Innowatts, a Houston-based leading provider artificial intelligence (AI) solutions for energy providers, announced Wednesday it will extend its AI-enabled analytics and digital energy applications to European markets.
The new expansion will focus initially on the UK, Spain, Scandinavia and other smart-meter enabled regions, company officials said.
Dave Boundy, who founded and served as general manager of Intel Energy Solutions, will serve as Innowatts’ European general manager, according to the announcement.
Innowatts officials say they have already been testing its platform across 4 million smart meters, and that to date, the Innowatts eUtility™ technology platform has provided solutions for nearly 20 million energy consumers and their energy providers.
The company aims to equip European energy providers with critical predictive intelligence that facilitates decarbonization, lowers customer costs and personalizes the end-user experience, according to the announcement.
“Despite the accelerating adoption of smart meters globally, energy companies continue to struggle to realize the full value of these investments,” the announcement said. “Innowatts’ technology provides utilities and retail energy providers with a single platform for extracting smart meter insights and translating those insights into new sources of customer and business value.
“By bringing its technology to European energy markets, Innowatts hopes to dramatically increase the ROI of many smart meter deployments across the region,” it added.
Company officials say Innowatts will offer these services through its cloud-based eUtility™ platform, a software-as-a-service-solution (SaaS). The software enables energy providers to quickly disaggregate customer-level, energy patterns and to use that intelligence to design highly personalized, bundled offering plans, pricing and product solutions matched to individual customer needs, officials said.
The solution also provides load forecasts and other predictive insights to enable customer engagement, such as smart energy alerts, notifications and point solution offerings, according to the announcement.
“The rapid expansion of smart meter deployments and IoT technology across Europe has created a trove of new data and insights on customer energy consumption,” said Boundy. “Innowatts eUtility™ is designed to help energy companies leverage their data and translate it into actionable intelligence.”
Innowatts currently has analyzed more than 21 million smart meters globally, amassing one of the largest single bodies of smart meter analytics and machine learning-enabled intelligence on energy consumers.
In addition to its customer engagement applications, eUtility™ has been used by energy providers in competitive power markets to lower bulk supply and risk management costs, integrate distributed energy resources into their portfolio, and optimize customer pricing decisions.
For further information on Innowatts eUtility™ offering in the UK and Europe, visit Innowatts.com/Europe.
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