REOptimize Systems has sealed £300,000 in equity funding from a group of investors including Ian Marchant, the former chief executive of utility giant SSE and Johnnie Andringa, a serial entrepreneur in wind and other renewable energy technologies.
The fledgling firm has developed proprietary artificial intelligence-based technology that aims to maximise energy production on commercial wind turbines.
It has recently deployed its technology in several commercial projects in the UK and Italy and is also engaged in a pilot project in Germany.
The firm’s software uses a combination of AI and expert modelling techniques to analyse large amounts of high-resolution turbine performance data. The technology then finds new settings for the wind turbine controller.
Managing director Richard Crozier said: “This is an exciting time for the company as we transition from a heavy R&D focus, to launching our product in the market.
“Our successful medium scale wind projects have proven that our patented loss-minimisation technology works for our customers. The pilot project on the Siemens turbine is demonstrating it also works for utility scale customers.
“With our technology we can make a huge difference to turbine owners’ bottom line, and ultimately have a really significant impact on climate change.”
REOptimize Systems is a trading name of Power Enable Solutions. The development has been supported by Innovate UK Icure funding and further grant funding through the Scottish Smart programme from Scottish Enterprise.