Veritone, Inc. announced its intelligent distributed energy resource management solution (iDERMS) has been selected by Marubeni Corporation to provide price, demand and generation forecasts at their pilot project in the California Independent System Operator (CAISO) SP-15 region. In addition to day-ahead and real-time generation, demand, and price forecasts for a node in CAISO SP-15 region, Veritone will provide demand and generation forecasts for the overall CAISO system. Having highly accurate forecasts will allow Marubeni to confidently create and maintain a competitive position in the wholesale electricity market, to maximize the flexibility and reliability of assets to best support the development of a resilient power grid.

This investment will provide Marubeni with additional capabilities to continue to improve management of its power assets.