AUSTIN, Texas, Dec. 20, 2017 /PRNewswire/ -- SparkCognition was selected by the Department of Energy's (DOE) Office of Fossil Energy (FE) to receive an award with a total value of $706,738 to improve the efficiency and reliability of coal fired power plants by deploying its state-of-the-art artificial intelligence (AI) solutions.
Recognized as a 2017 Red Herring Top 100 Global awardee and recently named the Fastest Growing Company in Central Texas by the Austin Business Journal, SparkCognition has established itself as an AI leader by offering business-critical solutions for a variety of industries.
"SparkCognition's rapid growth is allowing the company to explore new areas of business where our AI-focused solutions can be implemented," said Stuart Gillen, Senior Director of Business Development for Customer Success & Partnerships at SparkCognition. "We are proud to receive DOE funding to work on enhancing our nation's existing power generation infrastructure, and improve how coal-fired power plants operate."
Through the selection made from DOE Funding Opportunity Announcement DE-FOA-0001686, Innovative Technology Development to Enable and Enhance Highly Efficient Power Systems, SparkCognition seeks to significantly enhance productivity of coal-fired electric generating units and other industrial plants that utilize fossil fuels. SparkCognition's funding falls under the FE's Area of Interest 1: ImPOWER- Improvement to Coal Combustion Power Plants. The company will apply AI technologies to enhance the efficiency, availability, and reliability of coal-fired power plants.
SparkCognition's FE-funded project will join the DOE's Crosscutting Technology Research Program, a research & development program that serves as a connecting point between early-stage concepts and real-world applications, and will be managed by the FE"s National Energy Technology Laboratory (NETL).
The company's AI technology will predict asset failure of critical industrial infrastructure using its AI algorithms as well as real-time sensor and operational data. Its cognitive analytics platform will also provide the DOE with insight on fault detections and further optimize their power plant operations.
A highly-awarded company recognized for cutting-edge artificial intelligence technology, SparkCognition offers business-critical solutions for enterprise customers in energy, oil and gas, manufacturing, finance, aerospace, telecommunications, defense, and security. For more information on the company, its technology and team, please visit http://www.sparkcognition.com.
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