Twaice develops industry-independent analytics software that optimizes both the development and operation of lithium-ion batteries and builds trust in the battery value chain. The core technology is based on the so-called digital twin. Sensors are used in the batteries and physical and data-controlled battery models are combined. Twaice is using a hybrid approach that replaces empirical aging models with data-driven models linked to artificial intelligence (AI) at the beginning of the battery life cycle as they run through time. This guarantees greater accuracy as the data base increases with the data collected live-in-field. The design and utilization of the batteries can be improved by the software. This leads directly to an extended battery life and fewer replacements.
The company is banking on a growing battery analytics market, which is projected to grow from 3.3 billion euros in 2019 to more than 46 billion euros.