On February 13, Tina Skagen, COO of eSmart Systems had the honor of giving a presentation at the Norwegian government’s summit on higher education and job relevance.
The background for the summit is a parliamentary report initiated by the government on job relevance in higher education. In the meeting, both SME’s and large corporations were represented, as well as universities and colleges and policy makers.
This was a great arena to talk about the importance of a strong relationship between the business community and universities, and how it impacts Norwegian companies’ competitiveness internationally
said Skagen
Her presentation focused on the importance of talented graduates and a continuous innovation ability for Norwegian companies to create and retain a competitive advantage in an international arena.
eSmart Systems is an AI company. We need graduates with expertise in AI, but also candidates with combined knowledge of energy-specific domains and machine learning. Increased flexibility in the education that allows more interdisciplinarity on masters, for example, we believe is something that will contribute to the master students’ relevance in working life
said Skagen
During the summit, Skagen seized the opportunity to invite Minister of Digitization Nikolai Astrup to Halden.
We would like to showcase the unique environment in Halden with eSmart Systems and the business cluster NCE Smart Energy Markets. We believe that this will be of great interest to Norway’s Minister of Digitization in the important work he will do for Norway in this field
said Skagen
Austin, Texas, January 28, 2020 – eSmart Systems, Xcel Energy and EDM International announce the first phase of a strategic initiative to deploy AI-based Collaborative Intelligence for 3,300 miles of Xcel’s transmission lines to dramatically improve inspection processes with the goals of improving asset information, reducing operational costs, decreasing failure rates, and extending asset life.
The Collaborative Intelligence approach will allow Xcel to adopt eSmart’s AI-based analytics into their existing business processes, to analyze imagery data of transmission assets collected by Xcel’s Unmanned Aircraft Systems (UAS) and manned helicopters and validated by EDM’s subject matter experts, to prioritize transmission line operations, identify defects, and update asset information in Xcel’s asset management systems.
eSmart Systems is pleased to partner with EDM to bring its Collaborative Intelligence approach to help Xcel Energy use UAS data collected by Phoenix Air Unmanned. We see this project as helping utilities to practically bridge the gap in transition from today’s largely manual processes to the world that leverages digital technology such as AI and UAS images for grid inspection and asset management
Through this partnership, we will significantly improve the speed, safety, accuracy and cost of power grid inspections and deliver value by updating information on critical infrastructure assets. The utilization of our Collaborative AI enables us to transform today’s inspection practices by delivering enhanced mission critical information with reduced risk
Collaborative Intelligence
The Collaborative Intelligence approach efficiently and reliably combines the human intelligence of EDM’s T&D subject matter experts with AI-based analytics by eSmart Systems to analyze aerial images captured by Unmanned Aircraft Systems and manned helicopters. This project is seen as a key linchpin transitioning from today’s manual grid inspection practices to a process that uses the optimal combination of humans, AI and aerial images to more efficiently inspect grid systems, reduce failure rates, and extend asset life.
Xcel Energy’s work on unmanned aircraft systems with our numerous partners demonstrates that collaboration benefits customers, the economy and the environment,” said Kent Larson, Executive Vice President and Group President of Operations for Xcel Energy. “Our company is an industry leader in using UAS technologies for transmission and distribution line inspections. We look forward to working with eSmart Systems and EDM to improve the safety and reliability of the energy grid.
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eSmart Systems today announced a successful capital raise of 18 MUSD. Equinor Energy Ventures leads the round joined by Nysnø Climate Investments (Norwegian sovereign wealth fund) and existing eSmart shareholders, including Kongsberg Digital.
We are thrilled to have these companies onboard as new shareholders and growth partners to fulfill our common ambition to propel eSmart Systems onwards and upwards to the number one global enterprise in our market. This successful funding process gives us an excellent platform to fully unlock this potential
eSmart Systems is a pioneer in developing AI-products based on machine learning technology that automatically identifies and extracts relevant information from image and IoT-device sources. This includes, for example, power grid infrastructure inspections with automatic detection of grid anomalies and peak load predictions based on smart meter data.
