SkySpecs acquires wind energy companies in Europe
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SkySpecs acquires wind energy companies in Europe

17 May 2021 (Last Updated May 17th, 2021 12:28)

SkySpecs has acquired two European wind energy technology companies, Fincovi and Vertikal AI.

US-based data insight and automation provider SkySpecs has acquired two European wind energy technology companies, Fincovi and Vertikal AI, for an undisclosed sum.

Fincovi provides financial asset management services, while Vertikal AI offers predictive maintenance for wind energy.

The combined business entity will offer data insights and automation to help wind farm owners and operators in maintaining their assets with optimum investment.

As the industry matures and as assets age, wind farm owners, operators and original equipment manufacturers (OEMs) need to seek out data-driven predictive insight and automation to manage operating expenses properly and extend asset life.

This demand is hoped to create opportunities for the three companies’ combined business entity.

SkySpecs CEO Danny Ellis said: “Our global customers are facing critical challenges when it comes to budgeting and maximising 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 utilise capital and keep a pulse on their assets’ health and performance. Our vision requires world-class data, predictive insight and automation.

“We will collectively help wind farm owners and operators to best invest in, maintain and manage the world’s top-performing wind assets.”

Fincovi CEO Ray O’Neill said: “There is an incredible opportunity to integrate operating data with financial data to provide better insight into asset investment.

“Our team can’t wait to combine our capabilities to help wind farm owners decide how to invest their next dollar.”

Vertikal AI CEO Allan Larsen said: “We use data analytics and applied AI to optimise the real-time health of wind turbines.

“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.”

SkySpecs currently has offices in the US, Netherlands, Ireland, Denmark and India, serving customers in 26 countries.

In 2018, the company partnered with Danish power company Ørsted to inspect offshore wind turbine blades at the Burbo Bank Extension offshore wind farm, located in the Irish Sea.