34 water utilities and hydropower managers worldwide, including Brookfield and ENGIE, rely on HydroForecast to increase revenue, manage climatic risks, and modernize operations
Boston, 25th September 2024 - Upstream Tech, an innovator of scalable climate software solutions, has announced today that its HydroForecast water forecasting product now supports 34 utilities and asset managers to inform over 10 gigawatts (GW) of hydropower operations across the globe. By delivering accurate forecasts of water availability and inflows, HydroForecast enables hydropower producers and operators worldwide to maximize energy production, enhance operational efficiency, and implement responsible water management practices.
Hydropower plays a crucial role in the energy transition, offering reliable and clean electricity generation and storage. However, increasing climatic volatility is exacerbating both the short-term challenge of managing the safety of dams and reservoirs, optimizing hydropower production, planning seasonal supplies and managing extreme weather events.
With recent agreements signed in North America, Upstream Tech now provides its products to over 10GW of hydropower operations worldwide, including countries where hydropower is a significant source of electricity generation such as the US and Canada, New Zealand, Portugal, and Iceland. Organizations actively leveraging HydroForecast include Brookfield, ENGIE and Mercury Power New Zealand.
By leveraging the latest in AI and hydrology, Upstream Tech equips hydropower businesses with the industry’s most accurate water forecast, enabling them to increase revenue via energy marketing optimization, operate safely during extreme weather events, plan water supply at the seasonal scale, and integrate long-term climate change into strategic planning.
“If we’re to successfully mitigate the effects of climate volatility on our natural resources, and by extension our low carbon power generation, we have to keep innovating across our operations,” said Jean Nicolas Lejeune, Managing Director Global Energy Management & Sales, ENGIE Iberia
“By partnering with Upstream Tech, and adopting its HydroForecast product, we’re taking the proactive steps necessary to ensure we can continue to provide clean power to global populations, support the long term financial planning of our businesses and ensure that we protect our power assets, preventing impacts on environment and ecology.
Marshall Moutenot, Chief Executive Officer, Upstream Tech commented:
"The rapid growth in our client portfolio is a very real indication of the role hydropower is playing in our energy transition. There’s more pressure than ever for operators to balance intermittent generation and maintain safe and optimal operations in the face of volatile weather. We are exceedingly proud to supply our clients with the best possible forecasts for their decisions.”
For more information about HydroForecast and its applications, please visit https://www.upstream.tech/hydroforecast.
Upstream Tech will be attending Waterpower Canada, Ottawa, 25th - 27th September.
About Upstream Tech
Upstream Tech provides Software-as-a-Service technology solutions for public and private businesses whose operations are increasingly impacted by climate change.
Upstream Tech’s HydroForecast solution provides hydropower asset owners such as utilities and infrastructure investors with more precise, timely, and reliable water forecasting, using its proprietary AI technology to collectivize global and highly specialist regional weather forecasting data to predict short, medium, and long-term water resources.
Upstream Tech’s Lens solution offers public and private land managers across the public and private sector the ability to efficiently and effectively monitor landscapes using satellite and aerial data. Lens democratizes earth observation data and streamlines monitoring and reporting to drive greater accountability and efficiency gains in achieving ambitious environmental goals.
Upstream Tech is a fully-remote team of engineers, scientists, and environmentalists striving to mitigate climate change.
