Among the latest software IBM has acquired to capture data and utilize AI to enhance the performance of renewable assets and help a company reach sustainability goals in the energy sector, is Prescinto.

IBM announced that it has decided to buy Prescinto, a company that’s considered to be the forerunner in its asset performance management (APM) software-as-a-service (SaaS) solution for the renewable energy market. The end goal of this acquisition is for IBM's Maximo Application Suite (MAS) to better serve its ability to advance performance monitoring and management of clean energy infrastructures through the addition of advanced analytics and automation.

Organizations are investing heavily in wind and solar energy sources in the fight against global warming and for energy cost savings. However, the deployment of such technologies, e.g., turbines and solar panels, should be effectively managed. Solutions provided by Prescinto are aimed at such problems, helping to increase the performance of assets and control various external conditions affecting power generation.

The global utilities asset management market is projected to experience a remarkable increase from $4.3 billion in 2022 to $12.4 billion by 2031, which indicates the ever-increasing need for efficient asset management systems. By acquiring Prescinto, IBM acknowledges its position in today’s growing energy and utilities markets which already serve several sectors including water, oil and gas.

IBM MAS has been acknowledged by Verdantix as a market leader in Enterprise Asset Management and Asset Performance Management, making IBM the sole vendor to achieve leadership in both the segments.

IBM's sustainability efforts will be augmented with Prescinto's knowledge based technology that will monitor renewable energy of customers, diagnosis issues and improve operability. Prescinto's solutions will help IBM manage their 16 GW spread across 14 countries, in managing the renewable energy.