Latest news with #Aerones
Yahoo
3 days ago
- Business
- Yahoo
Aerones secures $62m to advance robotic wind turbine maintenance
Latvia-based Aerones has raised $62m to support the global expansion of its robotic and AI-enabled technologies for wind turbine maintenance, as reported by Reuters. Aerones' robotics technology can service wind turbine blades in half the time required for manual maintenance. The funding aims to enhance the upkeep of wind turbines across more than 30 countries. The equity investment round was led by US investors Activate Capital and S2G Investments. Aerones has received a €4m ($4.5m) grant from the EU Innovation Fund and secured a further €30m in funding in 2023. Wind power, now contributing 10% to global energy production, is on an upward trajectory. However, the maintenance of wind turbines is predominantly manual, leading to extensive blackout periods and significant financial losses for energy firms and turbine operators. Kruze emphasised the efficiency, safety and cost-effectiveness of their solutions, stating: "The industry is scaling really fast and maintenance is tough. The wind turbine downtime costs more than the labour itself and that bottleneck is driving up the cost of renewable energy." Kruze further explained the proactive approach of Aerones."We don't wait until the blade is already on the ground, but work out how to prevent that blade from falling to the ground." With a growing presence in the US, Aerones has recently established an office in Dallas, Texas. The company is committed to local recruitment and training. Aerones is also preparing for a venture debt round in the second half of 2025, aiming to raise between $15m and $20m. Since 2020, Aerones' technology has facilitated the generation of 400,000 megawatt hours of additional clean electricity and contributed to the avoidance of 165,000 tonnes (t) of carbon emissions. "Aerones secures $62m to advance robotic wind turbine maintenance" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Robotics firm raises $60 million to scale up wind turbine repairs
By Virginia Furness LONDON (Reuters) -Latvian tech company Aerones, which counts GE and Enel among its customers, has raised $62 million to fund a global roll out of robots and other AI-enabled solutions to protect and maintain thousands of wind turbines in over 30 countries, its CEO told Reuters. Wind power accounts for almost 10% of the world's energy generation and is growing rapidly but the majority of turbines are still maintained by hand, causing days-long blackout periods which cost energy companies and turbine operators huge sums. Aerones' robots can maintain and service vast wind-turbine blades in a minimum of half the time it takes for humans to do so, providing an efficient, safe and cost-effective solution for growth, its co-founder and CEO Dainis Kruze said. "The industry is scaling really fast and maintenance is tough," he said. "The wind turbine downtime costs more than the labour itself and that bottleneck is driving up the cost of renewable energy." "We don't wait until the blade is already on the ground but work out how to prevent that blade from falling to the ground," he said. The equity funding round was led by U.S. investors Activate Capital and S2G Investments. Aerones is also backed by a 4 million euro grant from the EU Innovation Fund and an additional 30 million euro funding round in 2023. Aerones is scaling rapidly in United States so it was important to bring on U.S. partners this time, Kruze said. The firm last year opened an office in Dallas, Texas and is hiring and training local people. The company plans to return to the market to raise around $15 million to $20 million of venture debt later this year, Kruze said. Since 2020, Aerones has enabled nearly 400,000 MWh of additional clean electricity and helped avoid 165,000 tonnes of carbon emissions, the company said in a statement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Robotics firm raises $60 million to scale up wind turbine repairs
LONDON, June 3 (Reuters) - Latvian tech company Aerones, which counts GE and Enel among its customers, has raised $62 million to fund a global roll out of robots and other AI-enabled solutions to protect and maintain thousands of wind turbines in over 30 countries, its CEO told Reuters. Wind power accounts for almost 10% of the world's energy generation and is growing rapidly but the majority of turbines are still maintained by hand, causing days-long blackout periods which cost energy companies and turbine operators huge sums. Aerones' robots can maintain and service vast wind-turbine blades in a minimum of half the time it takes for humans to do so, providing an efficient, safe and cost-effective solution for growth, its co-founder and CEO Dainis Kruze said. "The industry is scaling really fast and maintenance is tough," he said. "The wind turbine downtime costs more than the labour itself and that bottleneck is driving up the cost of renewable energy." "We don't wait until the blade is already on the ground but work out how to prevent that blade from falling to the ground," he said. The equity funding round was led by U.S. investors Activate Capital and S2G Investments. Aerones is also backed by a 4 million euro grant from the EU Innovation Fund and an additional 30 million euro funding round in 2023. Aerones is scaling rapidly in United States so it was important to bring on U.S. partners this time, Kruze said. The firm last year opened an office in Dallas, Texas and is hiring and training local people. The company plans to return to the market to raise around $15 million to $20 million of venture debt later this year, Kruze said. Since 2020, Aerones has enabled nearly 400,000 MWh of additional clean electricity and helped avoid 165,000 tonnes of carbon emissions, the company said in a statement.
Yahoo
3 days ago
- Business
- Yahoo
Robotics firm raises $60 million to scale up wind turbine repairs
By Virginia Furness LONDON (Reuters) -Latvian tech company Aerones, which counts GE and Enel among its customers, has raised $62 million to fund a global roll out of robots and other AI-enabled solutions to protect and maintain thousands of wind turbines in over 30 countries, its CEO told Reuters. Wind power accounts for almost 10% of the world's energy generation and is growing rapidly but the majority of turbines are still maintained by hand, causing days-long blackout periods which cost energy companies and turbine operators huge sums. Aerones' robots can maintain and service vast wind-turbine blades in a minimum of half the time it takes for humans to do so, providing an efficient, safe and cost-effective solution for growth, its co-founder and CEO Dainis Kruze said. "The industry is scaling really fast and maintenance is tough," he said. "The wind turbine downtime costs more than the labour itself and that bottleneck is driving up the cost of renewable energy." "We don't wait until the blade is already on the ground but work out how to prevent that blade from falling to the ground," he said. The equity funding round was led by U.S. investors Activate Capital and S2G Investments. Aerones is also backed by a 4 million euro grant from the EU Innovation Fund and an additional 30 million euro funding round in 2023. Aerones is scaling rapidly in United States so it was important to bring on U.S. partners this time, Kruze said. The firm last year opened an office in Dallas, Texas and is hiring and training local people. The company plans to return to the market to raise around $15 million to $20 million of venture debt later this year, Kruze said. Since 2020, Aerones has enabled nearly 400,000 MWh of additional clean electricity and helped avoid 165,000 tonnes of carbon emissions, the company said in a statement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
