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IBM Acquires Prescinto to Enhance Asset Performance Management in Renewable Energy Sector
2024-10-15
IBM has announced its acquisition of Prescinto, a leading provider of asset performance management (APM) software-as-a-service (SaaS) for renewable energy.
This move aims to strengthen IBM's capabilities in managing clean energy and storage assets, leveraging Prescinto's AI-driven monitoring, analytics, and automation tools to streamline renewable energy operations, the company said in a statement.
As organizations shift towards alternative energy sources such as wind, solar, and energy storage to reduce emissions and cut energy costs, managing the performance of renewable energy devices like turbines and solar panels has become increasingly complex. Environmental factors like weather and debris often hinder energy output and system efficiency. This acquisition will help address those challenges, positioning IBM to support organizations in optimizing the performance of renewable energy assets.
Prescinto's capabilities will be integrated into IBM’s Maximo Application Suite (MAS), further enhancing IBM’s leadership in asset lifecycle management across the energy and utility sectors. Already a significant player in managing water, natural gas, oil, nuclear, and renewable energy assets, IBM MAS has been recognized as a leader in both Enterprise Asset Management (EAM) and Asset Performance Management (APM) by independent research firm Verdantix.
By incorporating Prescinto’s advanced APM capabilities, IBM aims to provide clients with tools to meet sustainability and net-zero goals. Users will benefit from real-time monitoring and AI-driven insights, allowing them to optimize the performance of solar, wind, and energy storage systems. For instance, Prescinto’s technology can detect dirt buildup on solar panels, enabling early intervention to maintain optimal efficiency and prevent energy output declines.
Founded in 2016 and based in Bangalore, India, Prescinto manages 16 GigaWatts of renewable energy assets across 14 countries. Its solutions allow for data-driven decision-making, including real-time visualization of assets, AI-powered loss identification, and actionable recommendations for performance improvement.
With this acquisition, IBM continues to expand its renewable energy solutions, offering businesses advanced tools to simplify operations, maximize ROI, and accelerate their sustainability efforts.
As organizations shift towards alternative energy sources such as wind, solar, and energy storage to reduce emissions and cut energy costs, managing the performance of renewable energy devices like turbines and solar panels has become increasingly complex. Environmental factors like weather and debris often hinder energy output and system efficiency. This acquisition will help address those challenges, positioning IBM to support organizations in optimizing the performance of renewable energy assets.
Prescinto's capabilities will be integrated into IBM’s Maximo Application Suite (MAS), further enhancing IBM’s leadership in asset lifecycle management across the energy and utility sectors. Already a significant player in managing water, natural gas, oil, nuclear, and renewable energy assets, IBM MAS has been recognized as a leader in both Enterprise Asset Management (EAM) and Asset Performance Management (APM) by independent research firm Verdantix.
By incorporating Prescinto’s advanced APM capabilities, IBM aims to provide clients with tools to meet sustainability and net-zero goals. Users will benefit from real-time monitoring and AI-driven insights, allowing them to optimize the performance of solar, wind, and energy storage systems. For instance, Prescinto’s technology can detect dirt buildup on solar panels, enabling early intervention to maintain optimal efficiency and prevent energy output declines.
Founded in 2016 and based in Bangalore, India, Prescinto manages 16 GigaWatts of renewable energy assets across 14 countries. Its solutions allow for data-driven decision-making, including real-time visualization of assets, AI-powered loss identification, and actionable recommendations for performance improvement.
With this acquisition, IBM continues to expand its renewable energy solutions, offering businesses advanced tools to simplify operations, maximize ROI, and accelerate their sustainability efforts.
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