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Benefits

Benefits of cloud-native solution

Hytrade’s Cloud-native SaaS solutions offer a number of benefits for optimization, making them an increasingly fitting choice for green hydrogen businesses of all sizes. Here are some of the key advantages of using cloud-native SaaS solutions for optimization:

  1. Scalability: Cloud-native SaaS solutions are highly scalable, meaning they can easily accommodate changes in demand or user traffic without requiring significant upgrades to hardware or software. This makes them ideal for businesses looking to grow quickly or accommodate fluctuating demand.
  2. Flexibility: Cloud-native SaaS solutions are highly flexible, allowing businesses to quickly adapt to changing market conditions or user needs. This can be especially valuable in industries where innovation and agility are key to success.
  3. Cost Savings: By leveraging cloud-based infrastructure and services, cloud-native SaaS solutions can often offer significant cost savings over traditional on-premise solutions. This can be especially valuable for smaller businesses or those with limited IT budgets.
  4. Reliability: Cloud-native SaaS solutions are designed to be highly reliable, with built-in redundancies and failover mechanisms to ensure maximum uptime and minimize downtime. This can be especially important for businesses with mission-critical applications or services.
  5. Security: Cloud-native SaaS solutions typically come with built-in security features and protocols, helping to protect against data breaches and other security threats. This can be especially important for businesses dealing with sensitive data or regulatory compliance requirements.

Overall, cloud-native SaaS solutions offer a range of benefits for optimization, making them an attractive option for businesses of all sizes looking to improve efficiency, reduce costs, and stay competitive in a rapidly evolving marketplace.

Benefits of intraday trading

Hytrade has long experience in the electricity market and trading flexibility. Our solution is especially designed for continuous intraday trading. This differs from the day ahead trading and ancillary services where the price discovery is based on daily auctions and requires optimization only twice a day; before bidding gate closure based on price forecast and after the auction results have been published to the market participants. Focusing on intraday market has three major benefits for green hydrogen production:

  1. Price discovery: Trading flexibility in intraday markets allows market participants to adjust their supply and demand based on real-time market conditions and latest information on energy system and their own consumption and storage situation, which leads to more accurate pricing of available flexibility.
  2. Risk management and profit optimization: Trading at a continuous intraday market also allows participants to adjust their positions throughout the day and therefore enables better risk management and profit optimization.
  3. Reduced imbalance costs: Third benefit of intraday trading is reduced imbalance cost via real time position adjustment to match the actual demand.

Realizing the benefits of intraday trading and flexibility requires decision support based on real time. This is what Hytrade’s solution is designed to offer. All parts of the solution from forecasting to market access enable the green hydrogen producer to get the maximum benefit out of the unique role that green hydrogen is bringing into the electricity system.

Benefits of probabilistic forecasting

Hytrade is utilizing a method called probabilistic forecasting. Probabilistic forecasting refers to the use of statistical techniques to predict the likelihood of future electricity demand or supply levels and the associated market prices. It involves updating probabilities based on new data as it becomes available. This is useful in situations where there is a high degree of uncertainty, as it allows traders to continually refine their forecasts based on the latest information. The aim of probabilistic forecasting is to provide traders with a more accurate understanding of the likely range of outcomes for electricity prices and demand, as well as the probability of those outcomes occurring. This helps traders to better manage their risk exposure and make more informed trading decisions.

Benefits of software product made specifically for green hydrogen and P2X

This is not a one-size-fits-all product: Our solution has been created with thorough energy sector and industrial energy consumption knowledge and a tight focus. Deep energy and process industry knowledge have been used to design best functionality for the customer. We want to help the customer to maximise their euros and offer a software product that makes it easy and efficient to navigate within the complex power markets – the solution is designed “From traders to traders”. Focused scope is key to agile and efficient development and thus the best results.

This is a continuously developing product: We offer a continuously developing software product, not a one-off project where customer has final responsibility to define the functionality and design to be used in the evolving circumstances. Product development is guaranteed by Hytrade domain experts and collective learning, experience and expectations driven by client base.

Professional software development with modern technology provides also support, SLA’s, and cybersecurity on a high level. Our software works on top of all automation systems. It is built with the newest technology, and customers do not need to suffer from the vendor’s legacy. Our solution is designed to be combined with other green hydrogen ecosystem partners.