New Firm Helps Processors Cut Energy Costs

A start-up company promises to help manufacturers—including plastics processors—better navigate the volatile energy market and significantly slash their bills. This firm, Imperium (thisisimperium.com), does this by utilizing a platform that relies on analytics and artificial intelligence to help clients determine the best time to buy energy.

“Our mission is to create radical transparency and simplicity in commercial energy purchasing while helping U.S. businesses save up to 30% in energy costs annually,” states Arthur Kaplan, a founding partner and Imperium’s chief sales officer.

“For most industrial firms, energy is one of the largest operating expenses,” Kaplan adds. “Today, most commercial and industrial companies purchase their energy from ‘Wolf of Wall Street’- style brokers who will do and say anything to make the sale. The lack of a transparent marketplace creates a procurement process ripe for taking advantage of buyers, along with a buyer experience full of friction.”

About three years ago, Imperium began creating algorithms that Kaplan says lead to a “client-facing platform that empowers businesses to easily buy energy at the best price and time with confidence.” Kaplan says Imperium is able to effectively reduce risk of price volatility by using proprietary AI to predict U.S. energy prices with up to 95% accuracy. The started selling the service to clients early this year.

“To strengthen the platform, our team and technology also researches and advises on regulations and legislation that could affect your energy price,” he adds. “The current Infrastructure Bill and future legislation could have a large impact on the energy industry, and we can help guide clients through the changes and how it will affect their bottom line.”