IBM has acquired Prescinto, a software-as-a-service (SaaS) supplier for asset performance management (APM) in the renewable energy sector. Prescinto uses AI for advanced automation, analytics, and monitoring to manage clean energy and storage assets, optimizing operations for renewable energy.
The acquisition will equip IBM to assist customers with their sustainability initiatives and net-zero objectives. Users will be able to track and monitor the performance of energy storage, wind, and solar assets in almost real time, pinpoint the underlying reasons for underperformance, and suggest ways to maximize generation.
Citing an example, the company said in a press release, “A solar power plant, for instance, may lose some of its efficiency over time if dirt and debris build-up on its panels. Using visual recognition capabilities, renewable APM software can monitor these assets, spot problems, and trigger steps to get efficiency back to its peak. This would facilitate the necessary cleaning, allow for real-time tracking of panel performance, and enable organizations to react quickly before energy output drops.”
Big Blue also cited Allied Market Research in the release to highlight the significance of the acquisition. It said, “The global utility asset management market is anticipated to increase in value at a compound annual growth rate (CAGR) of 11.3 percent, from $4.3 billion in 2022 to $12.4 billion in 2031.”
Prescinto is a Bengaluru-based APM company, which offers data capture, monitoring, and analysis capabilities to simplify operations and maximize ROI. It uses AI and IoT to optimize performance, extend asset life, and reduce operational downtime. IBM MAS, an integrated ALM solution, uses AI, IoT, and analytics to optimize performance and reduce costs, ranking first in the 2023 ALM market.
