Based at Science and Technology Park Poland-East in Suwałki, Prognosis has developed state-of-the-art software able to accurately forecast electricity consumption and costs and select the most favourable tariffs for public institutions and private companies of all sizes. EU funding supported its creation and helped Prognosis implement a business model to commercialise the product and related services on domestic and international markets.
- 29 January 2020
The device is fitted onto the electricity meter. Data from the meter are read by an optical probe and sent to our device. Using a GSM modem, the device sends the data to our cloud sever. Then the data is presented in the application to which the customer has access (…) By carrying out the project within the operational programme for the development of Eastern Poland, we received almost PLN 1 million in funding, which enabled us to build the product from scratch.
Prognosis’s remote energy meter reading system uses wireless technology to provide customers with up-to-date, exhaustive data from their meters in the form of easy-to-read charts and reports. They can view these reports and monitor their energy consumption 24 hours a day via an online application accessible from any web browser and portable devices.
The system sends customers immediate e-mail or SMS alerts regarding optimal tariffs and enables them to adjust their contracted electricity capacity to avoid fines for exceeding it.
Developing an idea
Company founder Joanna Konopko came up with the idea for the system during her doctoral studies at Warsaw University of Technology. The forecasting method she developed was awarded first place in the 2015 Anita Borg Memorial Scholarship for Europe, the Middle East and Africa. Organised and funded by Google, the initiative supports women studying computer science.
Prognosis was established in 2016 within Science and Technology Park Poland-East’s ‘Hub of Talents’ platform, which is addressed to young entrepreneurs with innovative ideas. During a 10-month incubation period, the company prepared the first version of the software. Its effectiveness was confirmed through two pilot projects: one at the Science and Technology Park; the other at Suwałki’s Ludwik Rydygier regional hospital.
Joanna and her husband, with whom she set up the firm, took part in training courses to enhance their business management skills. By the end of the programme, Prognosis was equipped with a professional business model and this, combined with its innovative product, enabled the company to obtain funding to help get the system ready for market.
Lower energy costs
Once the Prognosis meter reading system is installed, data are sent to the company’s cloud server, where they are analysed automatically. On the basis of this analysis, information and recommendations are sent to the client, putting them in control of their energy expenditure. All reports are editable and saved to a database so that users can view historical and projected data in one place.
Outlay on energy is one of the main expenses incurred by businesses and giving them the right information on how to manage their electricity supply can generate big savings. Due to its adaptability, which enables it to meet the specific needs of each user, the Prognosis software allows enterprises to save 30 % on electricity distribution and consumption charges.
Prognosis offers comprehensive energy management diagnostics and audits and can quickly pinpoint the most energy-intensive aspects of an organisation’s activity. This can support customers in making upgrades to their electricity infrastructure, leading to further savings of up to 15 %.
Finally, as well as benefiting customers, the technology has allowed Prognosis to achieve sales revenues of over approximately EUR 330 000 (PLN 1.4 million) and create seven full-time equivalent jobs.
Total investment and EU funding
Total investment for the project “Implementation of a Prognosis business model and innovative system on the domestic and foreign markets” is EUR 217 000, with the EU’s European Regional Development Fund contributing EUR 184 000 through the “Development of Eastern Poland” Operational Programme for the 2014-2020 programming period. The investment falls under the priority “Research and innovation”.