EarthRisk Technologies is redesigning the link between weather and business decision-making. The technology company is developing software that accesses a wide range of publicly and commercially available weather and climate data to empower customers to tailor dynamic, customized risk assessments for their individual needs. The company’s initial focus leverages a unique approach of applying precursor weather information as a basis for predicting extreme temperature events at lead-times of up to forty days. The software solution is designed for intuitive application by analysts who connect weather to business decisions such as energy resource planning and commodity investments. EarthRisk links cutting-edge atmospheric research to real-world applications through intuitive analytic interfaces.
In 2010, EarthRisk Technologies licensed a patent-pending process originated at Scripps Institution of Oceanography, UC San Diego. Drs. Gershunov and Guirguis developed the research and EarthRisk has leveraged the technology to design software that assesses the risk of extreme weather events. Its customers consist of energy companies and financial firms who actively manage energy resources and financial futures. The company anticipates expanding to serve the agriculture, transportation, and risk management industries.
EarthRisks’s current platform, called TempRisk, analyzes the risk for extreme winter-time cold and extreme summer-time heat up to forty-days before it occurs. TempRisk is designed to provide the energy and utility sectors with advanced warning of major heat waves and cold snaps that impact energy markets. Through improved understanding of global weather extremes, TempRisk users can be better prepared to make financial decisions and manage their energy resources.
The solution is available to energy traders, energy analysts, utilities, and others with a vested interest in how weather impacts commodity markets and resource planning. TempRisk is offered through an exclusive strategic partnership between EarthRisk and Earth Networks. Earth Networks operates the largest weather observation and lightning networks in the world and is establishing a global environmental data network on an unprecedented scale. Earth Networks owns and operates the WeatherBug brand which precisely monitors, organizes, and distributes global weather information. The WeatherBug consumer brand reaches millions as a trusted source for live, local weather information, while the WeatherBug professional brand serves a variety of markets that include federal, state and local governments, education, agriculture, energy and utilities, sports and recreation, media and transportation. Earth Networks is based in Germantown, Maryland.
In the fall of 2010, energy and utility analysts used EarthRisk to receive advanced warning 15 to 20 days prior to the season’s most severe cold outbreaks. A TempRisk analysis pinpointed–approximately 20 days prior to its arrival–the record cold air mass that affected more than 80 million Americans in mid-December. At the same time, across the Atlantic, TempRisk also identified an elevated risk for prolonged severe cold in Europe. In 2011, the United Kingdom experienced its coldest December in 100 years, during which time natural gas demand spiked to record levels and prices hit a two-year high.
TempRisk makes extreme weather data useful on a daily basis for high-value business decisions. EarthRisk’s customers extend their lead-time predicting extreme cold snaps and heat waves, enabling them to be better positioned with greater confidence. EarthRisk’s vision is to conquer “big data” in a way never before institutionalized in the weather community. The company is driven to extend its knowledge of extreme temperature events to analyze hurricane genesis and movement, drought and precipitation, wind and other important areas.
Stephen Bennett, Founder and Chief Science Officer
2970 5th Avenue • Suite 320, San Diego, CA 92103
Tel: (858) 413-RISK
John R. Plavan, Jr. – CEO
Stephen Bennett – Chief Science Officer
Kristen Guirguis, PhD
Scripps Institution of Oceanography