Kayrros Wins Prestigious European Innovation Council Award

Posted by Kayrros


Kayrros predictive global energy analysis project recognized for technological innovation
Paris, June 18, 2018 - Kayrros, an advanced data analytics company, was recently awarded a grant from the European Innovation Council (EIC) for its Predictive Analysis on the Worldwide Energy Sector (PAWES) project. The award is part of a larger grant given to 257 small and medium-sized companies (SMEs) from 31 countries. Though the PAWES project, Kayrros will deploy its cutting-edge technologies, including artificial intelligence and processing of satellite imagery, to provide predictive analysis and insights on the global energy market.

Kayrros was selected in part for its novel approach to delivering energy market insights, which combines data analytics, machine learning, and expert knowledge. Kayrros data scientists and energy experts use innovative technologies to retrieve big data from multiple sources before unifying the data formats and combining them into a dedicated IT infrastructure. They then process the data are processed with specific models and machine-learning algorithms to provide market forecasts and frequent updates on key global energy trends. The speed at which this is done enables Kayrros to deliver information in near real time and with less delay than existing publicly available sources.

“We're honored to receive this EIC grant in recognition of our hard work and effort,” said Antoine Rostand, Kayrros president. “We will continue to build and maintain an innovative range of insightful products that bring greater transparency to the energy markets worldwide.”

The EIC awards its SME grant to start-up companies with high growth potential or companies with the potential to attain a net worth of over one billion euros. The EIC SME grant is designed to select, fund, and support start-ups as they grow and mature. Looking ahead, Kayrros is entering the second round of EIC applications, which could provide an award between 1.5 and 2.5 million euros.

europeEuropean UnioninnovationWinKayrrosPAWESproject

More items from kayrros

Iraq Set to Boost Oil Output after Bai Hassan Restart

Kayrros satellite surveillance shows that production has fully resumed at the Bai Hassan field in Iraq. The field is part of a complex of oilfields in Northern Iraq that were shut down mid-October 2017 after the Kurdistan Regional Government (KRG) unilaterally voted for independence from Baghda ...


Posted 3 days agoOpinion > OilOil and GasCrude oil +6

EIA has Reported a Large Draw of Distillate Fuel Oil Demand Over the Last Two Weeks

The EIA reported a draw in distillate fuel oil demand for the second week in a row. While distillate fuel oil demand can be very volatile, the cumulative effect of the last two weeks brings it outside of its usual deviation range.   Finished motor gasoline demand is back within normal range thi ...


Posted 18 days agoOpinion > EIAOilOil and Gas +1

Clean Fuel Policy in India Raises Demand for LPG

After India announced its new clean fuel policy, the demand for kerosene dropped while the demand for Liquefied petroleum gas (LPG) increased The demand for kerosene in India has remained stable since it dropped two years ago after the announcement of a new government p ...


Posted 19 days agoOpinion > Petroleum Productsclean fuelOil India +3

Libyan Crude Oil Supply Disrupted After Port Attacks

Fighting at Libyan Ports damage storage facilities, halting exports and production from major fields in the Sirte Basin. Escalating conflicts since June 14  have forced NOC to declare force majeure at Ras Lanuf and Es Sider late last week. Damage to tanks 2 and 12 a ...


Posted 27 days agoPress

Kayrros Extends Presence to London, Continues Initial Expansion of Office Network

Kayrros increases its global reach with a new presence in London and Dubai, coupled with offices in Paris, Houston, New York and Singapore PARIS,  9 June 2018 —Kayrros announced the opening of its London office this week, with the appointment of Christer Odegaard as ...


Posted 1 month agoPress > LondonOilSingapore +5
All posts from kayrros