Enverus, an energy-dedicated SaaS company, has acquired CRCL Solutions, a provider of cloud-based algorithms and modeling for wind and solar generation forecasts. CRCL Solutions provides a wide range of advanced forecasting data to help power traders make informed decisions and reduce trading risk.
“Accurate predictions of wind and solar production have become a necessary building block for everyone involved in the power industry,” says Jeff Hughes, CEO of Enverus. “To meet the needs of our customers we must forecast this production, and we must do it well.”
As renewable energy capacity continues to grow to meet the requirements of a changing U.S. energy market, power traders and plant operators are increasingly reliant upon accurate, granular wind and solar forecasting data to identify arbitrage opportunities, reduce trading risk and optimize asset deployments.
Thomas Sherman and Daniel Vassallo founded CRCL Solutions in 2021. Their recent work has spanned developing a novel algorithmic suite to improve weather forecasting, and creating a technological pipeline that transforms raw weather forecast data into wind and solar generation forecasts at the plant level.
“By combining CRCL’s core technology with Enverus’ data resources, CRCL can improve its current product offerings and create entirely new energy forecasting products that were previously not possible. We believe Enverus is a perfect partner to develop the next generation of wind and solar forecasting,” Sherman said.
Bernadette Johnson, general manager of Power and Renewables at Enverus, who will oversee CRCL Solution’s integration, adds: “CRCL Solutions’ offerings are complementary to what we’ve been building for years, and together, we will create more useful and granular forecasts that enhance solutions and diversification amid an ever-changing energy transition.”
Image by Lynn Greyling from Pixabay.
