BluWave-ai Recognized as One of the Top 100 Startups Working on Global Energy Transition
Company Nabs Prestigious Startup Energy Transition (SET) Award
OTTAWA, Canada & BERLIN, Germany – April 8, 2019
BluWave-ai is honoured to be recognized by Startup Energy Transition (SET) as a Top 100 finalist in the Intelligent Grids category, the only North American company to receive this prestigious designation. The Ottawa, Canada based company, which already has deployments on three continents and is working with such energy innovators as Tata Power, Hydro Ottawa, and Natural Resources Canada, will be meeting with prospective clients and investors in the Canadian Pavilion at Tuesday’s TechFestival in Berlin, sponsored by SET.
BluWave-ai’s grid energy optimization platform balances the cost, availability, and reliability of different energy sources - renewable and non-renewable - with energy demand in real-time. The company is focused on supporting distribution utility, enterprise, mining, campus, net zero community, and remote/off-grid clients.
A recent study from McKinsey forecast that renewables will be the dominant source of global energy by 2035 and Europe is leading the charge with strong renewables adoption. “The European market is a priority for us. With higher energy costs than are typical in North America and a strong renewables mandate, performance tests with lead prospects reveal annual energy savings in the $US 3M range are typical for European campuses and enterprises with large renewables penetration,” stated Devashish Paul, BluWave-ai’s Founder and CEO. “The time is right to take our Canada based innovation global. We’ve already signed India’s Tata Power and are part of the Canada-UK Power Forward Challenge program working with Green Cat Renewables to test an AI enabled enterprise-to-enterprise energy trading over the national grid.”
“BluWave-ai, an alumnus of the Ecofuel accelerator program and an Ecofuel Fund 2018 investment, is one of the premier startups that is leveraging data and AI to drive down energy costs and reduce greenhouse gas emissions,” said Richard Cloutier, Managing Partner of the Ecofuel Fund. “Adding renewables to the grid is a strong challenge and we are pleased to support BluWave-ai to expand its renewable energy AI software globally.”
BluWave-ai operates at the intersection of power systems engineering, machine learning, control and optimization to deliver an advanced SaaS-based platform for modern power and energy systems. The company’s grid energy optimization platform, which consists of BluWave-ai Edge and BluWave-ai Center, operates in either the public or private cloud. BluWave-ai Edge connects to IoT sensors and meters, using historical and real-time data to provide AI assisted optimization of local energy generation and storage. BluWave-ai Center manages multiple BluWave-ai Edge locations, applying machine learning with new data to continuously adapt and improve the AI models used by BluWave-ai Edge to predict, optimize, and dispatch control.
“Building on Ottawa’s internationally recognized capabilities in autonomous vehicles, we are pleased to see BluWave-ai leveraging the same technology foundations in AI, analytics, networking, and real-time control systems to enable autonomous grids that employ significant renewable energy sources,” said Michael Tremblay, President and CEO of Invest Ottawa and Bayview Yards. “With our city at the intersection of data, AI and related disruptive technologies, we are excited that BluWave-ai is successfully capitalizing on this $2 billion cleantech market sub-segment. Building directly on our mission, we are proud to support this scaling tech firm.”
BluWave-ai will be at the Canadian Pavilion at SET’s TechFestival in Berlin, Germany on April 9th.
BluWave-ai uses artificial intelligence to put the smart in smart grid. Our machine learning platform balances the cost, availability, and reliability of different energy sources - renewable and non-renewable - with energy demand in real-time. We let 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, and Natural Resources Canada to realize a greener, more sustainable grid for all.
Contact for BluWave-ai