Vilnius-based Inion Software Revolutionizes Renewable Energy Sector with 300% Sales Increase in Q3
„Inion Software“ team: Mindaugas Lubys, Dr. Šarūnas Stanaitis and Dr. Robertas Janickas
The Vilnius-based start-up Inion Software has managed to increase its sales by almost 300% in the third quarter of this year. Over the first nine months of this year, this company’s sales amounted to 635,000 EUR, compared to 217,000 EUR over the same period last year. Overall, the company’s sales are expected to exceed 900,000 EUR in 2023.
Considering that the equipment for renewable energy producers that this company produces is famous both in Lithuania and abroad, such a rapid growth really should not come as that much of a surprise.
With solar power plants rapidly gaining popularity worldwide, Inion Software is now offering the control tools they need; and the demand for the same is growing in line with the need for power plants. The company’s control systems allow for the monitoring and analysis of a PV solar plant.
“The software developed by our team stands out in the market for its flexibility – it allows customers to find the necessary information all in one place, and in all its accuracy and functionality; this coupled with the fact that we use artificial intelligence to predict how a particular solar power plant will work a few days down the line, and how much of the electricity generated will be used. We also guarantee security by storing data on European and US servers. We realise that such solutions are essential for energy production and storage, and the continued interest shown by our customers only confirms that we are on the right track,” said Šarūnas Stanaitis, the CEO of Inion Software.
This start-up’s solutions are currently being employed in the largest solar parks in Lithuania and Latvia and also in an 18 MW solar park in Sweden. Inion Software has partnered with Abora Solar, one of the world’s most successful hybrid solar companies, and Volter, one of Romania’s most advanced solar power plant builders.
In addition to tools for monitoring and analysing solar power plants, Inion Software also develops intelligent battery management systems that use artificial intelligence algorithms to predict and select the most efficient scenario for charging the battery and selling electricity to customers.
The company received recognition in the local community
Inion has been nominated in the Vilnius TechFusion Startup Awards, in the category Tech for Good. The awards are organized by the Vilnius City Tourism and Business Development Agency Go Vilnius, the Lithuanian Startups Association Unicorns Lithuania and Sunrise Tech Park. The fifth Vilnius TechFusion Startup Awards will take place on 11 January 2024.
The main aspect of the nomination is to encourage society and give it the opportunity to contribute to the creation of a more sustainable environment. Inion Software’s work with solar power plants did not go unnoticed and was highly rated by the panel members.
Inion Software develops monitoring and analysis tools for use in solar power plants, where demand is growing in line with the need for solar power plants. The company has also brought into the market a number of smart battery management systems that use artificial intelligence algorithms to predict and select the most efficient scenario for charging and selling electricity to customers. The success of the company and the relevance of its products are reflected in the figures – Inion Software saw an increase in its sales of 300% in the first half of this year alone.