We regard this to be a strong investment case for the Equinor Energy Ventures fund, backed by a management team with proven track record. eSmart is also a knowledgeable partner for the wider Equinor when it comes to data analytics and machine learning with obvious synergies on data platform architecture and energy infrastructure inspection
Positioned for international expansion
The funding provides substantial strength to accelerate development of eSmart’s AI-technologies and their application to the energy industry. A potential second closing will be considered.
We are very excited about supporting a world leading Norwegian cleantech company in its international expansion. The combination of strong competencies within AI and data analytics, and their experience within the energy field positions eSmart’s products to address some of the key challenges related to future global energy systems
Strong partnerships are the future of business. Bigger muscles, broader knowledge and the right combination of partners will enable eSmart Systems to realize the vast potential of their solutions, and we look forward to seeing what we can create together
For the last 4 years, eSmart has worked intensively to develop applied AI for the energy industry based on its industrial-grade, scalable cloud AI-architecture.
Over the last year, we’ve had outstanding market response to our two main product areas – power grid analytics focused on automatic component and defect detection using deep learning, as well as our energy flexibility software that increases the utilization of distributed energy resources though AI-powered analytics
ABOUT
ESMART SYSTEMS. eSmart Systems provides AI driven software solutions to the energy industry and service providers. Their cloud born platform is designed to handle and exploit IoT, Big Data and Analytics in real time. Among eSmart Systems’ customers are the world’s leading transmission and distribution system companies in Europe and US, as well as prominent utilities and energy retailers.
EQUINOR ENERGY VENTURES. Equinor’s 200 MUSD venture capital fund was launched in February 2016. With a team in both Europe and North America and a long term approach, the fund is dedicated to investing up to 20 MUSD in attractive and ambitious growth companies in renewable and low carbon energy technologies, supporting Equinor’s strategy of growth in new energy solutions.
NYSNØ. The Norwegian sovereign wealth fund geared toward climate investments is set up as a commercial company that invests in technologies that reduce greenhouse gas emissions. Nysnø invests alongside private investors looking for profitable, climate friendly investments. Established in December 2017, by the Norwegian Ministry of Trade, Industry and Fisheries, Nysnø´s investment mandate is described in the national budget for 2018. Nysnø is based in Stavanger, Norway and has been operational since mid-2018.
KONGSBERG DIGITAL. Kongsberg Digital is a provider of next-generation software and digital solutions to customers within maritime, oil and gas, and renewables and utilities. The company consists of more than 500 software experts with leading competence within the internet of things, smart data, artificial intelligence, maritime simulation, automation and autonomous operations. Kongsberg Digital is subsidiary of KONGSBERG (OSE-ticker: KOG), an international, knowledge based group delivering high-technology systems and solutions to clients within the oil and gas industry, subsea, merchant marine, defence and aerospace. KONGSBERG has 7.000 employees located in more than 25 countries, creating a total revenue of NOK 14.5 billion in 2017.
ADVISORS
To eSmart Systems:
- Financial Advisor: DNB Markets
- Legal: Advokatfirmaet CLP DA
To Equinor Energy Ventures and Nysno:
- Financial and tax due diligence: Deloitte – Nikolai Maldan
- Legal due diligence and negotiation: Haavind – Kjetil Hardeng and Andreas Vik.
To KDI:
- Legal: Thommesen
Dang Ha The Hien, Data Scientist at eSmart Systems, defended his PhD degree at the University of Oslo, Department of Informatics, November 23rd, 2018.
The thesis “Big Data Analytics for the Future Energy Systems” provides a deeper understanding of the current power grid system, its transition to the smart grid, and the role of big data analytics in the process. After a well-executed dissertation in Oslo, Hien was congratulated by colleagues from eSmart Systems and representatives from the university.
