GridBeyond buys Veritone’s energy division

GridBeyond Limited has announced its purchase of Veritone Inc Energy Business, a North American pioneer in artificial intelligence (AI) software and services. The merger brings together both companies in energy forecasts, trading, and optimisation. GridBeyond’s technology platform optimises dispersed assets in real time across several industries and asset kinds. Veritone Energy’s AI-powered software uses artificial intelligence to revolutionise today’s energy ecosystems through proprietary, intelligent, real-time energy forecasting, optimisation, and control.

The combination of the two technologies will enable GridBeyond to provide more functionality to its customers via a new design platform, an extremely accurate forecasting technology led by its data science team, which will enhance and evolve its market-leading product, allowing customers to generate revenues and support them on their journey to net zero.

Veritone Energy personnel will join the company, tripling the size of the team in North America, in keeping with GridBeyond’s key values of client focus, innovation, and teamwork.