Renewcast Secures $2 Million in Funding for Disruptive Renewable Power Forecasting Platform

We are thrilled to announce that Renewcast has successfully raised €2,000,000 to further accelerate our mission of transforming the renewable energy forecasting landscape. As an Italian company with an ambitious international footprint, we harness the power of cutting-edge machine learning technology to deliver unparalleled accuracy in short-term and day-ahead wind power generation forecasting. Our proprietary Software as a Service (SaaS) platform has achieved a remarkable normalized Mean Absolute Error (nMAE) of a maximum of 5%, substantially outperforming the industry average of 12-18% in day-ahead wind power forecasting. This funding will empower us to enhance our platform’s capabilities, innovate our offerings, and expand our reach across global markets. Our commitment to a "premium-price-for-premium-performance" business model positions us to disrupt the traditional forecasting paradigms, allowing us to share both the risks and benefits of our superior forecasting services with our clients. By managing data quality and complexity, we enable our partners to make informed decisions, ultimately optimizing their renewable energy outputs and operational efficiency. As we move forward, we are excited to explore new opportunities for collaboration and growth, further establishing Renewcast as a leader in the renewable power forecasting space. We extend our gratitude to our investors for their overwhelming support and belief in our vision, and we look forward to writing the next chapter of our journey together.