About our Company
The Team behind BitWatt Systems
BitWatt Systems develops cloud-based software that enables the owners of large energy assets (e.g. power plants, refineries, customer portfolios) to visualize their total market risk and create a globally optimal hedging strategy. From our own experience and our market interviews we have seen a gap in most energy companies’ IT landscape. They don’t have the user-friendly tools needed to coordinate market activity across large and diverse portfolios, to simplify the modelling of flexibility, or to allow top managers to lead the strategy discussions. Portfolio visualization (and comprehension) is just as important to users as numerical reliability.
Behind the user-interface, we seek to push the technological envelope by employing stochastic optimization routines where the problems are tractable and AI hedge advisers for problems less easily formulated. With our system, companies can better meet their specific top-line financial targets with a globally coherent market strategy.
The Team
CHAD HLADIK
CEO
traded energy futures and optimized utility-scale asset portfolios for 10 years at a US hedge fund and European utilities. By monetizing the flexibility of assets, he created significant value for his companies’ shareholders. Chad holds Masters degrees in both Chemistry and Computational Finance from the Georgia Institute of Technology, where he modeled particle diffusion, price diffusion, stochastic processes, credit risk, and the payouts of real options.
DOUG TAYLOR
CTO
brings 25+ years of Software Engineering experience -- the last 10 years focused in the Power and Renewable Energy Industry. Previously Doug was Vice President Industry Solutions for Europe at AutoGrid and the Head of Process IT at E.ON Connecting Energies. While at E.ON he was responsible for the design and implementation of the E.ON Virtual Power Plant System, the Energy Efficiency Platform, and the connected ICT of their distributed on-site generation fleet.
CAROLINE GRITTE
Finance & Controlling
worked for several years in accounting, risk management, and back office for UBS wealth management and E.ON. She has a Masters degree in economics from Université catholique de Louvain and a professional certification in finance.
Advisors
MANAS DEB
is the VP of cloud computing solutions at Cap Gemini. Prior to working for many years in the software industry and for his own startups, Manas earned a PhD in computer science from Univerity of Texas as well as an MBA.
TIM ESCHERT
is a Mechanical Engineer by training and works as the Sales Engineer at Fero Labs. Since 2017, he is Fero Labs’ “foot on the ground” in Germany. Tim’s previous work includes providing consulting services to companies on the implications and implementations of Industry 4.0, Smart Services, Artificial Intelligence, and Internet of Things. As a researcher at Columbia University’s Department of Computer Science (New York) and Rio de Janeiro University’s robotics lab, he co-authored several high-ranked papers.