About the the thesis
Big data Analytics for the Future Energy System
We are living in a world that is being shaped by algorithms, especially learning ones. Every one of us is experiencing the ever-increasing influence of learning algorithms on our daily behavior. For instance, 35% of Amazon product sales results from its recommender system, 75% of viewer activity in Netflix is driven by its recommendation engine, 70% of all trades in American markets is the result of algorithmic trading, and 40% of the prices of the 10,000 top products on Amazon is determined by a pricing engine that learns to set the product price based on customer demand, competitors prices, and other factors. The world will continue to be transformed by programs that are not written by us, but by learning machines that are trained on Big Data. With the appearance of these big data technologies, together with the recent development in networking infrastructure and sensor technologies, the human society is potentially witnessing the most significant change in the electricity value chain since its beginnings: the emergence of the future energy system, or better known as the smart grid.
This thesis provides a deeper understanding of the current power grid system, its transition to the smart grid, and the role of big data analytics in the process. By showing that the amount of data generated by a household in a smart grid is roughly equivalent to a Facebook user, or 0.3MB per day, the thesis emphasizes the big data challenge as well as how big data technology is needed to fuel the organic growth of a smart grid. This recognition leads to the proposal of Graph of Virtual Actors, a Big Data Analytics architecture for IoT (Internet of Thing) applications like smart grid. Furthermore, to demonstrate the potential of applying big data technologies in smart grid, the thesis proposes and experiments various novel and effective methods for automatic short-term load forecasting and automatic consumers segmentation.
Facts
- Faculty: Mathematics and Natural Sciences
- Department: Informatics
- Area of Expertise: Data Analytics – Machine Learning
- Supervisors:
- Professor Olaf Owe, Department of Informatics, University of Oslo
- Associate Professor Jan Roland Olsson, Østfold University College
The Faculty of Economics and Management at University of Oslo has appointed the following adjudication committee to evaluate the thesis:
- Professor Erik Dahlquist, Mälardalen University, Sweden
- Professor Mohan Lal Kolhe, University of Agder, Norway
- Senior Researcher Lizeth Tapia Tarifa, Department of informatics, University of Oslo
Tuesday, eSmart Systems marked the end of the three-year research and innovation project Connected Drone. At the same time we kicked off a new project together with 17 power grid companies
What we see here today is the result of a fantastic team effort. Together we have managed to create a product that innovates the power grid industry
The product he is talking about is an intelligent assistant that combines artificial intelligence with machine learning to detect faults and weaknesses in the grid using image recognition and drones. 12 power grid companies have been partners in the project, as well as a number of technology partners.
Cooperation is essential for success
When Connected Drone embarks on a new three-year R&D project, it focuses on further developing the product. The intelligent assistant will be further developed based on artificial intelligence of inspection data from drones and other sensors in the grid. Currently there are 17 Norwegian power grid companies participating in the project.
To achieve the results we want, input from the power grid companies along the way is very important to us
Involvement and cooperation with partners will be important also in the continuation of the project.
Lyse was one of the partners in Connected Drone 1, and we would like to accompany on the journey of this project. For us, it is especially the development of IT systems, algorithms and artificial intelligence that is exciting
Torgersen Ravndal also points out that the collaboration eSmart Systems has with the Civil Aviation Authority and other actors in the drone community are central to the project.
I think it’s important that we work systematically with this in the future for drones to be an important tool
she concludes
eSmart Systems is a part of 100ScaleUPs, an accelerator program hosted by the Norwegian Business School together with Martin Trust Center for MIT Entrepreneurship in Boston.
eSmart Systems is one of eight Norwegian scaleups that attend the program this fall. The past week the management team of the companies have learned scaling strategy directly from Bill Aulet, managing director of The Martin Trust Center, as well as from entrepreneurs in residence at MIT, and selected investors and well-known entrepreneurs, among them LinkedIn co-founder Reid Hoffman, who last week released his book called Blitzscaling.
