Wegaw process remote sensing satellite data with machine learning to optimize renewable energy production
|Sectors||SaaS/PaaS Digital B2B|
|Incorporation date||26 May 2016|
- Closed 10 client commercial agreements in 2021 (3x of 2020 deals)
- Closed 2 strategic partnerships on the hydropower and trading
- 90%+ accuracy in our satellite-based unique datasets for energy
- Supported by the European Space Agency
Wegaw is set to revolutionize renewable energy production, trading and management through the power of spatial data. Through our unique capability of enhancing satellite datasets with machine learning algorithms ingesting more than 260M data points, we are able to monitor renewable energy sources like water or snow, with extraordinary accuracy (+90%).
These datasets enable our client base (consisting of clean energy producers, grid operators and traders) to better forecast future energy production, therefore helping them reduce imbalance, increase energy production and optimize price per MWh traded.
- Short term: Energy producers identify potential short-term energy production spikes (i.e. through snowmelt inferred water discharge detection) and optimize generation, increasing energy production by up to 10%
- Long term: Energy Traders and grid operators forecast future energy production based on the environmental indicators (water, snow, etc) optimizing up to 5% MWh trading price
Substantial accomplishments to date
- Successfully delivered snow and water datasets to hydropower energy & trading companies, unlocking a $ 9B market
- Total of 13 clients in the energy & water management industry and public sector, 10 of them signed in 2021, 3x what was achieved in 2020. With a range of client sizes from 200M turnover to 4B+ turnover companies
- Supported by key organizations in the European CleanTech and SpaceTech environment
- 2 Strategic industrial partnership closed to enlarge presence in the hydropower and trading industry
- SET100 certified startup by the startup energy transition international platform, promoted by the German Energy Agency (DENA)
Wegaw delivers space data extracted datasets to our energy clients through an extensive sales and pre-sales process. As the outcome of our consultative sales, Wegaw generates a data provision subscription agreement that charges per power plant to be monitored. The subscription price is the following:
Image - Wegaw Snow Depth product used for hydropower energy and trading optimization
- Our proposal for energy traders is a 10% commission on the cumulative delta gain from trading with Wegaw datasets
- Energy utilities or grid operators are charged between $5k to $20k per power plant to be monitored
Use of proceeds
Wegaw has a laser-focused growth plan for the next 18 months, with the major objectives of:
1.- Construct the most solid pre-sales and sales process towards the energy industry with top tier sales and technical skills (60% of proceeds)
- Business development leadership
- Digital and traditional marketing leadership
- Pre-Sales process strategy and execution
- Client on-boarding automatization
- Externalized lead acquisition engine
2.- Add the additional functionalities that will unlock the remaining renewable energy market (40% of proceeds)
- Earth Observation and data analytics capabilities
- Development of additional environmental functionalities
- Environmental modelling and prediction capabilities
- Client platform development
Direct investments in the round from investors outside of Seedrs investing 335k Swiss Franc are reflected in the campaign at an agreed exchange rate of 1:0.913 CHF to EUR. Investments on Seedrs are in EUR.
The company has the following outstanding loans:
CHF 50k FIT Digital Seed loan from the Swiss State at 0% interest and 100% backed by the state. The loan is to be repaid in July 2024.
CHF 145k COVID19 Swiss Government aid loan at 0% interest and 100% backed by the state. The loan is to be repaid in July 2030.
The funds raised from this investment round will not be used to repay these loans.
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