Volue, a leader in technologies and services that support customers in the energy transition, has announced a new partnership with Jua that promises to transform weather prediction for the renewable energy sector.
This collaboration will enable both companies to develop innovative technological solutions for forecasting and market insights. Volue will integrate Jua’s weather predictions into its fundamental analysis of energy markets, providing highly accurate forecasts for production, demand, and prices. Additionally, Volue’s customers will gain access to Jua’s weather forecasts through the Volue Insight platform.
Jua specializes in technology-driven decision-making and modeling, using its proprietary AI-based ‘Large Physics Model’ to achieve exceptionally accurate, precise, and rapid weather predictions. This model operates by analyzing tens of millions of primary data points and understanding the fundamental atmospheric physics.
Volue’s Insight platform offers crucial decision-making support for energy market participants, including fundamental and price forecasts. Traditionally, numerical weather prediction models have been the standard for the energy market, but Jua’s AI-driven model provides faster and more accurate predictions by learning and interpreting underlying atmospheric physics.
Arnt Sollie, SVP of Insight by Volue, commented, “The need to understand global weather systems is more critical than ever. With an increasing number of participants relying on accurate forecasting for grid stability, reduced imbalance costs, efficient power production, and enhanced trading profits, this partnership with Jua will set a new standard for weather prediction in the energy markets. By combining Volue’s expertise with Jua’s precise weather data, we aim to deliver market insights previously thought unattainable.”
Andreas Brenner, Co-Founder & CEO of Jua, added, “Volue is one of the most trusted and innovative companies in energy technology, and we share a vision for accelerating the energy transition. This partnership will allow us to deliver groundbreaking products more rapidly to a broader audience than we could achieve alone. I am enthusiastic about this potential and eager to contribute to accelerating the energy transition.”
This announcement is part of Volue’s Insight2Zero initiative, a series of projects planned for 2024 aimed at future-proofing the Insight by Volue platform.
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