Taaleri Energia and Capalo AI sign an agreement for trading, optimization, and route-to-market for Taaleri's 30MW/36MWh BESS
Helsinki, 20.12.2023 — Taaleri Energia, a leading European renewable energy investor, and Capalo AI, a growth company focused on AI-driven BESS trading and optimization, announce a partnership to trade and optimize Taaleri’s 30MW/36MWh battery energy storage system in Finland. Capalo AI will trade the battery in all Finnish ancillary markets (FFR, FCR-D, FCR-N, aFRR, mFRR) and Nord Pool wholesale markets (Spot, Intraday).
Under this partnership, Capalo AI provides its turnkey trading, aggregation, and optimization service, leveraging its innovative AI technology to manage and optimize the 36 MWh battery. The service allows participation in all available revenue streams, ensuring maximal lifetime value for the asset.
Furthermore, the Capalo AI algorithms will trade the battery as a part of their VPP pool, together with other BESS assets. This provides further effectiveness in its scheduling and market participation, providing additional upside on revenues.
Taaleri Energia’s 30 MW/36 MWh battery is a significant commitment to green transition and a more stable electricity grid in the Nordics. The asset is part of Taaleri’s SolarWind III Fund.
“Renewable energy is the only sustainable way to achieve global climate targets. Storage facilities are needed in order to increase the share of renewable energy in the electricity grid further. This trading agreement with Capalo AI ensures our BESS investment will be utilized optimally on an hour-to-hour basis to help achieve these targets, “ said Aleksi Nordlund, Director Power Markets at Taaleri Energia
“We’re very pleased to start the partnership with Taaleri Energia, one of the leading clean energy investors, to maximize the value of their energy storage in a volatile and rapidly changing market environment. AI-based optimization and access to every revenue source are crucial in maximizing the lifetime value of a large-scale battery asset,” said Henri Taskinen, CEO of Capalo AI.
Taaleri Energia is a renewable energy developer and fund manager with one of the largest dedicated renewables investment teams in Europe. The team manages a 9.6 GW wind, solar and battery storage portfolio in Europe, the US, and the Middle East.
Taaleri Energia was ranked as a “Consistent Top Performing Infrastructure Manager” by Preqin in 2020, 2021, 2022 and 2023.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
www.taalerienergia.com
Capalo AI is a sustainable tech company that maximizes the value of energy storage systems across all markets. We combine the most accurate forecast data with cutting-edge AI models to optimize the trading of battery energy storage systems.
For more information, contact:
Aleksi Nordlund, Director Power Markets, Taaleri Energia, Tel. +358 504536290
Henri Taskinen, CEO of Capalo AI, Tel. +358 440369966
Riku Kukkonen, CSO of Capalo AI, Tel. +358 445469012
Lempäälän Energia has selected Capalo AI as the market optimization partner for its 4 MW BESS
Lempäälän Energia begins cooperation with the growth company Capalo AI, which offers trading, optimization, and aggregation services for energy storage, for the comprehensive optimization of the 4 MW battery storage in the LEMENE microgrid. Lempäälän Energia’s LEMENE microgrid is a unique, self-sufficient entity in the Nordic countries that utilizes renewable energy. The microgrid combines several forms of renewable energy generation and a 4.0 MW BESS into a smartly controlled system. In addition, the grid can operate as an islanded network thanks to the battery energy storage system.
Capalo AI’s artificial intelligence solution enables the LEMENE microgrid battery system to operate in multiple markets, contributing to maintaining the power balance of the grid and maximizing the battery’s revenue from grid balancing. Multi-market optimization allows the battery’s power to be offered to those marketplaces where the demand is highest at any given moment. This benefits both the battery owner, Lempäälän Energia, and all users of the electricity grid.
The electricity market is becoming increasingly fierce and complex with the green transition. Capalo AI’s fully automated AI-based trading models will keep up with the market changes. Trading strategies update constantly and automatically to achieve the best market returns. The optimization system also considers local network power tariffs and transmission charges in its overall optimization.
The cooperation between Lempäälän Energia and Capalo AI is a significant step towards a more stable and secure electricity network.
Mikko Kettunen, CEO of Lempäälän Energia:
“The electricity market has become more volatile in recent years, and consistently finding the right bidding strategy is key to maximizing the value of energy storage. We understand the competitive advantage of AI and machine learning in a rapidly changing market. We are excited to partner with an innovative growth company in this field.”
Henri Taskinen, CEO of Capalo AI:
“Energy storage plays a key role in maintaining the stability of the electricity system as society becomes more electrified and renewable energy production increases rapidly. This collaboration is an excellent demonstration of our commitment to meeting the needs of the future electricity grid and the role of intelligent optimization and artificial intelligence in maximizing the value of energy storage.”
Capalo AI is a sustainable tech company that maximizes the value of energy storage systems across all markets. We combine the most accurate forecast data with cutting-edge AI models to optimize the trading of battery energy storage systems.
