Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the energy industry. This time, you get to discover four hand-picked digital twin startups impacting energy companies.
Out of 54, the Global Startup Heat Map highlights 4 Top Digital Twin Startups impacting Energy Companies
The insights of this data-driven analysis are derived from the Big Data and Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups and scaleups globally. The platform gives you an exhaustive overview of emerging technologies and relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 54 exemplary startups and scaleups we analyzed for this research. Further, it highlights four digital twin startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these four startups and scaleups in this report. For insights on the other 50 digital twin solutions for energy companies, get in touch.
Visualiz enables Virtual Reality (VR)-based Collaboration
VR-enabled digital twin technology enables designers, experts, and distributed operational teams to collaborate more efficiently. Such 3D collaboration platforms allow users to minimize communication gaps and confusion. For example, on-site inspection teams and engineers at offices are able to work together without physical presence, saving time and costs.
Norwegian startup Visualiz develops bespoke platforms for the visualization of physical assets in the energy industry. The startup’s VR-based collaborative space allows users to visualize energy assets, monitor their status, and detect areas for troubleshooting or improvement.
Pratiti Technologies offers Performance Analytics For Renewable Generation
While trying to forecast the precise power generated from renewable energy sources, performance analytics makes it easier to understand the life of an asset. In addition, real-time insights on weather conditions and asset failures support decision-making to reach production targets.
Indian startup Pratiti Technologies provides digital twin data analytics systems for solar energy assets. The startup’s solution integrates supervisory control and data acquisition (SCADA) and remote monitoring systems. This delivers features such as benchmarking, root cause analysis, intra-day power prediction, and performance forecasting.
QiO Technologies facilitates Predictive Asset Maintenance
With self-learning digital twin technology, it is possible to use predictive analytics to forecast energy asset failure, malfunction, or damage. This allows for optimizing the maintenance process, moving from a reactive to a predictive maintenance model, decreasing unplanned and costly downtimes.
QiO Technologies is a UK-based startup that develops an AI-based maintenance application for the oil & gas industry. The startup’s solution predicts potential failures and recommends the best course of action. This allows maintenance teams to prevent or minimize downtimes and speed up countermeasures. Additionally, the application provides dynamic diagnostics to mitigate similar issues in the future.
PETRA Data Science provides Energy Systems Simulation
The simulation of energy systems creates a model-based representation of the technical processes occurring within a plant. Changing the parameters in a virtual energy system allows users to simulate numerous real-world scenarios. This, in turn, enables energy asset and production plant owners to identify bottlenecks.
Australian startup PETRA Data Science develops digital twins for the mining value chain of the oil & gas industry. The startup integrates 3D geological, blasting, and fragmentation data with time series processing data. Machine learning algorithms then simulate the planning of the mining process and the process control options. This allows project managers to optimize project planning and predict plant performance.
Discover more Energy Startups
Energy startups such as the examples highlighted in this report focus on artificial intelligence, predictive maintenance, and immersive technologies as well as renewable energy. While all of these technologies play a major role in advancing the energy industry, they only represent the tip of the iceberg. To explore energy technologies in more detail, simply let us look into your areas of interest. For a more general overview, download our free Energy Innovation Report to save your time and improve strategic decision-making.