AP NEWS
ADVERTISEMENT
Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

SkySpecs acquires two European wind energy technology companies: Fincovi and Vertikal AI

May 17, 2021 GMT
1 of 3
A shift toward smarter asset investment and predictability of O&M needs just got easier with the combined expertise of SkySpecs, Fincovi, and Vertikal AI.
1 of 3
A shift toward smarter asset investment and predictability of O&M needs just got easier with the combined expertise of SkySpecs, Fincovi, and Vertikal AI.

ANN ARBOR, Mich., May 17, 2021 /PRNewswire/ -- SkySpecs, a global leader in wind energy technology, has acquired two of Europe’s premier wind energy companies: Fincovi, a leader in financial asset management, and VertikalAI, 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.

ADVERTISEMENT

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).

“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,” said Danny Ellis, CEO of SkySpecs. “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. Our vision requires world-class data, predictive insight and automation. Collectively, we will help wind farm owners and operators to best invest in, maintain, and manage the world’s top-performing wind assets.”

“There is an incredible opportunity to integrate operating data with financial data to provide better insight into asset investment,” said Ray O’Neill, CEO of Fincovi. “Our team can’t wait to combine our capabilities to help wind farm owners decide how to invest their next dollar.”

“We use data analytics and applied AI to optimize the real-time health of wind turbines,” said Allan Larsen, CEO of Vertikal AI. “Joining with SkySpecs will enable us to deliver our predictive maintenance software to the market - at scale - for the greatest performance impact with wind producers.”

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.

ADVERTISEMENT

SkySpecs’ welcomes inquiries and requests for additional information at: https://skyspecs.com/contact/

ABOUT SKYSPECS

SkySpecs provides world-class data insight and automation to help wind farm owners and operators optimally invest in, maintain, and manage their assets for sustainable returns. We provide end-to-end solutions from robotics and AI-driven predictive analytics for wind blade and drivetrain maintenance, through to financial asset management. SkySpecs’ suite of solutions leads to lower operational costs and higher returns on wind assets, supporting the performance of the top wind producers in the world. SkySpecs operates in 26 countries on 5 continents, serving customers from offices in Ann Arbor (US), Amsterdam (Netherlands), Dublin (Ireland), Vejle (Denmark), and Hyderabad (India). Visit skyspecs.com.

ABOUT FINCOVI

Fincovi is led by Ray O’Neill, John Harney, Damian Malone, and Jayesh Shah. Ray, John, and Damian are industry veterans in the finance and lending side of the renewable energy industry. Jayesh has over 20 years experience developing software startups. 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. Visit fincovi.com.

ABOUT VERTIKAL AI

Vertikal AI is a danish-based startup led by Allan Larsen and Martin Bach-Andersen, two wind industry veterans with more than two decades of combined experience from the world’s largest wind power organizations. Martin, the CTO is a reknowned technology pioneer, known for building industry-leading AI implementations within drivetrain condition monitoring. Vertikal started with advanced drivetrain vibration monitoring and is quickly moved into the rest of the sensors installed on the turbines. Vertikal’s software platform helps O&M groups optimize operations by detecting faults earlier and more robustly, which reduces expensive component failures and unplanned downtime. Visit vertikal-ai.com.

CONTACT: Theresa Trevor, theresa.trevor@skyspecs.com

View original content to download multimedia: http://www.prnewswire.com/news-releases/skyspecs-acquires-two-european-wind-energy-technology-companies-fincovi-and-vertikal-ai-301292068.html

SOURCE SkySpecs