Renewable energy is a hot top in the latest global news. Organisations are looking for ways to secure a more sustainable future for their companies as the world pushes progress towards its net-zero target as part of the COP26 initiative.
Leading Artificial Intelligence company, SparkCognition, has announced its acquisition of Ensemble Energy - a leading software provider for the renewable energy sector. The company’s procurement of Ensemble will allow it to offer the world’s first AI-enabled asset management platform for renewable energy systems. It plans to reduce costs while increasing the energy output.
Addressing Climate Change
SparkCognition provides AI solutions for clients which uncovers hidden insights from their data. The company has become increasingly committed to sustainability limiting asset downtime, ultimately improving operational efficiency. Through its acquisition of Ensemble Energy, SparkCognition can now provide extensive expertise for renewable energy companies with the latest cloud computing and data analytics developments. The end goal for the amalgamation of these companies is to provide energy companies with a solution to manage their environmental impact.
Dr Sandeep Gupta, CEO of Ensemble Energy, talks on behalf of the company about the acquisition. “We're excited to join the SparkCognition team, where we can continue to build upon our existing platform and SparkCognition's unmatched AI technology – offering the energy industry valuable AI solutions and ultimately accelerating the adoption of renewable energy."
Providing Operational Sustainability
Governments and private sector organisations around the world have invested in excess of US$2tn in renewable energy capacity development in the past 10 years, according to BloombergNEF. As a result, global energy capacity increased by more than 1,200GW, of which 90% was sourced from renewable means.
SparkCognition will continue to improve sustainability through the development of production, storage and utilisation methods. “Addressing global climate change requires the world to deploy engineering solutions at scale, in order to make them cheaper and more effective," explained Lord John Browne of Madingley, SparkCognition board member and former CEO of bp.
Through supplying and promoting the adoption of AI and predictive analytics, the company will provide its clients with the asset management tools required to monitor all aspects of the process in real-time while also gaining predictive insights that will speed up the maintenance process.
"SparkCognition's acquisition of Ensemble Energy will enable us to do just that, helping customers to transform their businesses faster and more cost-effectively than before by applying cutting edge AI technology," says Browne.
The initial step for this acquisition will be concentrated around the solar and wind energy experts to broaden their use of energy storage, hydro and green hydrogen.