IBM Acquires Bangalore-Based Prescinto For Renewable Energy Asset Performance Management

IBM has acquired Bangalore-based Prescinto, a provider of asset performance management software-as-a-service for renewables. Prescinto's capabilities leverage AI to enable advanced monitoring, analytics, and automation to streamline renewable energy operations and manage clean energy and storage assets. Founded in 2016, Prescinto works with and services global customers across 14 countries with 16 Gigawatts under management.

According to IBM, while organisations are increasingly turning to alternative energy sources to help reduce emissions and lower energy costs, it can be daunting to effectively manage and maximise the performance of high-tech devices like turbines, solar panels and inverters, which generate power from renewable energy assets. In addition, environmental factors like weather and debris can contribute to reducing energy output, system effectiveness, and system uptime. This is where Prescinto's solutions can help.

For example, a solar power plant can become less efficient over time due to accumulated dirt and debris on its panels. Renewable APM software can use visual recognition capabilities to help monitor these assets, identify issues before they become critical, and prompt the necessary actions to restore optimal efficiency. This would allow for real-time tracking of panel performance, streamline required cleaning, and enable organisations' prompt response before energy output decreases.

The acquisition of Prescinto will enhance the capabilities of IBM Maximo Application Suite, IBM's solution for asset lifecycle management. Moreover, it will boost IBM's position in the energy and utility space, an industry undergoing significant transformation and seeking solutions to manage and optimise wind, solar, and other renewable energy storage assets.

The acquisition will further enable IBM to support clients' sustainability initiatives and net-zero goals, allowing users to track and monitor the performance of solar, wind and energy storage assets in near real-time; identify root causes for underperformance; and recommend actions to optimise generation.

According to Allied Market Research, the value of the global utilities asset management market is expected to grow from $4.3 billion in 2022 to $12.4 billion in 2031, with a CAGR of 11.3%.

Prescinto's tools offer capabilities including:

• Data capture: employing open-source protocols and a data governance layer monitoring features—for centralised visualisation of assets with high-definition maps, real-time monitoring, and custom alerts.

• Analysis: using AI to identify losses, visualise data trends, and offer actionable recommendations to increase performance action prompts—facilitating efficient management and deployment of site teams to repair and maintain assets.