Lithuanian startup Inion Software has increased its sales by 300% in the first half of this year. In the first six months of 2023, the company’s sales reached €405,000, compared to €135,000 in the same period last year.
As solar power plants are rapidly gaining popularity worldwide, Inion Software has developed the monitoring ar remote control tools needed to control them, and the demand for these tools is growing in tandem with the demand for solar power plants. The company has also introduced smart battery management systems that use artificial intelligence algorithms to predict and select the most efficient charging scenario for customers.
Standout products
According to Šarūnas Stanaitis, CEO of Inion Software, the products developed by the company help customers to deal more efficiently with the issues of green electricity generation and storage. For example, the company provides the plant manager with a broad view of the plant’s production and can accurately predict ahead how much electricity will be generated and the reasons why the solar plant might not be operating at full capacity.
The smart battery management system developed by Inion Software extends the capabilities of the battery: the battery can not only store electricity but also buy it from the shared grid or sell it. Paradoxically, green energy is good for the economy but disastrous for the grid. The importance of the battery will therefore become even more important in the future as many countries move from a centralised to a decentralised electricity grid. Inion Software’s smart battery management system makes a significant contribution to making electricity consumption more flexible.
A rapidly growing market
According to a report by Solar Power Europe, solar power generation in Europe will continue to grow rapidly. Total capacity will reach 327.6 GW by 2025 and 672 GW by 2030.
The global smart battery market also shows significant growth. It is calculated that the size of this market reached USD 33.31 billion in 2022 and is projected to reach around USD 94.93 billion by 2032