- Prescinto employs artificial intelligence to monitor and optimise the performance of clean energy plants.
IBM has acquired Bengaluru-based SaaS solar energy startup Prescinto to enhance its renewable energy initiatives, particularly through its Maximo Application Suite (MAS), which focuses on asset lifecycle management.
Although the financial specifics of the acquisition remain undisclosed, IBM has articulated that this strategic purchase is poised to augment the capabilities of MAS, lending further strength to the company’s position within the rapidly evolving energy and utility domain.
Prescinto, founded in 2016 by Puneet Jaggi, Ramadas Menon, and Sanjay Bhasin, employs artificial intelligence to monitor and optimise the performance of clean energy plants.
Reducing costs
The startup’s innovative technology allows for real-time analysis to identify the underlying causes of underperformance, enabling plants to enhance energy generation by 5 to 7 per cent, consequently reducing operational and maintenance costs.
The alignment with IBM’s focus on implementing advanced technological solutions in the renewable energy sector positions Prescinto as a valuable asset in the tech giant’s portfolio.
IBM’s acquisition comes at a time when the energy and utility sector is undergoing substantial transformation. As outlined in IBM’s recent statement, the integration of Prescinto’s capabilities will not only enhance MAS but will also bolster IBM’s leadership role in renewable energy.
The company’s ongoing efforts to promote artificial intelligence adoption in India further highlight its strategic focus on developing solutions tailored to emerging market needs.
Recent collaborations involving IBM, such as with L&T Semiconductor Technologies for advanced processor design and the Gujarat government for establishing an AI cluster, signify the tech giant’s proactive approach to driving innovation in various technological domains.
Moreover, these initiatives align with national efforts to stimulate economic growth through advancements in semiconductor technology and AI.