SkySpecs, a global leader in wind energy technology, has acquired two of Europe’s premier wind energy companies including Roscommon based Fincovi which is supported by the Western Investment Fund.
Fincovi is a leader in financial asset management, and Vertikal AI, the other company acquired are 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), 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.”
Commenting on the acquisition, Gillian Buckley Investment Manager with the WDC stated;
As a seed investor in Fincovi, the WDC Investment Fund was critical in the company's early development phase. The acquisition by Skyspecs brings huge global reach for this Roscommon based start-ups and demonstrates that high calibre technology start-ups can be based in regional locations.
“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.
