IBM has announced the acquisition of Prescinto, an Indian company specialising in asset performance management (APM) software-as-a-service (SaaS) for the renewable energy sector.
This move aims to bolster IBM’s capabilities in managing and optimising renewable energy assets, such as wind and solar power systems.
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Financial terms of the transaction were not disclosed.
Founded in 2016 and based in Bangalore, India, Prescinto serves an international clientele across 14 countries, managing 16GW of energy assets.
Prescinto’s technology utilises artificial intelligence (AI) to facilitate monitoring, analytics, and automation, which are essential for streamlining operations in the renewable energy industry.
Its offerings include data capture using open-source protocols, monitoring with high-definition maps and custom alerts, AI-driven analysis for performance enhancement, and action prompts for effective asset maintenance.
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By GlobalDataAs organisations increasingly adopt alternative energy sources to reduce emissions and lower costs, managing the performance of complex devices like turbines and solar panels becomes critical.
The integration of Prescinto’s APM solutions will enhance IBM Maximo Application Suite (MAS), which is IBM’s asset lifecycle management offering.
IBM MAS is already in use by enterprises in the water, natural gas, oil, nuclear, and other energy sectors globally.
With the addition of Prescinto’s capabilities, IBM expects to be better equipped to assist clients in achieving their sustainability and net-zero objectives.
Users will be able to monitor the performance of their renewable assets in near real-time, pinpoint causes of underperformance, and implement recommendations to enhance energy generation.
For instance, solar power plants can lose efficiency due to the accumulation of dirt on panels.
Renewable APM software, with its visual recognition features, can monitor these assets, detect issues early, and initiate corrective measures to maintain efficiency.
This results in real-time performance tracking, optimised cleaning schedules, and prompt responses to prevent reductions in energy output.
This acquisition follows IBM’s recent agreement to acquire Accelalpha, a provider of Oracle services.
