SkySpecs Acquires Wind Energy Tech Companies Fincovi and Vertikal AI

SkySpecs Acquires Wind Energy Tech Companies Fincovi and Vertikal AI

Michigan-headquartered wind energy technology company SkySpecs announced today that it has acquired two of Europe’s premier wind energy companies: Fincovi, a leader in financial asset management, and Vertikal AI, a pioneer in predictive maintenance for wind energy. The combined entity brings together world-class data insight and automation to help wind farm owners and operators to optimally invest in, maintain, and manage their assets for sustainable returns.

Serving customers in 26 countries, SkySpecs, Fincovi, and Vertikal AI have offices in Ann Arbor (US), Amsterdam (Netherlands), Dublin (Ireland), Vejle (Denmark), and Hyderabad (India).

Danny Ellis, CEO of SkySpecs, said “Our global customers are facing critical challenges when it comes to budgeting and maximizing the life and returns of their assets as the wind industry matures. We are thrilled to join forces with these two great companies to equip global wind customers with the tools to best utilize capital and keep a pulse on their assets’ health and performance.”

He believes that their vision requires world-class data, predictive insight and automation. Collectively, they aim to help wind farm owners and operators to best invest in, maintain, and manage the world’s top-performing wind assets.

Ray O’Neill, CEO of Fincovi, said that there was an incredible opportunity to integrate operating data with financial data to provide better insight into asset investment.

Fincovi was founded to make renewable energy the best managed and most sustainable real asset class. Their “intelligent middle-office” platform gives CFOs the edge and keeps financial controllers in control of scaling portfolios. Unique cloud based financial workflows, tailored for the industry, automate many of the time consuming jobs and enable advanced reports, so that risk and return can be optimised.

 Allan Larsen, CEO of Vertikal AI, explained that his company uses data analytics and applies AI to optimize the real-time health of wind turbines. He said that joining with SkySpecs would enable the company to deliver its predictive maintenance software to the market – at scale – for the greatest performance impact with wind producers.

Vertikal AI, a Danish startup, started with advanced drivetrain vibration monitoring and quickly moved into the rest of the sensors installed on the turbines. The company’s software platform helps O&M groups optimize operations by detecting faults earlier and more robustly, which reduces expensive component failures and unplanned downtime.

As the wind industry matures, and assets age, there is an urgent need for wind farm owners, operators, and OEMs to seek out data-driven predictive insight and automation to best manage operating expenses, extend asset life and realize optimal total production. This demand is creating an incredible opportunity for the united entity of SkySpecs, Fincovi and Vertikal AI.

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Soumya Duggal

Soumya is a master's degree holder in English, with a passion for writing. It's an interest she has directed towards environmental writing recently, with a special emphasis on the progress being made in renewable energy.