Optimization of Wind Turbine Operation: PNE Invests in AI-based Technology and Acquires Majority Stake in Bitbloom

Cuxhaven, Germany - PNE AG has acquired 51 percent of the shares in Bitbloom Ltd, a UK-based digital company. Bitbloom is a provider of data analytics and monitoring software and services.

After extensive testing and evaluation, PNE says it is convinced it has found the ideal solution for optimizing the technical capacity of its own wind portfolio. The acquisition also enables PNE to offer an expanded range of digital and analytical services to owners and operators of renewable energy assets.

Today's (July 17, 2023) announcement follows an existing business relationship between the two companies. Bitbloom's products have been extensively proven in improving the performance and yield of PNE's own wind portfolio and will support PNE in providing optimal and innovative services, the renewable services company said. PNE plans to introduce services based on Bitbloom software as part of its corporate strategy.

The acquisition will enable Bitbloom to accelerate its product development, with a focus on transparency and interpretability of complex processes in physics and AI-based monitoring of wind turbine operations. PNE intends to offer these solutions to the market and expand its service offering based on the company's Scale Up 2.0 strategy.

Markus Lesser, CEO of PNE AG, is pleased to be able to use the software both for optimizing the performance of the company's own portfolio and, in perspective, for expanding the Services business area: "In Bitbloom, we have found a very dynamic company that complements us perfectly. Together, we will drive PNE forward and also ensure that the overall performance of wind turbines is optimised", said Lesser.

"The technology we are building at Bitbloom is unique for the marketplace and is already used to increase asset value in Europe and beyond. With PNE’s support and network we can accelerate our efforts and extend our reach, and we now have a clear pathway to enable us to realise our ambitions”, added Staffan Lindahl, one of Bitbloom's three founders.

Source: IWR Online, 17 Jul 2023