One of my key teakeaways from this week is the importance of learning from people who has been through this several times before. It takes away the gap between theory and practice. We need hands on advice, and we need tools to make the decisions we have ahead of us. The week at MIT has really come through in this sense
– A great opportunity
The eSmart Systems team will take all lessons learned first to Seattle where a strategy workshop with eSmart Systems Inc awaits, and then back home to Norway, to glue together the US and Norway operations, and be able to increase speed and output of the company’s efforts going forward.
We have had a great week here in Boston and learned a lot of do’s and don’ts when it comes to effective international scaling strategy
This program is a great opportunity to work with world class faculties and business mentors in our scaling strategy. Now we look forward to converting this into eSmart Systems growth strategy and plan for the next two years
he continues
100ScaleUPs focus on developing and verifying an effective international scaling strategy and is tailored to scaling challenges with international growth ambitions. The program runs for 12 weeks and the goal is for the companies to build their scaling strategy during the course of the program
During the Research Days at the end of September, students from Halden High School learned about eSmart Systems and what it’s like to work in a technology company.
Together with Smart Innovation Norway, Nordic Media Lab, IFE and Østfold University College, eSmart Systems invited the “Digital Design and Technology” class from Halden High School to Halden Innovation Park last week.
– Very interesting
The initiative is taking place in connection with Research Days 2018. The group who visited gained an insight in what role new technology will play in future smart cities. At eSmart Systems they got to see how we work with drones and artificial intelligence to improve infrastructure inspections.
We have learned a lot of small things I did not know before, for example, about the drones of eSmart Systems used for automatic maintenance of powerlines. We have learned what the various companies are doing, and an insight into what job opportunities we have after completing education. It was very interesting
– Need young, curious people
The day was completed at the IT department at Østfold University College where the students got to see the robot lab and Makerspace.
Big parts of the society are being digitized increasingly. We need young, curious and creative people who take responsibility for a sensible introduction in the coming years
The Horizon 2020 project INVADE is one of the largest European research and innovation projects in the field of smart grid, charging and energy storage. INVADE had its final review in Brussels earlier this year, which marked the successful completion of the prestigious three-year R&D-project.
This has been an innovative and exciting journey for us at eSmart Systems. Through the project, we have developed a new flexibility platform that has been tested and used by all the pilots in the project. It is also in use by some of our customers outside the INVADE project. The platform is branded as Connected Prosumer
Largest Norwegian-led EU Project
The European Union has set ambitious goals for reduction of greenhouse gas emission and for increase of renewable energy share. It is these global challenges that were the driving force for initiating the project.
The INVADE project is to date the largest Norwegian-led EU project within energy, consisting of 12 European partners, of which 5 are Norwegian. The result: a brand new cloud-based flexibility management system that changes the way energy is produced, consumed and stored.
“INVADE has proven that today’s technologies and solutions can be utilized in new ways. There has been a strong focus on innovation of component integration and technology adaptation
throughout the project. We have combined IoT-devices and big data management with digital intelligence through machine learning models and advanced optimization methods. The result is a powerful tool that can be used in several contexts,” explains Stig Ødegaard, Head of R&D at eSmart Systems.
The Integrated INVADE Platform
eSmart Systems is the provider of the Integrated INVADE platform which is used by all five pilots. The platform, which is hosted in Microsoft Azure, finds the optimal way to use the available energy flexibility at the pilot sites. It visualizes and predicts available flexibility, optimizes how it should be used, and sends the optimized plans to individual controllable devices at the pilot sites.
“The whole project group has cooperated well and worked together towards a common goal - we have gained valuable insight by cooperating closely with the project partners,” adds Lundby.
Successful Pilot Stories
The pilots in INVADE have in different ways explored the potential of energy storage at various levels in the distribution grid. The three-year R&D project has resulted in successful pilot stories for all the five pilots:
- Albena AD in Bulgaria
- Estabanell Energia in Spain
- GreenFlux and ElaadNL in the Netherlands
- Lyse in Norway
- Badenova in Germany.
