Energy, Agriculture, and Financial Traders to Benefit from Long-Range Forecasts
GAITHERSBURG, MD-(October 9, 2012) MDA EarthSat Weather and EarthRisk Technologies, a pioneer in the research, analysis and visualization of extreme temperature and weather pattern risks, today 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. 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.
"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," stated 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."
John Plavan, CEO of EarthRisk, commented on the alliance, "Bringing our two companies together will help shape the flow of quality weather information of all types into the traded energy and agricultural markets. This strategic partnership allows our team to stay focused on the research and development necessary to create new solutions to big problems, knowing that the MDA team can bring these products to market in a way that compliments their existing product line and provides a comprehensive solution for their installed client base."
About EarthRisk Technologies:
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 over 60 years of weather data to formulate the odds of cold snaps and heat waves 40 days in advance, a lead-time that is twice as long as any in the industry. Trading groups, power producers, agriculture and energy traders around the globe use TempRisk for a climatological edge in their investments.
For more information, visit http://www.earthrisktech.com
About MDA EarthSat Weather:
EarthSat Weather is the leading consulting group for weather risk and commodity weather support in the world. EarthSat Weather maintains a full short, medium, and long range forecast service, provides special reports on key market-moving concerns, and maintains high levels of communication and 24/7/365 consultation with its worldwide client base. EarthSat Weather products support client decision making processes throughout the majority of the weather risk, energy and agricultural markets. MDA EarthSat Weather is a business area within MDA Information Systems LLC, a provider of essential geospatial data and analysis for decision making. For more information, visit http://www.mdaus.com or email metops@mdaus.com.
For more information, please contact:
Chris Hyde
MDA EarthSat Weather
Director, Weather Marketing
MDA Information Systems LLC
240.833.8322
christopher.hyde@mdaus.com
Miles Starr
EarthRisk Technologies, Inc.
858.413.RISK (7475)
miles.starr@earthrisktech.com
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