Veritone Announces Device Learning Model for SMA’s Sunny Central Solar Central Inverters, Improving Grid Reliability in Global Green Power Transition
DENVER – (COMMERCIAL THREAD) –Veritone, Inc. (NASDAQ: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE ™, today announced the development of a new device learning model for market-leading SMA Sunny Central solar inverters as part of the company’s Grid Reliability in Device (GRID) initiative to accelerate clean energy adoption by developing a library of device learning models that enable predictive control of common distributed energy resources (DERs), including solar and storage inverters, battery storage systems, EV chargers, wind turbines and hydroelectric systems. The Company expects this initiative to simplify the integration of distributed energy resources (DER), extend asset life and increase grid resilience.
Utilities, independent power producers (IPPs) and micro-grid developers face reliability challenges in integrating and managing green energy sources due to their variable nature. Fluctuations in the power supplied by these sources can cause costly damage to grid assets, as well as inefficient power distribution. Additionally, extreme weather conditions can damage entire grids in the absence of autonomously controlled microgrids. Without predictive AI modeling and monitoring of network assets, these reliability challenges will continue.
Veritone energy solutions are AI-powered predictive solutions that balance and strengthen the network to increase reliability, reduce operating costs, and improve resiliency. Veritone expects a device learning model for Sunny Central solar inverters from SMA – the third largest manufacturer of PV inverters according to Mackenzie Wood – will help utilities, operators and developers of solar assets realize these benefits faster than ever. This predictive, dynamic and continuously updated decision model will reflect the current state of the SMA inverter and will work in conjunction with other dynamic models reflecting the current state of the wider grid, optimizing the distribution of energy. and informing Veritone inverter controllers of the most efficient way to manage power through the device to meet grid demand at the lowest possible cost.
“Our planned compatibility with SMA reflects our continued commitment to accelerate the transition to clean energy using AI,” said Chad Steelberg, president and CEO of Veritone. “The predefined predictive models for SMA Sunny Central inverters will help utilities, operators and developers using these inverters in their networks reap all the benefits of an AI-controlled grid, faster than ever. ”
Patented Veritone CDI Flight Attendant Technology will be used to model and control multiple SMA inverters and synchronize them to enable autonomous grid control and decision making across the entire grid, thus helping to ensure optimal economic dispatch during normal operations and macro and micro resilience -networks during extreme weather events. Compatibility with SMA solar inverters will also allow solar smoothing, which extends asset life and reduces the risk of inverter burnout and any resulting environmental damage.
“SMA PV inverters provide the next generation of PV power,” said Wolf Kohn, chief scientist at Veritone and inventor of Veritone’s patented CDI technology. “We expect our predictive AI models for SMA inverters to dramatically increase the reliability and longevity of inverters when integrating into new and old grids. ”
Veritone is currently building a library of device learning models for the world’s largest and most innovative clean energy device manufacturers, resulting in “plug-and-play” network compatibility with devices. aiWARE operating system and predictive energy solutions. Veritone expects this library of device models reflecting behavioral characteristics and interactions of power devices to scale its AI-powered energy business faster, helping it achieve its goal of a network. electric interconnected, on demand, green and autonomous.
For more information on Veritone Energy Solutions, please visit: https://www.veritone.com/solutions/energy/
Veritone (Nasdaq: VERI) is a leading provider of artificial intelligence (AI) technologies and solutions. The company’s proprietary operating system, aiWARE ™, powers a diverse set of AI applications and intelligent process automation solutions that are transforming both business and government organizations. aiWARE orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. The company’s AI development tools make it easy for its customers and partners to develop and deploy custom applications that harness the power of AI to dramatically improve operational efficiency and unlock untapped opportunities. Veritone is headquartered in Denver, Colorado, and has offices in Costa Mesa, Denver, London, New York and San Diego. To learn more, visit www.veritone.com.
As a leading global specialist in photovoltaic and storage system technology, the SMA Group today sets the standards for the decentralized and renewable energy supply of tomorrow. SMA’s portfolio includes a wide range of efficient photovoltaic and battery inverters, holistic system solutions for photovoltaic and battery storage systems of all power classes, intelligent energy management systems and complete solutions for diesel photovoltaic hybrid applications. Digital energy services as well as extended services up to and including operation and maintenance services for photovoltaic power plants complete the SMA portfolio. SMA inverters with a total output of over 100 gigawatts have been installed in more than 190 countries around the world. SMA’s multi-award-winning technology is protected by more than 1,600 patents and utility models. Since 2008, the Group’s parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and is part of the TecDAX index.
Safe Harbor Declaration
This press release contains forward-looking statements, including, without limitation, statements regarding Veritone’s GRID initiative, the expected capabilities of Veritone’s intelligent predictive controllers and other energy solutions, and the expected benefits thereof. ci for customers, the Company’s expectation that its GRID initiative will enable the Company to develop its AI-based energy business more quickly and help it achieve its goal of an on-demand, interconnected electricity grid, green and self-sufficient, and the company’s belief that Veritone’s energy solutions will become the standard for intelligent off-grid control. Without limiting the generality of the foregoing, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “intend”, “could”, “could “,” Estimate “or” continue “or the other negative variations thereof with comparable terminology are intended to identify forward-looking statements. In addition, any statement that refers to expectations, projections or other characteristics of future events or circumstances are forward-looking statements. Assumptions about the foregoing involve judgments and risks regarding a variety of matters that are difficult or impossible to predict with precision, many of which are beyond Veritone’s control. Some of these judgments and risks are discussed in documents filed by Veritone with the SEC. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be incorrect and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be achieved. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be construed as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone does not undertake to revise any forward-looking statements contained herein to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unforeseen events.