ABB – ABB completes second investment in edge-to-cloud solution provider Pratexo

November 21, 2024
ABB

  • ABB further expands its existing relationship with Pratexo, a US-based edge-to-cloud software solution provider
  • ABB and Pratexo co-developing digital solutions for next generation analytics to enable deeper understanding of complex power systems for maximum resilience and reliability
  • Utilizes advanced analytics on real-time data from electrical infrastructure to enhance reliability, security and cost-effectiveness in industrial operations

 

ABB has completed a second strategic investment in US-based technology company Pratexo, an edge-to-cloud software solution provider. The deepening collaboration between both organizations comes as companies continue to shift from centralized cloud to edge computing and hybrid edge-to-cloud solutions for better operational technology management. Financial details of the investment were not disclosed.

“This further investment in Pratexo is about creating greater customer value through digital technology that delivers powerful data and insights for improved operational efficiency and sustainability,” said Stuart Thompson, President of ABB’s Electrification Service Division. “Our ongoing partnership with Pratexo is bringing advanced electrical asset management to customers, enabling real-time data processing and faster decision-making at the data source.”

 

ABB’s second investment in Pratexo will see the co-creation of innovative digital solutions that enable the early detection of potential issues, preventing unexpected failures, reducing downtime and extending the lifespan of critical assets. Through this, customers across utilities, industry and infrastructure sectors will be able to better balance energy supply and demand for efficient energy distribution in real-time. This not only enhances the reliability of their energy supply but also contributes to a more sustainable and efficient energy system.

“Since their initial investment, Pratexo has continued to deepen its relationship with ABB,” said Blaine Mathieu, CEO of Pratexo. “We have now gone beyond technology exploration and knowledge transfer, directly into a process of co-creating digital solutions that ABB will be bringing to the market in 2025 and beyond.”

As part of the investment, ABB will now take a full board seat at Pratexo to be held by Eric Deschenes, Head of Global Marketing & Sales for ABB Electrification Service.

Pratexo, a member of the ABB SynerLeap innovation growth hub, was one of three winners of ABB Electrification’s 2022 Startup Challenge, a global competition for innovators to develop pioneering concepts that support the world’s safe, smart and sustainable shift towards electrification.

The partnership is ABB’s seventh follow-on venture capital investment of 2024 in addition to six new deals and helps expand the company’s ecosystem of innovation partners developing solutions that support productivity, efficiency and sustainability. Since its formation in 2009, ABB’s venture capital unit, ABB Ventures, has invested around $450 million into startups that are aligned with its electrification, robotics, automation and motion portfolio. 
 

 

SourceABB

EMR Analysis

More information on ABB: See full profile on EMR Executive Services

More information on Morten Wierod (Chief Executive Officer and Member of the Group Executive Committee, ABB Ltd): See full profile on EMR Executive Services 

More information on Timo Ihamuotila (Chief Financial Officer and Member of the Executive Committee, ABB): See full profile on EMR Executive Services

More information on Electrification Business Area by ABB: See the full profile on EMR Executive Services

More information on Giampiero Frisio (President, Electrification Business Area and Member of the Executive Committee, ABB): See full profile on EMR Executive Services

More information on Stuart Thompson (President, Electrification Service, Electrification Business Area, ABB): See full profile on EMR Executive Services

More information on Eric Deschenes (Head of Global Marketing & Sales, ABB Electrification Service, Electrification Business Area, ABB + Member of the Board, Pratexo (Strategic Investment by ABB)): See full profile on EMR Executive Services

More information on ABB SynerLeap: https://synerleap.com/ + Connecting the top industrial startups with the best of ABB

Take the leap with ABB and access the R&D and business resources of a Global Fortune 500 company. SynerLeap is an innovation growth hub with the aim to create an ecosystem for collaboration and help startups to win customers, scale and grow.

SynerLeap offers mentorship, investments, and a unique access to ABB’s networks, clients and technology.

By bringing startups and ABB together through our innovation growth hub SynerLeap, we strive to ignite innovation transfer across industries, ranging from industrial automation, robotics to grid technologies, smart cities, buildings and transportation technologies.

Our aim is to help startups accelerate and expand on a global market together with ABB. We help startups take the big leap.

SynerLeap offers mentorship, investments, and a unique access to ABB’s networks, clients and technology.

SynerLeap started with a focus on Sweden, expanded to the Nordics and is now also open to companies from around the world. Its main office is located at the ABB Head Office in Västerås Sweden.

