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MP: PrecX - Hyperlocal precipitation forecast everywhere in the world on a simple demand?

Alternative title: PrecX - hyperlokal nedbørsmelding for et globalt vannkraftsmarked

Awarded: NOK 0.50 mill.

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Project Period:

2020 - 2020

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The PrecX project will develop a forecast service that provides highly accurate, hyper-local, and on demand precipitation prediction everywhere in the world. PrecX will be a ready-to-go digital solution for hydropower-related companies to easily get a tailor-made precipitation forecast. Hydropower companies are dependent on the accuracy of hyper-local precipitation forecast as this is crucial information used to establish the inflow of water to rivers or reservoirs, consequently establishing the right pricing of produced electricity. The energy market is increasingly digital, and PrecX will be a lower cost solution that provides accurate forecasts based on different data sources. This milestone project will prepare PrecX for full-scale development, and address the R&D challenges of making an operationally viable forecast, as well as investigate the potential business model for PrecX.

Achieved: -Reduce the time required to establish new high-quality precipitation forecasts. - Get a new case study with a new company interested in our solution. - All the results come from concrete case studies with companies interested in our product. - It is possible to provide our forecast in Norway to energy sector companies. - Make our solution match the need of potential client in order to create value.

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