Meet the founders – Nectaware SRL
Michele Carrelli Palombi, co-founder of Nectaware to know more about their solution. Take a look!
1 – Can you briefly explain what your solution is all about? What’s unique about it?
Nectaware’ AI software ‘Lucy’, uses high-density satellite images to spot all existing photovoltaic panels over the territory, from single rooftops to big plants, providing users with a unique tool to control any existing PV plant’s real-time and forecasted generation. The software platform is equipped also with high-performing load/consumption forecasting algorithms for demand response management.
A single platform for controlling both the photovoltaic generation of entire territories and single/aggregated consumption of end-consumers opens unlimited energy market solutions for a modern and decentralized smart grid.
2- What’s the story behind your company? How was the idea for this business born?
Nectaware has a deep knowledge of AI machine learning/deep learning models applied to the energy market. Nectaware has applied its modelling analysis to highly dense satellite images that have been used as a neural network with unprecedented effectiveness, creating a new approach for the energy sector and vertical satellite solutions both for grid and energy operators.
3- Which is the challenge that your solution tackles, and how do you set apart from the other companies with similar solutions?
The increasing diffusion of renewable energy sources (‘RES’) and especially, non-programmable and intermittent sources like the photovoltaic, have heavily influenced the market and grid operators’ capacity to control such decentralized sources of energy, potentially preventing the adequate adoption of such key sources of energy for a modern smart grid perspective (sources of energy in the same place of consumption). Only a satellite solution, at low costs and without IOT barriers, opening the access to centralized control and forecast of every single PV plant could have changed the perspectives for grid and market’ players. Using satellite images of the earth together with satellite clouds weather data evolution, are uniquely applied by Nectaware to manage a comprehensive and flexible/responsive system with unlimited applications and market solutions that have no real competitors.
Some applications of Nectaware system are:
Grid Operators can balance in real-time generation with consumption accessing an unprecedented set of information, setting alert and real-time security systems;
Utilities and Traders can control photovoltaic generation and/or hourly load of entire territories making their trading decision more effective and aligned with the infra-day markets;
Energy Community Aggregators or Real Estate players can effectively study communities’ behaviours engaging prosumers in demand-response activities;
Funds, Utilities, and Urban planners can access remotely photovoltaic expected generation data in real-time of any rooftop or un-accessible place of the globe without having to access any IOT instrument maintenance costs, etc…
4- What are your goals, and what’s the biggest challenge you are trying to overcome at this moment?
The project LUCY is global, the system already controls over 830,000 plants in Italy and several others in other territories, but aims to extend its analysis of the territory all over the planet to be able to provide its potential customers with its services in any place of the world. To scale up the project internationally, however, access to sufficiently dense satellite images is needed, as well as additional refinement of some of the embedded software’s tools for images recognition and measures.
5- What advice would you give to an entrepreneur trying to pave his/her way in the space sector landscape?
We believe that adequate industrial/financial partners are important in any vertical satellite solution development, provided the high level of different technologies integration and modelling analysis.
6- About SUN, why did you apply?
SUN is providing us with highly effective mentorship assistance on potential partners, financial instruments available in the EU, and business modelling analysis of the space industry.