Pelmorex Corp. Unveils AI-Powered Advanced Weather Modeling Built for Energy Traders
Canadian company's Gaia Energy delivers weather forecasts
18X faster and more accurately than existing technology on the market
OAKVILLE, ON, Oct. 15, 2024 /PRNewswire/ - Pelmorex is proud to introduce Gaia Energy, a cutting-edge predictive weather forecasting solution developed for energy traders, poised to revolutionize weather predictions and analysis within the natural gas, electricity, agriculture and weather derivatives space.
Powered by Gaia, Pelmorex's proprietary Deep Learning Numerical Weather Prediction (DLNWP) model provides advanced predictive modeling, real-time weather insights, historical weather data, and customizable data visualizations. These tools enable energy traders to make informed and strategic trading decisions faster and with greater accuracy, giving them a competitive market advantage.
"This is a revolution in how weather forecasts are made. Instead of using traditional methods that are based on the laws of physics, our model learns from observed weather data, producing more accurate forecasts and eliminating the consistent errors found in traditional models," said Chris Scott, Chief Meteorologist, Pelmorex Corp. "The greatest advantage is that this AI model can run in a fraction of the time, providing critical weather updates sooner than anyone else."
Gaia Energy was developed in collaboration with energy industry specialists and leverages the latest advancements in artificial intelligence (AI). It provides traders with the insights they need to shift from a reactive to a proactive approach, faster than any existing weather models on the market. Key features include:
- Speed: Delivers forecasts 18X faster and more accurately than the world's top conventional models. Energy traders will receive weather insights an hour ahead of the market
- Unmatched accuracy: The first commercially available AI-based weather forecasting product focused on driving outcomes in energy markets, proven to outperform all conventional weather models
- Profit potential: With ultra-fast speeds and highly accurate AI-powered weather insights, Gaia Energy gives users the competitive edge to make smarter decisions
- First-of-its-kind AI/ML Forecast model: This model constantly learns, uses ten million plus gridded forecast data sets that span over four decades to provide long-term predictive power for smarter trades, today and in the future
- Easy-to-use: The intuitive design and user-friendly interface make accessing and interpreting complex weather data a seamless experience, ensuring that users can leverage the full potential of the solution, putting actionable information at their fingertips
"The process of bringing this project to completion has been a humbling experience. It took a substantial amount of brain power to develop and train this model from scratch, in a distributed environment with an enormous amount of data, while providing operational support," said Jonathan Weisbaum, Director of Meteorological Engineering, Pelmorex Corp. "We've got the best engineers and scientists in the world, and it shows in the model's forecasting skill and inference speed."
Pelmorex is the owner and operator of popular weather brands, The Weather Network, MétéoMédia, Eltiempo.es, Clima, Otempo.pt and Weather Source. Pelmorex is committed to expanding into new markets, to reach and serve a global audience with its innovative products and services. The launch of Gaia Energy marks a significant milestone as it solidifies its position as a leader in the AI weather space. With a focus on driving actionable insights, empowering informed decision-making, and delivering tangible value to users, Gaia Energy is poised to make a lasting impact on the multi trillion-dollar global commodity trading industry.
"Our Gaia forecast model is a perfect example of what talented and collaborating teams from meteorology and data science can build together by leveraging new and powerful AI methodologies. While conventional physics based models are impressive with their intricate modeling of atmospheric dynamics, these models also tend to grow forecast error very quickly. What we are seeing with our Gaia DLNWP based model is that this error is more suppressed, leading to more accurate forecasts, " said Mark Gibbas, Managing Director, B2B Enterprise Solutions, Pelmorex Corp. "We believe in using AI for good, and Gaia Energy achieves this by providing the energy trading community with more accurate forecasts that are also available an hour faster than previous generation forecasts."
For more information about Gaia Energy, its transformative capabilities firsthand and the opportunity for a two-week free trial, please visit pelmorex.com/gaia-energy.
About Pelmorex Corp.
Pelmorex Corp., founded in 1989, is an international weather information and data management company. Pelmorex owns and operates the weather brands The Weather Network, MétéoMédia, Eltiempo.es, Clima, Otempo.pt and Weather Source. It also operates Canada's National Alert Aggregation and Dissemination System, part of Alert Ready. Through constant innovation and entrepreneurship, Pelmorex has grown to reach consumers around the globe, has become one of the largest weather information providers and has broken new ground in providing data solutions and insights to businesses. Through harnessing the value of weather, Pelmorex is driven to make the world smarter and safer for consumers and businesses.
To learn more, visit pelmorex.com and follow us on X (platform formerly known as Twitter) and LinkedIn.
SOURCE Pelmorex Corp.
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