“Lempäälän Energia Oy’s mission is to act as an energy production company and operator of the LEMENE energy system in the Marjamäki region. We produce district heat with biomass-based production in two different heating plants. Electricity is produced from solar power and a combined heat and power generation system. The electricity produced supports the Nordic electricity network, and with industrial-scale battery storage, we participate in balancing the national electricity network’s consumption and production. The municipality of Lempäälä owns Lempäälän Lämpö, and Lempäälän Lämpö owns Lempäälän Energia.”
Capalo AI raises 500.000€ and maximizes the revenues of Exilion's 6,6 MWh BESS
Capalo AI aims to make energy storage investments more desirable by optimizing their usage to the most profitable markets using its AI, forecasts, and real-time data.
KUOPIO, Finland (October 11th, 2023) Finnish energy tech startup Capalo AI has raised €500,000 in pre-seed funding. The funding round was led by Innovestor Tech Fund, with Inventure also participating. Capalo AI will use the funding to further develop its virtual power plant (VPP) and multi-market optimization AI, as well as scale up its team with talented mathematicians and cloud service professionals.
With the popularity and commissioning of renewable energy sources rising globally, the role of energy storage and flexible demand will be crucial in the green transition. The consumption and production of electricity have to be balanced at all times for a functioning grid.
Weather conditions make renewable energy production volatile, as it is never possible to completely accurately forecast how much electricity can be produced. Using advanced AI, Capalo AI can optimize the usage of flexible energy assets, such as energy storage systems and electric vehicle (EV) charging stations. Capalo AI’s technology allows the commissioning of weather-dependent renewable energy sources to grow rapidly by optimizing the flexibility of the energy grid to adjust to production and demand fluctuations.
This benefits national grids and Capalo AI’s customers, as the optimal bidding strategies maintain grid balance better and maximize the revenues of customers’ assets by stacking different revenue streams.
“Our solution simultaneously maximizes the value for our customers and accelerates the green transition. In addition, with multi-market optimization, national grids are able to sustain a steady electricity frequency. This means less of a need for reserve power plants that mostly use fossil fuels to produce electricity, which then leads to less carbon dioxide emissions,” says Henri Taskinen, CEO and Co-founder of Capalo AI.
Capalo AI is already working with Exilion Tuuli, a Finnish investment company and one of the largest wind energy producers in Finland. The company currently owns and operates thirteen wind farms around Finland and one 6,6 MWh battery storage and intends to continue to invest in increasing renewable energy production in Finland. Capalo AI has gotten significant traction in the whole Nordic area from future customers, and the company will soon start cooperating with its first Swedish partner.
“As one of Capalo AI’s first customers, we are happy to use AI-powered optimization services. With Capalo AI’s platform solution, we have managed to significantly increase the profitability of flexible assets in a complex operating environment,” says Tommi Riski, Investment Manager at Exilion.
Both Innovestor Techfund and Inventure see numerous possibilities in investing in AI-powered energy asset optimization. For example, in windy weather, the prices of renewable energy are low, and therefore, its financial benefit remains low, i.e., wind power becomes a less lucrative investment option. This has led to the construction of batteries next to the turbines, which enables the energy to be discharged into the grid more evenly.
“Armed with an excellent can-do attitude, robust educational backgrounds, and a passion for bridging the gaps between today’s grid challenges and tomorrow’s green aspirations, the team at Capalo AI truly impressed us. Having achieved such impressive results in a short time, we’re convinced the team is on the brink of something remarkable. Our investment in Capalo AI is not just a financial decision; it signifies our commitment to a brighter, sustainable future. Together, we’re not merely participants in the green transition; we’re setting the pace,” states Petri Laine, Partner at Innovestor Venture Capital.
Taskinen sees significant future growth opportunities for improving the optimization and flexibility of renewable energy.
“There are around 1,400 wind power plants just in Finland, and substantially more on the horizon. To enable the commissioning of new renewable capacity, we need all the available flexibility on the grid. Furthermore, there is a lot of untapped potential flexibility in many sectors, for example, on the EV charging side. Our platform taps into these new revenue streams for unutilized assets and simultaneously accelerates the green transition,” Taskinen concludes.
Capalo AI is a sustainable tech company that maximizes the value of flexible assets and energy storage systems across multiple markets. We combine the most accurate forecast data with cutting-edge AI models.
Innovestor is a Finnish investment company focusing on venture capital and real estate. In addition, we offer corporate venturing services. The firm currently manages four VC funds with total capital of over €200 million. Consisting of almost 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make good money. For more information visit www.innovestorgroup.com.
Inventure is the early-stage VC that knows how to get Nordic and Baltic founders to the next level. With €377 million under management, we thrive in moments where there’s plenty of uncertainty, backing over 90 portfolio companies including Wolt, Swappie, and aiMotive in their first rounds of investment. Meet us at our offices in Helsinki and Stockholm, or at an event near you. Find out more at inventure.vc
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Christina Brester joins Capalo AI as Lead AI Scientist
We’re thrilled to announce that Christina Brester (PhD.) has joined Capalo AI as Lead AI Scientist!
