September 3 (Renewables Now) - BayWa r.e. renewable energy GmbH has taken over Toronto-based software house PowerHub, which develops a cloud-based asset intelligence software solution that can be used in the field of renewables.
BayWa r.e. said on Tuesday that the purchase of PowerHub extends the scope of its digital technology services for renewable energy operations. PowerHub, which will continue to operate independently, presently offers asset intelligence to customers in 20 countries around the world.
"With the additional investment and resources BayWa r.e. will provide, we will be able to significantly accelerate and enhance the development of our business and software platform to offer even greater benefits and functionality to our global customer base,” stated Etienne Lecompte, CEO of PowerHub.
The renewables arm of German diversified group BayWa AG (ETR:BYW6) announced the acquisition of PowerHub a month after unveiling the takeover of another Canadian business -- solar distributor and service provider National Solar Distributors Inc.