The Lithuanian start-up Inion Software has managed to increase its sales by almost 300% in the third quarter of this year. Over the first nine months of this year, this company’s sales amounted to 635,000 EUR, compared to 217,000 EUR over the same period last year. Overall, the company’s sales are expected to exceed 900,000 EUR in 2023.
Considering that the equipment for renewable energy producers that this company produces is famous both in Lithuania and abroad, such a rapid growth really should not come as that much of a surprise.
With solar power plants rapidly gaining popularity worldwide, Inion Software is now offering the control tools they need; and the demand for the same is growing in line with the need for power plants. The company’s control systems allow for the monitoring and analysis of a PV solar plant.
“The software developed by our team stands out in the market for its flexibility – it allows customers to find the necessary information all in one place, and in all its accuracy and functionality; this coupled with the fact that we use artificial intelligence to predict how a particular solar power plant will work a few days down the line, and how much of the electricity generated will be used. We also guarantee security by storing data on European and US servers. We realise that such solutions are essential for energy production and storage, and the continued interest shown by our customers only confirms that we are on the right track,” said Šarūnas Stanaitis, CEO.
This start-up’s solutions are currently being employed in the largest solar parks in Lithuania and Latvia and also in an 18 MW solar park in Sweden. Inion Software has partnered with Abora Solar, one of the world’s most successful hybrid solar companies, and Volter, one of Romania’s most advanced solar power plant builders.
In addition to tools for monitoring and analysing solar power plants, Inion Software also develops intelligent battery management systems that use artificial intelligence algorithms to predict and select the most efficient scenario for charging the battery and selling electricity to customers.