PNE takes control of renewables monitoring expert Bitbloom

German renewables developer PNE AG (ETR:PNE3) said on Monday it has acquired a 51% stake in Bitbloom Ltd, a British digital company offering a renewable energy monitoring platform that can optimise the performance and improve the yield of wind turbines.

The acquisition, whose financial details were not disclosed, follows several years of collaboration. PNE has already used Bitbloom's software to raise the performance and yield across its own wind portfolio. The German company now plans to introduce services based on the British firm's AI-supported platform. The deal will, therefore, expand PNE's service products segment in the future.

At the same time, the investment will allow Bitbloom to speed up the development of its platform. The company will gain the benefits of having increased resources while remaining an independent entity.

"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,” PNE CEO Markus Lesser commented.

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