PNE AG invests in AI-supported technology for value increase in operations

 Corporate News

 PNE AG invests in AI-supported technology for value increase in operations

• Experienced Renewables operator invests in leading-edge technology for value add of assets
• PNE further expands the degree of innovation of its service portfolio as a Clean Energy Solutions Provider

Cuxhaven, July 17, 2023 – PNE AG announces the acquisition of 51 percent of the British digital company Bitbloom Ltd After extensive testing and evaluation, PNE is convinced they have selected the optimal solution to strengthen its existing technical capabilities across its portfolio of wind assets. PNE will be able to offer an expanded range of digital and analytical services to owners and operators of renewable energy systems.

Bitbloom is a renowned provider of data analytics and monitoring software and services with a proven track record. Their transparent AI-supported analytics and monitoring products enable optimisation of renewable energy operations. The announcement builds on the existing commercial relationship between the two organisations. The products will support PNE’s ambition to provide optimal and innovative services and have been extensively proven to increase the performance and yield across its own wind portfolio. PNE will introduce services based on Bitbloom software as part of its corporate strategy.

The acquisition will enable Bitbloom to accelerate its product development with an emphasis on improving the yield of wind turbines. The products focus on increasing transparency and interpretability of the complex processes in physics and AI-supported monitoring. This enables further improvements on asset value and more reliable operation for their customers.

PNE and Bitbloom joined forces and signed the agreements in Hamburg. 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, in the future, 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”.

The excitement is echoed by Staffan Lindahl, one of Bitbloom’s three founders: “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 enable us to realise our ambitions”.

PNE AG's acquisition of a stake in the British software service provider Bitbloom Ltd was preceded by several years of business relations: PNE AG is one of Bitbloom's customers, along with other well-known international operators. Since its foundation in 2019, the 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 benefit of increased resources and expertise whilst remaining dynamic and innovative as an autonomous entity providing independent products and services to the market.

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.

Contact:

PNE AG
Alexander Lennemann
Head of Corporate Communications
Tel: +49(0) 47 21 – 7 18 - 453
Fax: +49(0) 47 21 – 7 18 - 373
E-mail: alexander.lennemann@pne-ag.com