Please tell us about the products and services offered by the company.
Utopus Insights is a New York-based data-driven energy analytics Software as a Service company that develops global digital solutions to accelerate the integration of renewable energy into the modern grid.
Our ‘digital intelligence’ leverages the power of advanced data science, machine learning, and artificial intelligence to unlock insights from vast amounts of IoT data including sensor, smart meter and weather data.
Utopus Insights delivers software products that are descriptive (historic data and real-time visualization), predictive (energy and weather forecasting), and prescriptive (asset health for optimal maintenance and uptime).
Scipher™, our energy analytics platform and application suite enable renewable energy asset owners, operators, and utilities to optimize their financial interests and increase reliance on typically intermittent renewable energy sources. Enhanced forecasting capabilities improve asset predictability, promote reliability, and augment maintenance operations to lower costs and extract additional revenue.
Why has data analytics boomed in the market in a short period of time?
The energy industry is going through profound changes, with digitization playing a key role. The industry is using data analytics to cut costs, optimize investments and reduce risk.
Asset downtime and underperformance have always been a challenge in the renewable industry. More energy companies are now using sensor data and digital algorithms to maintain and operate grids in a much more efficient manner than ever before. With data analytics, it is easier to gain a deeper understanding of the relationship between various signals and causes of failure, and using data analytics, makes failure identification possible with enough lead time to take timely action.
What are the new innovations that the company is working on?
At the core of Utopus Insights, data is the key to everything. We are incorporating advanced analytics in our product suite to helps industry professionals track asset performance to optimize and maximize revenue from their portfolio.
Scipher.Vx+, a visualization product, provides advanced dashboarding and analytical capabilities. It allows monitoring renewable energy asset performance using industry-standard reference power curves to visualize, analyze and quantify potential performance deviations, also provides intuitive and interactive visualization capabilities enabling customized analyses across multiple regions, time periods and OEMs.
Scipher.Rx is an advanced one-stop predictive maintenance SaaS product that allows users to identify, prioritize and preempt critical component failure at the individual asset level, or across an entire ﬂeet.
Scipher.Rx ingests, organizes and structures historical asset data and information to train and run predictive models that alert users of potential component failures. Metrics such as conﬁdence score, failure windows and alert counts are visualized and analyzed to reveal failure trends at the individual asset level or across an entire ﬂeet.