Christina has a substantial research background, having published over 50 publications. In her PhD., she utilized machine learning models for epidemiological analysis. Her other works include, for example, speech analysis, water research, energy systems, and electricity networks.
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Welcome to the team, Christina – we’re excited to have you on board!
We’re thrilled to announce that Christina Brester (PhD.) has joined Capalo AI as Lead AI Scientist!
Christina has a substantial research background, having published over 50 publications. In her PhD., she utilized machine learning models for epidemiological analysis. Her other works include, for example, speech analysis, water research, energy systems, and electricity networks.
Welcome to the team, Christina – we’re excited to have you on board!
We’re thrilled to announce that Christina Brester (PhD.) has joined Capalo AI as Lead AI Scientist!
Christina has a substantial research background, having published over 50 publications. In her PhD., she utilized machine learning models for epidemiological analysis. Her other works include, for example, speech analysis, water research, energy systems, and electricity networks.
Welcome to the team, Christina – we’re excited to have you on board!
Capalo AI Selected for PwC's Nordic Scale Program to Accelerate Growth and Expansion
Capalo AI is thrilled to announce that we have been chosen to participate in the prestigious PwC Nordic Scale Program. The program is designed to provide cutting-edge Nordic startups with the resources and support necessary to scale their businesses faster and more effectively.
Out of more than 400 applicants, Capalo AI is one of only six scale-ups selected for this unique opportunity. Over the course of six weeks, the program will offer us access to PwC’s extensive network of corporate decision-makers, budget holders, and influencers to build commercial opportunities and develop effective routes to market. Additionally, the program features virtual cohort-wide sessions with PwC and external subject matter experts to explore areas of support, covering key go-to-market topics such as marketing strategy, B2B sales, pricing, and demand generation.
By participating in PwC’s Nordic Scale Program, Capalo AI aims to leverage the expertise and connections provided to accelerate our growth journey, enhance our product offering, and expand into new markets. The opportunity to work closely with PwC and their industry experts will enable us to scale up our AI-driven energy optimization algorithms for the markets and better understand the challenges faced by various stakeholders in the energy sector.
Capalo AI is proud to be among the elite group of innovative startups in the Nordic region selected for this program, and we look forward to collaborating with PwC and other pioneering scale-ups to revolutionize industry and create a more sustainable future.
Capalo AI is part of the PALO program
We are delighted to announce that we are part of Innovestor’s PALO program.
PALO is the program for the most promising sustainable tech founder teams & startups with a burning desire to make an impact. We will work with top-notch mentors and the most valuable corporate partners for three months. The work will culminate on Deal Day, where we will pitch our progress to a group of investors.
“Innovestor PALO is the perfect match for us both in terms of sustainability themes and top-class corporate partners. We can’t wait to get started with the program,” says Henri Taskinen, CEO of Capalo AI.
About Innovestor:
Innovestor is one of Nordic’s leading venture capital companies and corporate venturing service providers. They also invest in commercial real estate.
The firm currently manages four VC funds with total capital of 190M. Consisting of almost 100 growth companies, it represents one of the largest private venture-backed portfolios in the Nordics.
Capalo AI has joined NVIDIA Inception
The program empowers the World’s Most Innovative Startups and helps them develop their solutions. NVIDIA Inception is one of the largest startup ecosystems in the world, and we are proud to announce to be part of it.
The Inception program is designed to accelerate the growth of startups through access to cutting-edge technologies and industry knowledge. This enables Capalo AI to collaborate with industry experts and develop our solutions further.
“NVIDIA Inception is a great opportunity to access advanced hardware and computational environments needed for our cutting-edge solutions. Additionally, NVIDIA’s vast expertise on computational fields enables extensive collaboration”, says Henri Taskinen, CEO at Capalo AI.
Jyrki Saarinen joins Capalo AI Board Of Directors!
Jyrki Saarinen strengthens Capalo AI’s board. He has strong international high-tech business experience after founding and growing Heptagon to almost a unicorn (exit valuation of 920 MUSD instead of 1 BUSD) and spending seven years in Silicon Valley followed by several new board positions in Finnish startups and SME’s and helping a couple of new companies to successful international exit. In the past, he has also studied machine learning under the supervision of Teuvo Kohonen and collaborated with another pioneer in the field, Erkki Oja.
“I’m excited to refresh my interest in machine learning and join a group of highly talented experts. Capalo AI is a kind of software version of Heptagon’s hardware business, where the startup holds leading know-how of technology, which we will hear and experience for years to come. We have both the option for multiple fields of business, but also the challenge, how and where to find the first killer applications, then the second applications for major growth etc.”, says Jyrki Saarinen.
