Financial Mathematics in the Power Industry
We provide individual solutions from the modeling to the implementation with our research of renewable energies.
E-world energy & water is gathering decision-makers of the European energy industry. The exhibitors present their sustainable technologies and intelligent solutions for the energy future to professional visitors. A high-quality program including the E-world Congress and four open expert forums complement the exhibition. Industry experts discuss challenges and present solutions to current energy issues there. E-world 2019 combines the two key topics Smart City and Climate Solutions – the aim: to encourage sustainable transformation and promote intelligent infrastructures.
Our experts of the departments »System Analysis, Prognosis and Control«, »High Performance Computing« and »Financial Mathematics« present our solutions in the field of energy in Hall 4, Booth 4-611:
Another major topic is predictive maintenance in the energy industry, i.e. optimizing plant efficiency through machine learning.
Ideally, a technical system is considered reliable and economical, if it is repaired promptly and available when required. This is only possible if the company can reliably predict the maintenance requirements of the systems, taking into account the current production plan and past load history, while guaranteeing the availability of the appropriate resources such as specialists, spare parts, logistics, etc.
Reliable prediction of future events is an integral part of any Predictive Maintenance (PM) system. An important key lies in the analysis of patterns in past events. In a joint modeling approach, we model not only the continuously measured sensor data, but also repetitive discrete event data and failure data. We develop machine learning methods to recognize and visualize complex high dimensional patterns as well as the dynamics and trends of production process states. Further-more, we use machine learning algorithms to predict and characterize the condition of technical systems.
In addition, our spin-off Wendeware will be on site with us at our stand. The nucleus and development site of the technological ideas and products around Wendeware is the Green by IT group at the Fraunhofer ITWM. Wendeware AG was founded in March 2019. The founders are, besides Matthias Klein, his colleague Alexander Klauer, Wilhelm Krüger, an experienced entrepreneur with a start-up background, and Jochen Marwede, who has over 30 years of experience in the energy industry.