REOptimize Systems raises Seed Funding as it proves its revolutionary AI technology on Commercial Wind Turbines
June 23rd 2021
REOptimize Systems has secured major new investment to accelerate the commercialisation of their ground-breaking wind turbine improvement technology.
The Edinburgh start-up closed £300,000 equity seed funding in May 2021 to begin commercialisation of their AI technology which boosts wind turbine energy production.
REOptimize Systems’ funding round has been made by a group of investors including Ian Marchant, the former CEO of the utility SSE and Johnnie Andringa, a serial entrepreneur with many years of renewable energy experience.
REOptimize Systems have recently deployed their technology in several commercial projects, achieving an increase in annual energy production in excess of 6% in two medium scale wind turbines and promising initial results in utility scale turbines.
The medium scale turbines were modern 60kW and 100kW direct-drive models located in Italy and in the UK, and, in addition to an improved energy production, REOptimize also achieved significant reductions in vibrations, and in unplanned shutdowns.
The company is now engaged in a pilot project on a Siemens 2.3 MW turbine in Germany, with promising initial results, which it plans to roll out to the fleet of turbines later this year.
The REOptimize software uses a combination of AI and expert modelling techniques to analyse huge amounts of high resolution turbine performance data. The technology then finds new settings for the wind turbine controller which boosts the energy production without increasing loads or other negative effects in the turbine. This is achieved with no hardware or software modifications to the turbines, making only finely tuned changes to the existing controller settings.
Commenting on the projects REOptimize Systems Managing Director Richard Crozier says:
"This is an exciting time for the company as we transition from a heavy R&D focus, to launching our product in the market. Our successful medium scale wind projects have proven that our patented loss-minimiszation technology works for our customers. The pilot project on the Siemens 2.3 MW turbine is demonstrating it also works for multi MW turbines and utility scale customers. With our technology we can make a huge difference to turbine owners’ bottom line, and ultimately have a really significant impact on climate change."
The REOptimize technology was developed over seven years by Dr. JP Echenique (CTO REOptimize) and others at The University of Edinburgh, a recognized European hub for Artificial Intelligence and Machine Learning. The development has been supported by Innovate UK ICURE funding and further grant funding through the Scottish SMART programme from Scottish Enterprise.
Johnnie Andringa, an experienced entrepreneur in Renewable Technologies and lead investor in REOptimize, commented: “From the start I could see that JP and Richard were very skilled experts in the field of AI and wind turbine controls. I was sceptical though, about whether this could be translated in real life turbines. The first commercial projects have more than removed my concerns; the uplift in performance is real and the loss minimiszation assured that the loads did not increase. During the projects even some control resonances were smoothed which lead to less downtime and a reduction in fatigue loading!”
About REOptimize Systems
REOptimize Systems develops an AI based software platform which finds new settings for wind turbines that increases annual energy production and reduces stresses on components. The company was founded in 2017 to commercialise technology developed over seven years at The University of Edinburgh. REOptimize provides control settings optimizations for turbine owners and operators that can increase Annual Energy Production by up to 6%, potentially doubling wind farm profit. REOptimize’s patented algorithms and proprietary software calculates optimal settings for each individual turbine, considering the turbine’s unique conditions and characteristics. Our optimizations have been proven in kW and MW scale commercial turbines. By proving the technical viability and commercial value at Utility scale, the company is transitioning from a start-up to a growth venture.