Learn more about the pilots here.
INVADE partner companies
Smart Innovation Norway AS (NO, coordinator), Universitat Politècnica de Catalunya – CITCEA (ES), Norwegian University of Science and Technology (NO), Teknologian tutkimuskeskus VTT oy (FI), Badenova AG & Co. KG (DE), Albena JsCo (BG), Schneider Electric Norway AS (NO), Lyse Elnett AS (NO), Estabanell y Pahisa Energia, S.A. (ES), ElaadNL (NL) and GreenFlux Assets B.V. (NL) and eSmart Systems AS (NO).
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When the Danish electricity distribution company nef Fonden decided to install new smart meters on Nordøstfyn, eSmart Systems was chosen to handle all the collected data – and make sure that the company gets the most out of the information.
Through a recent EU tender, nef Fonden (a midsized Danish electricity company located in Kerteminde on the island of Funen) announced that they needed new smart meters for their 16 700 meter points – to uphold the law and new regulations in Denmark.
They wanted to buy new NES meters, but they also wanted to get the most out of these meters. That is why eSmart Systems was brought into the picture. Today, we have signed an agreement with both OneCo Elektro and the customer, nef Fonden
Unique possibilities
The system solution as a whole will be delivered by OneCo Elektro AS, with eSmart Systems as a subcontractor. The agreement entails 16.700 NES smart meters to be installed on Nordøstfyn, including associated IT applications, and lasts for 15 years.
The solution provides nef Fonden with the opportunity to read the meters through IP communication, in real-time, which will provide unique possibilities.
With the IP solution, we can offer our consumers new services. Real-time data opens for optimization of our day-to-day operations. In the long run, it will help us plan necessary investments and enable us to handle future changes in consumer patterns
Smart app for end-users
eSmart Systems role will be to handle all the data which is collected from the smart meters, get more out of it and find synergies.
In this new world where big data is a must; the electricity companies belong to the sector that generates the most data – which is why they need to invest in better software. Our job is to validate all the meter data, estimate missing values, ensure quality and make sure the information reaches the data hub. In addition, we have a great platform for optimization and making the process more efficient
comments Haar
He emphasizes that this job is important to eSmart Systems, because it sets a new standard for what the company wants to get out of the meters.
Enters the Danish market
It takes the many years of experience and high-quality work we have been doing in Norway and introduces this to the Danish market
says Haar. He adds:
Even though there are many differences in how we operate the grid, there are also parallels between the Norwegian and Danish power market. We can find synergies and benefit from these. It will show some of the Danish utilities all the great things that is possible on the new big data platform.
Haar believes eSmart Systems was chosen for the job due to the new technology, the quality and the platform that the company represents.
This is not a legacy system, we do not have on-premise old technology; we want to get the most out of the meters. In addition, we seek to exploit the possibility for real-time data and sensors combining heat and water,
he points out
Involving the end-user
The new collaboration will ultimately benefit the end-user. Haar reveals that up to 40 percent of today’s normal consumption is wasted, which has a significant impact on the world’s CO2 levels and climate.
We want to get the customer much more involved than today, to inform and enlighten about consumption and possible waste. If we can make it more interesting and easier for the end-user, I think they will get much more involved. That is why the aspects of gamification and user-friendliness is so important in the new app, to make sure that the end-user wants to participate
explains eSmart’s SVP
About nef Fonden
nef Fonden was founded in 1967 as I/S Nordøstfyns Elforsyning. In 2000, the mother company became a fund. Today, nef Fonden owns three subsidiaries: Ravdex A/S, nef Strøm A/S and nef Fiber A/S. The group employs 35 people which operate in different business areas:
- Ravdex A/S has 16 700 meter points
- Ravdex A/S owns and operates more than 930 kilometers of electric cable
- nef Fiber A/S owns and operates more than 2 559 kilometers of optical fiber tubes and cables
- nef Fiber A/S offers fiber networks to 17 000 houses on Nordøstfyn
- nef Strøm A/S delivers electricity to 13 000 customers in Denmark
About OneCo Elektro
- OneCo Elektro AS is part of the Norwegian industrial group OneCo AS, with its core activities focused on the oil and gas sector, infrastructure, industry, renewable energy and construction.