More information on Peter Löfgren (Managing Director, ABB SynerLeap + SVP Global Startup Collaborations, ABB SynerLeap, ABB): See full profile on EMR Executive Services

More information on ABB Technology Ventures (ATV) by ABB: https://global.abb/group/en/technology/ventures + Strategic venture capital for breakthrough industrial technology startups

The ABB Group through its business-led venture capital investment framework, ABB Ventures, looks for breakthrough technology companies aligned with ABB’s goal to write the future of industrial electrification and automation. Since its formation in 2009, ABB Ventures has deployed around $400 million into startups spanning a range of sectors including robotics, industrial IoT, AI/machine learning, energy transition, cybersecurity, sustainability, electric mobility, smart buildings, and distributed energy. 

More information on Dr. Kurt Kaltenegger (Group Vice President, Head of ABB Technology Ventures, ABB): See full profile on EMR Executive Services

More information on Mads Moeller (Head of ABB Technology Ventures for Electrification, ABB): See full profile on EMR Executive Services

 

More information on Pratexo (Strategic Investment by ABB): https://pratexo.com/ + Pratexo (pra TEX o – derived from a Latin verb for edge-related activity) was founded in 2019, based on two decades of experience helping to build some of the most scalable and performant computing systems in the world for organizations including PayPal and NASA.

Pratexo’s technology platform supports industrial IoT-related initiatives which demand compute power at the on-premises edge. Ideally suited for industries with complex electrification systems such as in manufacturing, energy, utilities, and data centers, Pratexo’s flagship product Power Guardian™ uses open and proven technologies to ensure your electrification infrastucture is reliable, efficient, and flexible enough to meet rapidly evolving market needs.

More information on Blaine Mathieu (Chief Executive Officer, Pratexo): https://pratexo.com/about-pratexo/ + https://www.linkedin.com/in/bmathieu/ 

 

 

 

 

 

 

EMR Additional Notes: 

  • Cloud Computing:
    • Cloud computing is a general term for anything that involves delivering hosted services over the internet. … Cloud computing is a technology that uses the internet for storing and managing data on remote servers and then access data via the internet.
    • Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. Large clouds often have functions distributed over multiple locations, each location being a data center.
  • Edge Computing:
    • Edge computing is a subsection of cloud computing. While cloud computing is about hosting applications in a core data centre, edge computing is about hosting applications closer to end users, either in smaller edge data centres or on the customer premises instead.
    • Edge computing is a form of computing that is done on site or near a particular data source, minimizing the need for data to be processed in a remote data center.
    • Edge computing can enable more effective city traffic management. Examples of this include optimising bus frequency given fluctuations in demand, managing the opening and closing of extra lanes, and, in future, managing autonomous car flows.
    • An edge device is any piece of hardware that controls data flow at the boundary between two networks. Edge devices fulfill a variety of roles, depending on what type of device they are, but they essentially serve as network entry — or exit — points.
    • There are five main types of edge computing devices: IoT sensors, smart cameras, uCPE equipment, servers and processors. IoT sensors, smart cameras and uCPE equipment will reside on the customer premises, whereas servers and processors will reside in an edge computing data centre.
    • In service-based industries such as the finance and e-commerce sector, edge computing devices also have roles to play. In this case, a smart phone, laptop, or tablet becomes the edge computing device.
    • Edge Devices:
      • Edge devices encompass a broad range of device types, including sensors, actuators and other endpoints, as well as IoT gateways. Within a local area network (LAN), switches in the access layer — that is, those connecting end-user devices to the aggregation layer — are sometimes called edge switches.
  • Edge-to-cloud:
    • Edge to cloud is what enables data to flow seamlessly between the edge and the rest of the cloud environment. Data is collected in edge nodes, which transmit the relevant material to the centralized cloud.
    • This approach seamlessly integrates edge devices with centralized cloud services, forming a continuum where data can flow seamlessly between the two. Edge devices preprocess and filter data before sending it to the cloud for further analysis, storage, and long-term insights.
    • Edge to cloud refers to the fact that enterprise data is no longer confined to the data center; It is being generated at the edge in ever-growing amounts, processed and stored in the cloud, and used by an increasingly distributed global workforce
  • Data Centers:
    • A data center is a facility that centralizes an organization’s shared IT operations and equipment for the purposes of storing, processing, and disseminating data and applications. Because they house an organization’s most critical and proprietary assets, data centers are vital to the continuity of daily operations.
  • Hyperscale Data Centers:
    • The clue is in the name: hyperscale data centers are massive facilities built by companies with vast data processing and storage needs. These firms may derive their income directly from the applications or websites the equipment supports, or sell technology management services to third parties.