US-based firm Innowatts is set to expand its suite of artificial intelligence (AI)-enabled analytics and digital energy applications to European markets, where it is already testing its technology across four million smart meters.
As part of the expansion, the company will initially focus on the UK, Spain, Scandinavia and other smart-meter enabled regions. Through this expansion, the company intends to offer vital predictive intelligence to European energy providers, which facilitates decarbonisation, lowers customer costs and personalises the end-user experience.
Using its cloud-based eUtility platform, a software-as-a-service-solution (SaaS), Innowatts enables energy providers to disaggregate customer-level energy patterns and use that intelligence to design bundled offering plans, pricing and product solutions suitable for individual customers.
Additionally, the company noted that its solution provides load forecasts and other predictive insights that enable proactive forms of customer engagement such as smart energy alerts and point solution offerings
By expanding its operations in the European market, it hopes to increase the returns on investment (ROI) on smart meter deployments across the region. Innowatts also appointed Dave Boundy as its European general manager.
Boundy said: “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.
“Innowatts eUtility is designed to help energy companies leverage their data and translate it into actionable intelligence.”
Innowatts has been providing AMI-enabled predictive analytics and AI-based solutions for utilities, energy retailers and smart energy communities.
To date, the company has analysed more than 21 million smart meters across the globe.