We are very pleased to welcome Aquiloz as a new partner in the NORCOWE consortium!
About the company:
The Bergen based company Aquiloz was established in February 2011. Their objective is to bring trading and optimization routines from the financial energy markets together with state of the art IT technology, for the purpose to improve commercial viability for the renewables sector.
Aquiloz delivers next generation power prediction and decision support systems for operators of wind farms. By deploying cutting edge methodologies, including physical flow modelling, and optimizing use of historical and real time operational SCADA data, they are better able to understand and explain the complexity of wind power predictions down to the individual turbine.
During the first years of operation, focus has been on R&D activities and Aquiloz has worked closely with several large European utilities to tailor the system to market requirements.
Aquiloz has benchmarked the performance of the system against existing services and solutions in the market. The results show significant improvement over the best benchmarks, for both day ahead as well as intraday forecasts, for land based and offshore wind farms.
Aquiloz will start the commercial roll out of the Aquiloz Wind Power Suite in 2014 with Europe as the first market targeted.
The Aquiloz team has extensive experience from the energy sector and IT systems development, and brings competence and knowledge of the financial energy markets to the Norcowe family. Wind power is unstable and it is very difficult to predict future production. Inaccurate predictions will significantly affect the commercial value of wind farms owners in a long-term perspective. Through increased understanding of how the energy markets are working, the wind farms owners will be better able to reduce the overall risk and increase the return on investment (ROI).
Aquiloz is excited to become a part of Norcowe: "We look forward to increasing our networking efforts and to work even closer both with the academic and the commercial members of the Norcowe family." Aquiloz is today cooperating with the Geophysics Institute at University of Bergen where we are mentoring a master student for writing a thesis about offshore wake modelling.
Please visit Aquiloz's website for more information about the company.