Vireo Energy

Vireo Energy

Vireo Energy is helping to reduce costs and improve the reliability of green hydrogen via accurate AI-driven forecasts, and customised algorithms at production

Company Details

Location
Melbourne, Australia
Website
http://www.vireo.energy/
Email
contact@vireo.energy
Founded
2023
Employees
1-3
Funding
USD $10K-$100K
Fundraising
Not Fundraising

Management Team

Steven Percy avatar

Steven Percy

Joe Sealey avatar

Joe Sealey

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About Vireo Energy

The problem we're solving:

Electricity accounts for about 60% of the cost of hydrogen production. Energy costs can be reduced by allowing facilities to trade in the wholesale electricity market. Currently, no solution exists to allow this type of operation. If a facility is powered by intermittent renewables, it may face periods of reduced or halted production due to gaps in energy supply, hindering the facility's ability to meet its offtake delivery commitments and leading to contractual penalties and reputational risks

Our solution:

Vireo Energy offers a novel solution that applies accurate AI-driven forecasts, customised algorithms, cloud-based model predictive control, and a hardware interface to reliably and cost-effectively operate and forecast hydrogen production, hydrogen storage and balance of plant.

Our differentiator:

Our system can save a 10MW hydrogen production facility about 20% of its electricity costs, increase reliability, and report on emissions under the Guarantee of Origin Scheme.

Our biggest achievement:

Completed Melbourne University MAP Velocity Program and fully operating MVP. Numerous hydrogen industrial partnership agreements are currently being negotiated.