Energy storage provider Fluence is acquiring artificial intelligence and machine learning company Nispera to help grow Fluence’s digital management systems.
Nispera is based in Zurich, Switzerland, and its platforms target the renewable energy sector. Its performance management platform currently manages 8 gigawatts of assets across 450 wind and solar projects worldwide.
Fluence says the deal will increase its digital portfolio to 15 gigawatts of energy contracted or under management and will accelerate development and implementation of new digital applications. The company also says the acquisition will help the company enhance its Fluence IQ digital application.
The Nispera software analyzes data from wind, solar and hydro operations and monitors actual and expected energy production to increase efficiencies of operations. Nispera has a suite of five applications including its software-as-a-service platform and a power generation forecasting service that is geared toward energy traders, grid operators and financial institutions, Fluence says. The other products are predictive maintenance, operations and portfolio apps.
Artificial intelligence used in conjunction with renewable energy could save investors $1.3 trillion in energy transitions over the next 30 years, according to a report from U+. Last year Accenture acquired Zestgroup in another energy related deal focusing on improving data operations.
The deal is expected to close during Fluence’s fiscal third quarter and is subject to customary closing conditions. The acquisition includes an all-cash buyout of nearly $30 million for existing private investors for Nispera and Fluence will also issue restricted stock to Nispera’s management team that vests more than three years for retention purposes, Fluence says.
Nispera will maintain its leadership team and will operate under the Fluence brand from its Zurich headquarters. Nispera’s platforms collect and analyze data from renewable energy sources in more than 25 countries.
“As we build a comprehensive digital product suite for customers to better understand, control, dispatch, optimize, and maintain their renewable energy and storage assets, Nispera’s use of machine learning and AI will be highly complementary to the advanced applications already being developed at Fluence,” says Fluence Chief Digital Officer Seyed Madaeni.