Facing volatile energy markets, Nissha partnered with Faktion to deploy an AI-powered forecasting tool, enabling precise energy predictions, optimised contract decisions, and enhanced sustainability performance.
Nissha Metallizing Solutions is a global leader in coating and metallising processes, which involves energy-intensive manufacturing processes. To align with its sustainability goals and cost optimisation strategies, Nissha has integrated renewable energy sources like wind and solar power into its energy mix.
Given the unpredictable energy prices in the spot market and potential prices increases, Nissha aims to predict accurately its energy needs and negotiate energy contracts upfront with a predetermined price.
To achieve this, Nissha needed a unified energy system that:
Hence, this system can accurately predict Nissha's energy needs in the future.
Navigating energy contract negotiations has been incredibly challenging due to the volatility of energy prices and the fragmented nature of our data sources.
Faktion partnered with Nissha to design a robust tool that consolidates energy data, forecasts production and consumption, and simulates future scenarios for contract optimisation.
Consolidates manufacturing schedules, historical energy consumption, renewable energy production, and spot energy prices. The tool also tracks trends in energy demand, production, and prices to support data-driven decision-making.
Tracks trends in energy demand, production, and prices to support data-driven decision-making.
Enables users to simulate alternative futures, such as high or low renewable production or unfavourable energy prices. Outputs include: Predicted total energy demand and grid consumption, renewable energy production, and spot price trends.
Evaluates energy contracts based on pledges and pricing, compare scenario-based cost estimates while incorporating fixed renewable energy costs for realistic calculations.
Consolidates manufacturing schedules, historical energy consumption, renewable energy production, and spot energy prices. The tool also tracks trends in energy demand, production, and prices to support data-driven decision-making.
Tracks trends in energy demand, production, and prices to support data-driven decision-making.
Enables users to simulate alternative futures, such as high or low renewable production or unfavourable energy prices. Outputs include: Predicted total energy demand and grid consumption, renewable energy production, and spot price trends.
Evaluates energy contracts based on pledges and pricing, compare scenario-based cost estimates while incorporating fixed renewable energy costs for realistic calculations.
Faktion’s approach focused on iterative development and close collaboration with Nissha to deliver a tailored solution:
The AI-powered energy forecasting & optimisation tool transformed how Nissha manages energy procurement, pricing, and consumption.
By adopting this innovative solution, Nissha now has the tools to navigate energy market volatility, maximise renewable energy utilisation, and achieve cost-effective, sustainable operations.
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