microgrid and utility scale. The company has filed four USPTO patents which currently represents 5% of the global 2018 artificial intelligence (AI) patents of Canadian origin.
BluWave-ai uses artificial intelligence to accelerate the adoption and use of renewable energy sources by communities, corporations, and utilities. Our machine learning platform balances the cost, availability, and reliability of different energy sources - renewable and non-renewable - with energy demand in real-time. This lets utilities, enterprises, remote communities, and governments optimize their energy decisions for sustainability, reliability, and affordability. BluWave-ai is pleased to work with innovators in the energy industry including Tata Power, Hydro Ottawa, Summerside, and Natural Resources Canada to realize a greener, more sustainable grid for all.
Contact for BluWave-ai