November 6 (Renewables Now) - BayWa re renewable energy GmbH, the renewables unit of German diversified group BayWa AG (ETR:BYW6), has invested in Raycatch, an Israeli start-up that has developed an artificial intelligence (AI)-based technology for solar farms.
The investment round was led by BayWa re's venture capital unit BayWa re Energy Ventures Inc and Boston-based DSM Venturing, together with Maverick Ventures Israel and Rio Ventures.
Raycatch's software called DeepSolar helps owners and operators of large-scale photovoltaic (PV) plants to maximise their return on investment, BayWa re said today. The software provides recommendations on what actions technicians need to take on where and when.
"Raycatch's highly innovative software solution, which is the first in the solar industry to use AI to conduct string level performance analysis to predict possible incidents and disruptive factors, has the potential to revolutionise the PV market," commented Ulrich Seitz, managing director of BayWa re Energy Ventures.
The chief executive of Raycatch, Haggai Hofland, said the partnership will provide the start-up with access to a large asset portfolio within BayWa re and with the chance to demonstrate its software on a large scale.