BayWa r.e. expands its digital asset operations expertise
With the deal, Kaiserwetter’s ARISTOTELES and IRIS software platforms, as well as the entirety of Kaiserwetter’s software development and data science teams based in Hamburg, Germany, join BayWa r.e.’s Services business unit.
ARISTOTELES is a cloud-based Internet of Things (IoT) and artificial intelligence (AI) platform designed to maximize the performance of renewable energy investment portfolios. IRIS is a smart data analytics machine delivering detailed insights and reports for due diligence, asset performance and upside potential identification.
The acquisition underlines BayWa r.e.’s commitment to its digital roadmap and to continue to push the envelope of asset intelligence for the renewable energy industry.
“This acquisition is another important milestone on the digital transformation of renewable energy operations,” commented Tobias Bittkau, BayWa r.e. Global Director of Services. “Combining ARISTOTELES and IRIS with BayWa r.e.’s resources, our existing expertise and solutions into one seamless platform will enable efficiency, transparency and value for asset owners and managers globally.”
Kaiserwetter Energy Asset Management GmbH has been a pioneer in the development of advanced cloud-based asset management software for the renewables sector, which are a perfect fit with BayWa r.e.’s digital strategy and complementary to its 2019 acquisition of Canadian software house PowerHub Inc.