Sonasoft Corp (SSFT) announces that its artificial intelligence (AI) Platform, NuGene, won a POC project with large utility company based in the East Coast.
San Jose, California – October 22, 2019, Sonasoft Corp. (OTCQB: SSFT), a leader in innovative artificial intelligence (AI) and data management solutions, today announced that it has won a proof of concept (POC) project with Delaware Electric Cooperative for the Company’s artificial intelligence (AI) solution, NuGene. The electric utility company will use Sonasoft’s AI solution to accurately predict peak usage and minimize implementing load control measures. This will allow the utility company to further reduce costs, increase customer satisfaction, and deliver reliable power to its customers.
Sonasoft’s POC will utilize NuGene to tie in accurate real-time weather variables including temperature, humidity, sunlight intensity, wind velocity, atmospheric pressure and, storm paths, along with historical data of electric consumption, to accurately forecast electric consumption. This will allow the utility company to accurately predict consumption and to better manage energy usage during peak periods.
According to Bill Andrew, Delaware Electric Cooperative’s President and CEO, “As a progressive utility, DEC is always looking to leverage the most advanced technology to control costs. This partnership with Sonasoft will help our Co-op continue to offer affordable and reliable power to more than 100,000 homes and businesses in Delaware.”
When electric peaks occur, utility companies often implement load control measures that encourage customers to save electricity during peak hours by not running major appliances, turning down their HVAC units, and other immediate measures. Utility companies that have not accurately forecasted surges in electric consumption often find they have to purchase electricity at rates that are extremely expensive just to keep up with the immediate demand. These unexpected costs could cost millions of dollars.
Electric utility companies strive to minimize the number of times to implement load controls to minimize purchases during peak consumption periods. This allows the utility company to be efficient, keep its customers happy, and pass on the savings back to its customers.
“It is very important for electric utility companies to be able to predict their usage especially during peak periods,” said Ankur Dinesh, Sonasoft’s Chief of Artificial Intelligence (AI). “Unlike other AI platforms that require up to 6 months to train and validate their models, NuGene allows any business to leverage AI in just a few weeks.”
Sonasoft’s AI solution NuGene can be applied to any use case, in any industry, with any sort of data. The flexibility of Sonasoft’s approach is the expertise it has in data science, coupled with the unique way NuGene analyzes raw data.
Based in Silicon Valley since 2003 Sonasoft is a public company (SSFT) providing solutions that create significant competitive advantages from data, the most valuable corporate asset in the digital economy. Our artificial intelligence solution and software capabilities harness data to enable businesses to accelerate and improve decision making, increase operational efficiency, and automate critical processes.
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This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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