Companies join weather forecasting for trader clients
MDA EarthSat Weather and EarthRisk Technologies, a pioneer in the research, analysis and visualization of extreme temperature and weather pattern risks, announced a strategic partnership. Under the partnership, MDA EarthSat Weather will distribute EarthRisk's cutting-edge weather risk platform to help traders in natural gas, power, and agriculture sectors project extreme weather patterns up to 40 days in advance.
Powering the alliance is EarthRisk's newly developed TempRisk 4.0 software platform. TempRisk views the atmosphere at both high and low altitudes around the globe for variables ranging from pressure patterns and jet stream position to air temperature and thunderstorm activity, the companies explained.
“Analysis of these variables against historical weather records dating back more than 60 years results in improved risk assessment for either extreme cold or heat for regions of interest. TempRisk 4.0 has incorporated a new comprehensive empirical forecast model that intelligently combines the most important signals for a specific region and forecast window, significantly improving accuracy over analog methods alone,” is the claim to what the new offering provides.
"There is no other solution out there like EarthRisk's that can instantly show detailed risk to temperature in a given region around the world six weeks in advance," said Larry Heitkemper, vice president of Weather Services with MDA. "Our customers rely on long-range weather forecasts to determine the greatest risks and rewards. This partnership promises the most technologically advanced insight for helping make those critical decisions."
Bringing the two companies together will provide new weather information of many types for energy trading and agricultural market clients.
EarthRisk Technologies is a San Diego-based software company founded in 2010. The company's product suite, TempRisk, is a web-based platform that crunches more than 60 years of weather data to formulate the odds of cold snaps and heat waves 40 days in advance. Trading groups, power producers, agriculture and energy traders contract for TempRisk.
EarthSat Weather is a consulting group for weather risk and commodity weather support. EarthSat Weather has a full short, medium, and long range forecast service and provides special reports on key market-moving concerns. This company also deals with clients involved in weather risk, energy and agricultural markets. The weather business area within MDA Information Systems LLC is a provider of geospatial data and analysis.