The $6 billion battle over the future of weather forecasting:
, then most add their own data sources, collected using cheap sensors deployed on everything from seafaring drones to, in Xcel’s case, its wind turbines. That data is then fed into custom algorithms and weather models, often underpinned by rapid advances in AI and machine-learning.
Before he studied engineering at Imperial College London, he spent a year on the open water, including a stint as a crew member on a yacht owned by the Italian tycoon Gianni Agnelli. Two years into his degree, Jenkins started building a contraption called a land yacht, with a tubular carbon-fiber cockpit and three race-car wheels, topped with a 40-foot sail. In March 2009, he zipped across a dry lake in the Mojave Desert, hitting 126.2 mph and setting a world record for wind-powered speed.
More than a half dozen investors, including the foundation run by former Google CEO Eric Schmidt, are backing the company with $90 million in venture capital. Pitchbook pegs its value at $260 million. Employee head count is at 100 and growing. In January, the company launched a free weather app and plans to charge for a premium version starting June 25. Cheap computing power allows Saildrone to quickly test powerful weather models.
“IBM and AccuWeather predict the weather,” says Jupiter founder and CEO Rich Sorkin, 57. “We predict the impact of that weather.” Jupiter charges $200,000 to $500,000 to run a pilot for new clients. Yearly subscriptions cost $1 million and up. Revenue to date is in the single-digit millions he says, but he projects ten times that for 2019.
Jupiter looks more promising. The 50-person team includes talent from the federal government’s National Center for Atmospheric Research and NOAA. Like Zeus, Jupiter uses government-issued weather data, but Sorkin says artificial intelligence and detailed terrain-based information are producing risk projections that customers are willing to pay for. Without cloud computing, he says, Jupiter wouldn’t exist.
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