VERBUND and Google sign memorandum of understanding

“We are proud to have found a partner in Google, one of the world’s most innovative companies. The diverse applications of an innovative energy future put no limits on the imagination,” explains Michael Strugl, Vice Chairman of the Board of VERBUND. “In the digital transformation that the energy industry is going through, what we expect from this partnership is not only an exchange of knowledge and ideas for business models but also a boost in our innovation culture, which we can learn from Google,” says Michael Strugl.

Christine Antlanger-Winter, Country Director of Google Austria adds, “We look forward to entering into a strong partnership with VERBUND, in order to advance innovative topics related to the digital transformation. We are convinced that together with Austria’s largest electricity supplier we can advance their projects in the area of energy thanks to Google Cloud and innovations in the field of Artificial Intelligence (AI). The business and work culture topics that were also agreed will ensure positive developments beyond the confines of the company and the industry.” 

Having defined specific topics, the collaboration will now be deepened and the development and implementation of joint projects advanced. This is happening in the following areas: 

Training and Digital Culture

The digital transformation represents a new paradigm. And this shift is presenting many companies with the challenges of actively shaping this transformation. VERBUND wants to take inspiration from the culture of innovation at Google with the transfer of knowledge and a training programme. 

Boosting the start-up ecosystem

In 2020, VERBUND launched the VERBUND X Accelerator “The Energy & Infrastructure Innovation Platform” to find solutions to topics in the area of energy and infrastructure and to cooperate with start-ups. In 2021, Google is planning to come on board as a partner to leverage joint potentials and to accelerate the implementation of innovations.  

Renewable energy future: 

 With today’s modern technologies, it is already possible to use applications in the energy sector that can raise the efficiency of photovoltaic systems thanks to precise geodata. This helps to increase efficiency and reduce installation times right from the start. The intention is to collaborate on a customer-focused solution in the PV sector, supported by AI and Machine Learning (ML) from Google Cloud solutions.

Advanced analytics: AI for the energy sector

Advanced analytical tools, AI and ML offer tremendous potential for operating plants in the energy industry. Google Cloud and VERBUND will investigate the possible applications in the area of visual plant inspection, data-based predictive maintenance and of forecasting tools in the power trading sector.