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KAYRROS WINS PRESTIGIOUS NEW EUROPEAN INNOVATION COUNCIL AWARD

Kayrros predictive global energy analysis project recognized for technological innovation

Paris, November 20, 2019 - Kayrros, an advanced data analytics company, was recently awarded a €2.5 million grant by the European Innovation Council (EIC) for its Predictive Analysis on the Worldwide Energy Sector (PAWES) project after successfully completing the work program defined in the June 2018 phase 1 project grant.

The new award is part of a larger €177 million grant given to 96 small and medium-sized companies (SMEs) from 20 countries, with €0.5-2.5 million distributed to the selected companies.

The PAWES project is part of an initiative to expand the capabilities established by Kayrros in monitoring the global energy sector. These include identifying new data sources, increasing R&D activities, and recruiting top talent in data science and associated fields to deliver new products that will strengthen its sector expertise. Kayrros will continue to develop cutting-edge technologies including artificial intelligence, machine learning, and satellite imagery processing for greater transparency and insights on the global energy markets.

Kayrros was selected for its novel and unique approach in combining data analytics and machine learning with expert market knowledge. Kayrros data scientists and energy experts use innovative technologies to retrieve big data from multiple sources before unifying data formats and integrating them into a dedicated IT infrastructure. The data are then processed with proprietary models and machine-learning algorithms to uncover new intelligence on key global energy trends. The speed of work of Kayrros data retrieval, processing, and interpretation delivers information in near-realtime, ahead of publicly available sources.

“Kayrros is very proud to have the support of the European Commission to continue developing its advanced technologies. With the right combination of technological innovation and sector expertise, new, unconventional data are bringing an unprecedented understanding to energy market fundamentals. This is just the beginning,” said Kayrros President Antoine Rostand.

The EIC awards its SME grants to start-up companies with high growth potential or companies with the potential to attain a net worth of over one billion euros. The grants are designed to select, fund, and support start-ups as they grow and mature.

Kayrros is the leading advanced data analytics company that helps global energy market players make better investment decisions. Kayrros experts extract value from the integration of alternative and market data into unique product offerings across the energy chain. With more than 150 employees representing over 15 nationalities working from headquarters in Paris and offices in Houston, London, New York and Singapore, Kayrros delivers actionable information in near real-time using cutting-edge technologies. Kayrros solutions are rapidly scalable and continually expanded to new geographies and new sources of data that help provide greater transparency into energy markets worldwide.

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