Veritone Extends Its Technology Lead In Renewable Energy Optimization With Three New Patents
Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE, today announced that it has received three new patents for its battery control technology, bringing the total number of issued patents covering its Veritone Energy Solutions to 13, with another 16 patent applications pending.
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Veritone received three new patents for its energy solutions, enabling industry-transforming, dynamic battery synchronization and control for optimal battery operation and longevity. (Graphic: Business Wire)
The new patented technologies enable dynamic, real-time synchronization and control of batteries to ensure optimal power distribution and battery life, helping to enable a reliable, cost-efficient green energy grid. The technologies empower utilities, independent service providers and battery providers with ground-breaking ways to address the very real Distributed Energy Resource (DER) integration challenges of suboptimal battery operation, overheating and failures that introduce safety concerns and cost companies millions in equipment damage each year.
“As the world transitions to renewable energy, whether it be wind, solar, or hydroelectric, the unpredictable nature of these green energy sources and the resulting energy supply and demand imbalances must be resolved if we are to achieve our green energy goals,” said Chad Steelberg, CEO of Veritone. “While deploying batteries to provide energy storage and smoothing seems like an obvious and simple solution, the technical hurdles to accomplish it at scale in the real-world are challenging. AI-based battery control and synchronization is necessary, now more than ever. Veritone has developed proprietary machine learning algorithms, now protected by several U.S. patents, to meet this pressing need.”
These battery control patents complement Veritone’s patented AI-based energy solutions for predictive real-time control, management and adaptation of smart grids. By applying advanced models, rules and learning to weather forecast, energy demand, pricing, and device data, Veritone Energy Solutions help utilities automatically predict optimal energy supply mix and pricing to meet grid demand, in real-time.