European utility Fortum is driving digital transformation within the energy sector, together with DigitalRoute. Starting with a digital solution for energy trading, by deploying machine learning algorithms based on DigitalRoute's Data Optimization ...
European utility Fortum is driving digital transformation within the energy sector, together with DigitalRoute. Starting with a digital solution for energy trading, by deploying machine learning algorithms based on DigitalRoute's Data Optimization Platform, the companies are now taking the next steps in building data driven services within the energy sector.
STOCKHOLM, Sweden, Dec. 19, 2017 (GLOBE NEWSWIRE) -- DigitalRoute, the leading Data Integration and Data Management company, and key European energy provider, Fortum, have jointly announced the completion of a successful Proof of Concept project. Fortum is a leading clean-energy company offering electricity, heating and cooling solutions as well as driving the change for a cleaner world.
Fortum has been looking for an IoT enabling platform to develop data-driven solutions and has now chosen to partner with DigitalRoute. DigitalRoute's platform allows for real-time communication between assets, plants, data sources and business systems, resulting in optimal quality data, which can be utilized to simplify the deployment of new solutions and optimize key processes.
The recently completed Proof of Concept focused on optimizing two different operational processes, both highlighting the benefits of Data Quality; to secure high quality data and then apply machine learning in order to optimize trading decisions.
The Use Case showed how DigitalRoute's solution could be used to predict intraday prices on the Nordic Energy market using external and internal data. Direct integration between the DigitalRoute Data Optimization Platform and market data sources enabled this provider to gain increased operational control, speed and commercial agility.
Fortum's Vice President, Trading and Asset Optimization, Simon-Erik Ollus, observed: "In partnership with DigitalRoute, we can increase both our momentum in the market as well as our self-sufficiency. We can focus on simplifying the deployment of new solutions and optimizing business processes, enabling a fast time-to-market."
Fortum will now utilize the experiences from the Proof of Concept in other areas such as operation and maintenance optimization of charging infrastructure, Smart Living services and further solutions within energy trading.
DigitalRoute CEO Andreas Zartmann said: "Our technology is a game changer for cutting-edge utility providers and we are delighted that Fortum is working with us to demonstrate how energy companies can use it to turn innovations from an opportunity into a commercial success. We are also excited to partner with a visionary player in a fast-changing industry. Once again, this underlines the wide scope of challenges DigitalRoute's technology can address."
DigitalRoute has been providing new approaches to data integration and data management since 1999. Its technology offers high throughput and provides a unique degree of user configurability, processing all usage and statistical data extracted from networks of connected assets. This means customers gain greater cost efficiencies, improved time-to-market for new service offerings, the ability to monetize any data, and the means to enhance end-customer satisfaction. DigitalRoute makes network events available to the right systems in the right formats in the most appropriate volumes at the required times, without losing a single bit. This is the foundation from which multiple, mission-critical use-cases can be addressed.
Over 350 leading companies worldwide use DigitalRoute technology to meet their data management needs, including a number of OEM partners who use our platform as a central part of their own offerings. DigitalRoute is built on the core values of Expertise, Open-Mindedness and Commitment. With close to 200 employees, the company is headquartered in Stockholm, Sweden with regional offices in Gothenburg, Atlanta and Kuala Lumpur. DigitalRoute is a venture-backed, privately-held company.
For more information or interviews with Andreas Zartmann contact:
Sancha Brody, Media & Analyst Relations
Phone: +44 (0)7376 366855
DigitalRoute and MediationZone are registered trademarks of Digital Route AB. All other trademarks are the property of their respective owners.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DigitalRoute via Globenewswire
Source(s) : DigitalRoute
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