How to increase the profitability of wind turbines using data? For Algorithm Energy, it's about giving power companies something that has been missing until now: concrete insights and recommendations - instead of just information.
Their Software as a Service (SaaS) solution is aimed at wind turbine owners who want to get more out of their investment. Instead of just showing statistics, they analyze data down to the component level - pinpointing exactly where losses are occurring and why.
- "We don't just retrieve data, we create value," says Nils Nyström, CEO of Algorithm Energy. "Our customers get to know how much they're losing, why it's happening and what they can do about it.
Algorithm Energy's solution also makes it possible to go back in time and analyze historical data. This allows you to not only detect problems, but also understand long-term patterns - and create the conditions for more preventive work.
A stepping stone into the Swedish energy industry
But Algorithm Energy's journey began far from the forests of Västernorrland - in Pakistan. There, founder Saquib Syed worked closely with wind farm owners and saw how much untapped potential there was in the data that wind turbines generate. Instead of just collecting numbers, he wanted to develop a tool that shows the causes of losses - and suggests solutions.
When he came into contact with Nils Nyström, the opportunity to bring the technology to Sweden - a market where both renewable energy and innovation have strong footholds - opened up. In 2022, the company was registered in Sweden, and together they began to build on the technology. It was a journey that both challenged and developed the team's strengths.
- "We are a small team with backgrounds from different parts of the world," says Nils Nyström. "We look at problems from different perspectives - and that's often where the really good ideas are born.
Based in Härnösand and focusing on expansion in Europe, the team started looking for opportunities to build the Swedish company. They found it at home in Västernorrland, through the Forest Business Accelerator. The accelerator, which is a collaboration between BizMaker, SCA, IBM and RISE, was the starting point for a new phase in the company's development.
- "The accelerator opened doors that would otherwise have been difficult to access," says Nils Nyström. "Not only did we get valuable contacts, but also concrete support on how to build a Swedish company - from IP rights to contracts and preparing for investors.
Expanding in Europe - with Sweden as a platform
The next step? To establish itself in Germany and the rest of Europe - with Sweden as a base. Algorithm Energy sees Central Europe as a key market, where the need for efficient and profitable energy solutions is only growing.
- We see that we have something that can make a real difference in the European energy transition. But to get there, we need both capital and the right people around us - investors, board members, advisors. There is so much expertise in Sweden and Västernorrland that we are happy to have tapped into. Now we are ready to take the next step," says Nils Nyström.
