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Power Factors acquires Greenbyte to create energy software company with global reach

Image: Getty.

Image: Getty.

Renewable energy operations and asset performance management software company Power Factors has acquired renewable management platform Greenbyte AB.

Together they will support more than 75GW of wind, solar and energy storage assets around the world, bringing together California-based Power Factors' and European Greenbyte’s portfolios.

Power Factors’ CEO Gary Meyers said the company was “thrilled” to join Greenbyte, adding “the energy market is undergoing a transformational shift to renewables and the industry is demanding a company with the scale, geographic reach and product vision to support that transition".

Over time, the two platforms are expected to converge to create a single unified toolset for renewable energy management, allowing operation of large fleets of assets.

Combining the two companies gives “unparalleled scale and breadth of service in global renewable software” said Jonas Corné, Greenbyte’s CEO, adding that “joining forces allows us to better adapt to the changing needs of our customers”.

“Data is helping to transform the energy industry, from automated workflows to the mission-critical insights needed to drive positive outcomes in the fight against climate change. Consolidation has been anticipated in the sector for some time and in Power Factors, we have found a partner that complements our market presence and our mindset.”

Corné recently wrote a blog for Current±’s sister site Solar Power Portal about managing energy loss through software in the solar sector.

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