Photo - POWER DRONE ltd.
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POWER DRONE ltd.

Data analytics company for automated energy inspections

Bulgaria
Market: Power Engineering, Drones, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 24.06.2020
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Idea

We collect high quality imagery data using drones that we process with our special software applying AI and machine learning algorithms

Current Status

So far we have inspected & analyzed more than 650 km power lines operated by Power Distribution Companies and industrial clients. On top, we have carried out inspections of more than 30 renewable assets (wind turbines+solar parks). Recently we have conducted pilot projects for inspection underground pipelines and railway infrastructure.

Market

Our main clients are the Power Distribution and Transmission companies, as well as Railway infrastructure companies, Renewable assets such as wind and solar parks, Underground district heating pipelines and Gas pipelines.
Our immediate market is Central & Eastern Europe + Turkey; next step of business expansion is Western Europe and Latin America

Problem or Opportunity

The problem that we solve is that the Power Distribution and energy companies have to inspect their assets on a regular basis, but they lose money doing it ineffectively and inefficiently. There are 3 main reasons for that: 1. the usual on-foot inspections are slow and costly; 2. most of the areas are hard to access and assets are not properly inspected; 3. the (manually) collected data is difficult to process and analyze

Solution (product or service)

With our off-the-shelve drones we collect high quality images of the inspected assets that we process with our special software applying AI, image recognition and machine learning algorithms. We detect the technical problems on the assets and help utilities to conduct preventive repairs to avoid emergency situations. Our platform is easily accessed remotely and we integrate seamlessly all deliverables into the GIS of our clients.

Competitors

We are replacing the usual on-foot inspections carried out by the technicians, especially in hard-to-access areas. We are much faster and more effective, detecting up to 5 times more technical problems.
In comparison to our competitors executing aerial inspection we use industrial off-the-shelve drones and collect high quality and detailed images of the inspected assets which is crucial for the quality and reliable data processing and analytics.

Advantages or differentiators

We have developed a special software together with our customers (Power Distribution Companies) which is fully in line with their specific needs and requirements for GIS integration.
The platform can be easily amended with new functionalities and adjusted to the client`s needs and different projects.

Finance

So far we have generated in total 65 000 EUR from executed projects.

Business model

Our business model is quite simple - we charge our customers per inspected kilometre of power lines/assets or per renewable unit

Money will be spent on

Most of the investor money that we are looking for, will be spent for data processing automation, autonomous drone inspections and business development for expanding the geography of the business activities.

Offer for investor

500k EUR

Team or Management

Risks

Utility and energy companies have by default a conservative mindset and it takes more time and efforts to introduce disruptive and innovative projects.

Incubation/Acceleration programs accomplishment

PowerUp! Acceleration program in cooperation with Cleantech Bulgaria

PRIMER Inno Energy Acceleration program in cooperation with Cleantech Bulgaira

Won the competition and other awards

Awarded by the President of Bulgaria as ,,Most innovative startup company in Bulgaria in 2019"

Photos

Photo 1 - Data analytics company for automated energy inspections
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video