Bitbloom Secures Investment to Accelerate Development of Intelligent Renewable Energy Monitoring Platform

Monday 17th July 2023

Bristol, UK

UK-based software as a service provider Bitbloom Ltd today announces the sale of a 51% stake in its business to PNE AG, securing significant investment that will enable Bitbloom to accelerate the development of its renewable energy monitoring platform, with an emphasis on improving the yield of wind turbines. Bitbloom's unique products focus on increasing transparency and interpretability of the complex processes in physics and AI-supported monitoring. This approach drives significant improvements of asset value and more reliable operation for their customers.

PNE AG's acquisition of a stake in Bitbloom was preceded by several years of successful collaboration between the two organisations. Since its foundation in 2019, the Bitbloom team has been supporting wind farm operators in optimising the performance of their turbines and in increasing their yields with innovative software and expert support. As part of the PNE group, Bitbloom will gain the benefits of increased resources and broader expertise whilst remaining dynamic and innovative as an autonomous entity providing independent products and services to the market.

Bitbloom’s co-founder Staffan Lindahl is excited by the opportunities the partnership will bring: “The energy transition and the consequent scaling of renewable power operations brings its own set of challenges, some of which are solved with digital systems. The technology we are building at Bitbloom is unique for the marketplace and is already used to increase asset value in Europe and beyond. With PNE’s support and network we can accelerate our efforts and extend our reach, and we now have a clear pathway to realise our ambitions”.

Markus Lesser, CEO of PNE AG, is pleased to be able to use the software both to optimise the performance of the company's own generation portfolio and to expand and further digitalise the service products segment in the future: "In Bitbloom, we have found a very dynamic company that complements us perfectly. Together, we will drive PNE forward and also ensure that the overall performance of wind turbines is optimised."

Left to Right: Carsten Buehrer, Head of Technology, PNEAG; Staffan Lindahl, Head of Products, Bitbloom Ltd; Michael Tinning, Head of Technology, Bitbloom Ltd; Markus Lesser, CEO, PNE AG; Philip Bradstock, Head of Analytics, Bitbloom Ltd; Jörg Schröder, Head of M&A, PNE AG

About Bitbloom Ltd

Bitbloom Ltd empowers wind farm owners and operators to maximise the value of their data. Through its range of proprietary software and services for data analytics, scientific computing and application development, the company aims to unleash innovation in the wind sector and help people and projects in the sector realise their potential. Bitbloom's smart, cost-effective tools and services enable deep data analysis – without one-size-fits-all analytics and black-box solutions.

About the PNE Group

The internationally operating PNE Group is listed on the SDAX and, with its brands PNE and WKN, is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed into a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the company's services encompass all phases of project development and operation. In addition to project development, the generation of electricity with the Company's own wind farms is becoming increasingly important. Furthermore, the range of offers includes photovoltaics, electricity storage and services. PNE is also involved in the development of power-to-X solutions.