The year was 2010. Nitin Tanwar was working in London at Cargill Corporation’s Energy Trading Vertical. It was during this period, he was struck by an idea of starting a Data Oriented Business for new markets that would support the world for the next decade. However, this dream of his could not be made effective inside a large corporation due to various constraints. Naturally, Nitin decided to step out and start his own venture, which he named as Climate Connect. Over time, during a visit to France, Nitin met one of his friends who had a PhD in Artificial Intelligence (AI). It was during this Coffee Table discussion he realized the scope of AI Deep Learning Algorithms that could revolutionize the entire energy market. This boosted his confidence to build information platforms and AI driven models that provide data, analytics and forecasts to businesses in energy markets worldwide.
As a first generation entrepreneur, Nitin came across several challenges during his initial years; challenges which mostly involved convincing investors who were new to this technology. “At first, we were not able to raise any funds for the primary two years of our company’s establishment. Investor’s in India were more attracted to eCommerce type of businesses. Added to this, we relied on outsourcing technology functions to make the first version of our product. But, in 2012, after Sanand Sule, Co-Founder & CTO joined us on board, we evolved technically and this gave our company a massive boost,” he speaks.
After this, within a few months, Climate Connect was able to forecast prices to a high degree of accuracy. Throwing light on, Nitin adds, “As most energy industries were still using econometricians for such work, it used to take them years to prepare a model. Slowly over time they started accepting our AI model because of the accuracy and reliability. Hence, we were able to gradually scale up in the market with ease.”
Blend of AI & Energy
Climate Connect is proud of its expertise. The Data Scientists at Climate Connect understand dynamics of energy sector while our Market Analysts understand AI algorithms and Databases well allowing us to perfectly blend energy and AI to solve industry problems. Furthermore, their strong domain knowledge has helped them cast an Intellectual Property (IP) that is highly suited to energy customers. Being renowned internationally and operating in India, the US, Europe and China markets, Climate Connect’s team has 5 nationalities allowing them to transfer IP development and tests from one market to other quickly.
Explaining about their flagship product, Nitin says “Our product called ‘Electricity and Gas Learning Engine’ (EAGLE) has its application across energy sector, namely Power Plant, Energy Traders, Energy Consumers. As we have developed Machine Learning Algorithms suited for each component, our customers can choose to buy entire software or component depending on their role in the market.”
Climate Connect’s presence is found across energy sectors and few of their clients include - GMR Energy, ACME Solar, NTPC, Chevron, SHELL, Government of California and Government of Ontario.
Adding Value to Business
Climate Connect has a board of advisors that consists of experts in energy, technology and AI. Their board has serial entrepreneurs in technology, highly rated academics and professionals who have retired from top echelons of Energy Industry. “We hope that we shall be able to scale up use of AI driven software’s we have built over past two years in Indian and European markets. Currently our software’s manage around 10 GW worth of power assets (generation, demand or trading side). We hope this figure will reach 100 GW over next few years,” concludes Nitin.
The Data Scientists at Climate Connect understand dynamics of energy sector while our Market Analysts understand AI algorithms and Databases well allowing us to perfectly blend energy and AI to solve industry problems