E.ON is working with Microsoft to develop future innovations geared towards a successful energy transition.
The two companies are expanding their existing cooperation with innovation collaboration for advancing digitalization and developing new sustainability solutions for the future. The goal is clear: both partners will develop projects in close cooperation and build on each other's expertise to bring solutions to the next level of maturity more quickly.
Faster learning curve
Following joint digitalization projects in areas such as Future Energy Home, cloud, and security solutions, the extended collaboration is now being extended to include the innovation area.
Microsoft and E.ON will now jointly identify new projects and develop solutions using technologies such as artificial intelligence and data analytics, among others. The innovation collaboration will provide both partners with a faster learning curve in terms of developing more products and services for their customers, as well as more effective processes in their organizations.
The innovation collaboration will provide both partners with a faster learning curve
Sebastian Weber, Chief Technology Officer at E.ON, says: "The digitalization of the energy industry is an important prerequisite for decarbonizing the European energy landscape. The expansion of the cooperation between Microsoft and E.ON in the area of innovation is another step on the way to the energy transition. Together we will develop innovative solutions to further optimize critical processes and thus deliver added value to our customers."
Volatile market developments
Maria Gomez, Director of Retail, Travel, Energy at Microsoft, says: "We share the same understanding with E. ON regarding value and sustainability strategies. In our future labs, we are working on applications for artificial intelligence, data analytics and cloud computing, with which we are driving the digitalization of the energy industry and from which many customers can benefit in the future."
A first project of the innovation collaboration deals with so-called process of ‘algorithmic hedging’. The gained insights will support E.ON in making improved buying and selling decisions for electricity and gas even against volatile market developments.
Together, the two companies are working on the development of algorithms that analyze the current market situation on the basis of machine learning and implement hedging decisions automatically.
