Swiss technology giant ABB has entered into a strategic partnership with Pratexo, a pioneering edge-to-cloud acceleration platform company. The collaboration aims to co-develop cutting-edge edge computing solutions tailored for decentralized electrical networks.
Investment Details: ABB’s venture capital unit, ABB Technology Ventures (ATV), has made a minority investment in Pratexo to fuel this strategic alliance. While the financial specifics of the investment remain undisclosed, this partnership marks ABB’s commitment to fostering innovation at the intersection of edge computing, IoT, and AI technologies.
Empowering Edge Computing: Pratexo’s technology platform is designed to facilitate IoT and AI initiatives that demand substantial compute power at the edge. The platform enables rapid setup of systems capable of processing vast volumes of data generated by IoT sensors. This real-time data processing occurs in proximity to the device itself, avoiding the need to transmit data to the cloud for analysis.
Transformation in Electrification: ABB’s Electrification Service will leverage Pratexo’s no-code development platform, Pratexo Studio, to redefine the design of edge-to-cloud digital solutions for customers. This collaboration promises to deliver enhanced decision-making capabilities for future operations.
Real-time Insights: The collaboration’s focus is on deploying edge-based networks and solution architectures that provide real-time insights. This approach brings benefits such as reduced cloud data transfer volumes, enhanced data privacy and security, and the capacity to operate even without an internet connection.
Applications in Decentralized Networks: The partnership’s potential applications include customised, decentralized software solutions for distribution grid operators. These solutions enable real-time management, monitoring, and assessment of electrical systems. The software can identify potential causes of machine faults and optimize operations at a local level, swiftly responding to changes in power availability and consumption.
Stuart Thompson’s View: Stuart Thompson, President of ABB’s Electrification Service Division, expressed excitement about their ability to support customers in their digital transformation journeys. He noted, “Investing in and partnering with innovative startups like Pratexo advances our technological services capabilities to provide enhanced Industry 4.0 business outcomes to our customers.”
Blaine Mathieu’s Statement: Blaine Mathieu, CEO of Pratexo, emphasized the evolving landscape of computing. He noted that while the past two decades focused on centralizing computing in the cloud, the next era will see a balanced hybrid edge-to-cloud approach. He believes that the collaboration with ABB will expedite this transition.
Strategic Expansion: This partnership is ABB’s sixth venture capital investment of 2023 and aligns with the company’s broader portfolio of solutions dedicated to supporting decarbonization efforts.
The strategic collaboration between ABB and Pratexo promises to reshape the realm of edge computing and digital solutions for decentralized electrical networks, ushering in enhanced efficiency, insights, and transformative capabilities.