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EDP Invests in Presenso for Machine Learning-Based Predictive Maintenance

By Ken Briodagh
March 25, 2019

EDP Ventures, the Venture Capital arm of EDP has decided to invest in Presenso, a provider of Artificial Intelligence driven Predictive Maintenance for industrial assets. EDP a renewable energy company, ranks among Europe's major electricity operators and is one of the largest business groups in Portugal.

This investment supports a strategic partnership between EDP and Presenso, aiming to accelerate Industry 4.0 adoption within the utility sector.

“In the last year Presenso has added leading industrial organizations to its client roster,” said Eitan Vesely, CEO, Presenso. “We are pleased that EDP recognizes the potential of Presenso's approach to Predictive Maintenance based on Automated Machine Learning or AutoML. We look forward to expanding our global presence as more industrial plants start realizing the value of reducing unplanned equipment downtime and increasing production yield rates and revenue.”

“With AutoML, Presenso is able to provide a single solution which is quick to deploy and is applicable to multiple types of machines,” said Deddy Lavid (Ben Lulu), CTO, Presenso.

“The utility sector is changing fast. The development of Digital Technologies such as predictive analytics is accelerating and it's urgent to take advantage of them to change the paradigm of traditional assets maintenance. We are thrilled to be joining Presenso and are looking forward to work with the company and contribute to its development as a front runner in the industrial analytics field,” said Luís Manuel, board member, EDP Ventures.


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Edited by Ken Briodagh
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