Patented technology enables
industry-transforming, dynamic battery synchronization and control
for optimal battery operation and longevity
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.
The following new battery control patents have been issued to
Veritone:
- The first patent (U.S. Patent No. 10,601,316) is generally
related to techniques for automated, real-time and dynamic control
of battery power (charging or discharging) based on its current
charge state, to optimize battery operation and increase battery
longevity. The patent also includes the ability to synchronize
power across multiple batteries across a farm or microgrid to
ensure ideal power across the systems.
- The second patent (U.S. Patent No. 10,666,076) is generally
related to techniques for dynamic control of batteries by
continuously updating control models based on the battery's current
state and behavior, thereby optimizing battery operation and
increasing battery longevity. The current state is measured by
sensing variations in battery output as a result of input
excitation signals sent to the battery.
- The third patent (U.S. Patent No. 10,816,949) is generally
related to techniques for battery control system impedance
actuators that optimally control the battery based on its current
charge state and thermal state, reducing power dissipation and
increasing battery life. The patent also includes the ability to
use a mean field game representation to synchronize battery power
delivery across multiple control systems present in a battery farm
or microgrid.
“Other battery control solutions rely on day-ahead forecasting
and steady state battery operation, which are not realistic in
today’s distributed, unpredictable clean energy grids,” said Dr.
Wolf Kohn, Chief Data Scientist at Veritone. “Our battery control
technology, represented in the three new patents we have been
granted, is unique in that it is based on real-time AI that
predicts energy supply and demand minutes ahead, instead of days,
and is based on the dynamic conditions of the battery and the
operating environment at any given time.”
“Veritone’s dynamic battery control and synchronization
technology helps independent service providers and battery
providers optimize battery operation, reduce power dissipation and
prolong battery life,” said Adje Mensah whose firm A.F. Mensah,
Inc. develops and operates solar and battery storage projects.
“With its innovative intelligent battery management technology,
Veritone’s ability to leverage massive amounts of historical and
real-time data to balance energy supply and demand is unique in the
market, and truly transformative when it comes to solar forecasting
and optimal dispatch for battery farms and microgrids.”
Veritone Energy’s Solutions include: Forecaster, which
accurately detects and predicts energy supply, demand and price;
Optimizer, which makes AI-based energy supply determinations;
Controller, for predictive device control and active
synchronization, combining energy sources to optimally satisfy
demand; and Arbitrage, for buying, selling and dispatching energy.
Veritone aiWARE, the leading cognitive operating system, provides
deployment, integration, data services and weather services to
these solution components. Veritone Energy’s highly customizable
solutions can be applied to solve a wide range of challenges facing
the industry, including solar smoothing, demand response,
micro-grid synchronization, intelligent device control, voltage
optimization, regulatory compliance, dispatch optimization and
high-speed energy arbitrage. Its highly-differentiated solutions
are covered by 13 patents issued in the United States and other
countries, with an additional 16 applications pending.
For more information on Veritone Energy patented technology,
including the scientific research behind it, please click here. To
learn more about Veritone Energy solutions, please visit:
https://www.veritone.com/solutions/energy/.
About Veritone
Veritone (NASDAQ: VERI) is a leading provider of artificial
intelligence (AI) technology and solutions. The company’s
proprietary operating system, aiWARE™, powers a diverse set of AI
applications and intelligent process automation solutions that are
transforming both commercial and government organizations. aiWARE
orchestrates an expanding ecosystem of machine learning models to
transform audio, video, and other data sources into actionable
intelligence. The company’s AI developer tools enable its customers
and partners to easily develop and deploy custom applications that
leverage the power of AI to dramatically improve operational
efficiency and unlock untapped opportunities. Veritone is
headquartered in Costa Mesa, California, and has offices in Denver,
London, New York and San Diego. To learn more, visit
Veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the Company’s patents, the
features and performance of its aiWARE Energy solutions and their
expected benefits to customers. Without limiting the generality of
the foregoing, words such as “may,” “will,” “expect,” “believe,”
“anticipate,” “intend,” “could,” “estimate” or “continue” or the
negative or other variations thereof or comparable terminology are
intended to identify forward-looking statements. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. Assumptions relating to the foregoing
involve judgments and risks with respect to various matters which
are difficult or impossible to predict accurately and many of which
are beyond the control of Veritone. Certain of such judgments and
risks are discussed in Veritone’s SEC filings. Although Veritone
believes that the assumptions underlying the forward-looking
statements are reasonable, any of the assumptions could prove
inaccurate and, therefore, there can be no assurance that the
results contemplated in forward-looking statements will be
realized. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by Veritone
or any other person that their objectives or plans will be
achieved. Veritone undertakes no obligation to revise the
forward-looking statements contained herein to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20201119005253/en/
Allison Zullo Walker Sands, for Veritone
veritone@walkersands.com 330-554-5965
Veritone (NASDAQ:VERI)
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