Powel Calls For Greenovation
One of the benefits of being an analyst in the commodity trading and risk management space is undoubtedly attending the various vendor user forums. This year, I was invited to Powel’s, but unfortunately I could not make it. Powel Days 2015 was held in Trondheim in mid-November and instead of attending, I was briefed on the event last week by Frederik ten Sythoff, Powel’s Corporate Marketing Director. The theme of the event was ‘Greenovate’ and some 245 people representing 90 customers and partners attended it. Powel Days is a two-day conference for its customers in the energy sector, and covers areas like power production, grid infrastructure and smart metering (AMS).
Powel has a somewhat unique position in the energy sector in that it has a strong track record in the utility and grid space around smart grid, optimization products along with the ETRM and specifically logistics capabilities via its Delta XE product suite. The Greenovate theme picked up on innovation and sustainable development in the energy industry and in particular the IT and digitalization aspects going on at some speed in the industry, I was told. “Powel already has a range of solutions within green innovation. Examples of this are optimisation solutions for power production, better trading support, smart grid solutions and tools for more efficient work in the field.”
Mr. ten Sythoff also shared a video presentation with me of various Powel customers with examples of where innovation might be applied, why it is important and a couple of examples. In one example, a grocery store and prosumer was built from the ground up for energy efficiency utilizing solar panels and wells to store heat with the result of a 52% savings in energy. Although Powel already has had success with its optimization software products in terms of thermal energy optimization, renewables portfolio optimization and in other areas, it remains keen to be on the forefront of innovation and sustainable development using the two-day conference as a way to discuss and engage with customers and partners in the area. A panel discussion was very productive and featured a number of academics, customers and partners interacting with the session.
As the price of sensors comes down and with the advent of big data, predictive analytics, machine learning, the Internet of Things combined with the challenges faced by the energy industry, particularly in Europe, Powel has taken a very intriguing stance. By seeking to engage and innovate, Powel and its product set are positioning extremely well for the challenges to come and based on what I learned from Mr. ten Sythoff, I really need to attend Powel Days 2016.
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