- OneCo currently employs about 750 people, has an annual turnover of about NOK 1.2 billion, and is located in Kristiansand, Sandnes, Bergen, Oslo and Drammen
About NES
- The NES System is an award-winning smart grid infrastructure solution, based on Open Smart Grid Protocol (OSGP).
- NES’ smart grid technology is used in nearly 40 million smart meters and other smart end devices around the world.
- NES offers industry leading security built into its three tier Patagonia Platform.
- The most reliable smart metering solution in the industry, delivering >99.8% daily availability of meter data.
- The NES System offers a unique power line technology that enables grid mapping, automatic topology management, and many more low voltage grid applications.
- NES has more than 100 existing smart metering / smart grid projects and pilots in more than 25 different countries.
Celebrating the International Women’s Day (IWD) on March 8, the Norwegian tech networks ODA and Abelia have crowned Norway’s 50 most successful tech women.
Among them, we can find our very own Director of Business Development and Business Area Manager of Energy Markets & City, Tina Marie Skagen.
I was stunned when I received the phone call, because I never thought I stood a chance
exclaims Skagen – smiling
Two for two
Last year, eSmart Systems’ Elisabeth Brevik Karlsen was on the list of Norway’s most successful IT women, which means eSmart Systems has made the prestigious list twice in two years.
Abelia and ODA widened their search this year and have looked for outstanding women in the entire tech industry. The 50 recognized women are divided into three categories; leaders, entrepreneurs and technical managers.
Skagen has been recognized as one of the country’s most thriving technical managers. And even though she did not believe it at first, she admits it means a lot to her:
Of course, I am happy and proud. It is cool to be a part of putting eSmart Systems on the Norwegian technology map
Read also: Tina featured in the Norwegian newspaper, Fredriksstad Blad.
Finds unknown talents
The jury consisted of six competent and diverse business leaders, chairmen and researchers, and the criteria for making the list were as follows:
- All candidates must work in businesses which create value, not in the public sector
- All candidates must work with tasks which create value, like sales and/or production
Every candidate has been nominated anonymously and it has been open to anyone to nominate candidates since the beginning of January.
“The goal of the competition is to make all the female talents within technology more visible, and so the jury’s goal has been to find candidates that are relatively unknown to most people”, explains Kristine Hofer Næss, chairman of ODA.
Strong decision-maker
Skagen’s work at eSmart Systems have varied during her three years at the company, and now she is in charge of the business area Energy Markets & City.
Her days consist of coordinating sales and deliveries, shaping the products, meeting with customers, talking to people and her creating a good environment within her team.
“But I think perhaps my most important job is making difficult decisions and making sure we always move forward”, notes Skagen.
Making a difference
When asked why she believes she has been chosen as one of the top 50 tech women in the country, Skagen emphasizes that such a recognition would never be possible without having great colleagues.
“First of all, I work in a company that has made an impact – both nationally and internationally. Second, someone has been kind enough to nominate me. And lastly, I hope it is because I have contributed to making a difference while working here, she humbly proposes.
About Tina Skagen
Tina holds a M.Sc. in Strategy and Management from Norwegian School of Economics and Business Administration. In 2008, she completed the Norwegian Entrepreneurship Program in Boston as a part of her master’s degree. In 2015, she participated in the program Innovation Management in a Global Business Perspective at the Norwegian Business School. Over the past years, Tina has held positions as Business Controller and Project Manager at different Norwegian corporations.