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What is Renewcast?

Renewcast, an Italian company, specializes in artificial intelligence-based forecasting for renewable energy, with a particular emphasis on wind power generation. Founded in 2020 by a team boasting over a hundred years of combined experience in energy and IT, this innovative firm offers a Software as a Service (SaaS) platform that provides highly accurate daily and intra-day wind energy production forecasts. Utilizing advanced proprietary deep learning algorithms and digital twin technology, Renewcast achieves a remarkable forecasting accuracy with errors as low as 7% normalized Mean Absolute Error (nMAE), which notably surpasses the global industry benchmarks. This level of precision enables energy operators to reduce global imbalance costs by up to 30%, enhancing their operational efficiency. Renewcast's services include a variety of forecasting periods—from intra-day to day-ahead, as well as 48-hour and medium-term forecasts lasting up to 15 days, with hourly updates available. Clients benefit from seamless access to these forecasts through a direct API, and they can tailor parametric reports using a user-friendly interface, emphasizing the platform's accessibility. As a result, Renewcast is positioned at the forefront of transforming the management and application of wind energy forecasts within the sector, setting a new standard for accuracy and user engagement in energy forecasting.

What is FUTURE?

FUTURE® emerges as the pioneering adaptable forecasting system for global oil and gas production. This cutting-edge platform is capable of performing comprehensive integrated asset model calculations for large-scale systems in just a few minutes, leveraging daily time-steps that are critical for making short-term predictions. By integrating various overlapping software tools—including the DCA application, IAM software, business planning spreadsheets, and STPF systems—FUTURE® delivers a cohesive solution. Users are empowered to handle all forecasting-related activities through a singular interface, which covers long-term forecasting for business planning and reserves, medium-term forecasting for development strategies and resolving bottlenecks, as well as short-term forecasting vital for production operations. The efficiency gained from this streamlined approach not only simplifies the forecasting process but also reduces the complications that often arise from using multiple distinct software systems. As a result, organizations can achieve more precise predictions and enhance decision-making across various operational levels.

Media

Media

Integrations Supported

Microsoft Azure

Integrations Supported

API Availability

API Availability

Pricing Information

Pricing not provided

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

Windows

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Web-Based Support

Training Options

Documentation Hub
On-Site Training

Training Options

Documentation Hub

Company Facts

Organization Name

Renewcast

Date Founded

2020

Company Location

Italy

Company Website

renewcast.com

Company Facts

Organization Name

Serafim

Company Website

www.serafimltd.com

Categories and Features

Energy Management

Not specified

Categories and Features

Oil and Gas

Resource Management
Scheduling

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