Yokogawa and Power Factors Announce Reseller Agreement for Renewable Energy Asset Performance Management Platform
Yokogawa Electric Corporation (TOKYO: 6841) and US-based Power Factors, LLC, announce a global reseller agreement under which Yokogawa will market Power Factors’ industry-leading Drive software platform of asset performance management (APM) solutions for renewable power facilities.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201201005653/en/
Power Factor’s Drive platform for asset performance management (Graphic: Business Wire)
Designed for solar, wind, and energy storage assets, Power Factors’ cloud-based Drive platform for APM delivers the tools and insights needed to optimize the levelized cost of energy (LCOE*) and address the complex integration of large, diverse fleets of renewable energy assets. The platform empowers owners and operators to overcome their biggest challenges, from dealing with aging control technology and disparate systems to the management of data quality, asset performance, and regulatory compliance.
Yokogawa’s renewable energy product portfolio includes edge devices, control platforms, a range of services including system design, and advanced solutions for the optimization of energy storage devices. In an industry with multiple original equipment manufacturers (OEMs), asset types, and interfaces, the combination of Power Factors’ flagship APM platform with Yokogawa’s industrial automation systems and global service network gives owners and operators the ability to deploy a standardized hardware infrastructure and software interface across their different plants for more efficient management and analysis.
Dave Roberts, senior vice president at Power Factors, said, “We are excited to partner with Yokogawa to deliver our industry-proven Drive platform globally. The suite of solutions enables owners and operators of disparate renewable energy assets to maximize their production and revenue opportunities in ever-changing markets. Merchant, hybrid, hedging, and ancillary services offtake opportunities require complex control and optimization capabilities. Through this agreement, we will combine best-in-class asset performance management with best-in-class instrumentation, automation, and control from Yokogawa.”
Koji Nakaoka, Yokogawa vice president and head of the Global Sales and Industrial Marketing Headquarters, commented, “We have high expectations for the synergies that this agreement with Power Factors will generate, both in terms of technology and market development. Yokogawa has served major power and energy companies worldwide for many decades, and, as the world transitions to renewable energy, we will continue to offer industry-leading solutions to our customers.”
The powerful combination of Yokogawa’s expertise in field sensors, data acquisition, and control with Power Factors’ advanced analytics and APM software will support leading renewables companies as they meet the challenges of efficiently expanding and optimizing renewable energy sources. With a shared understanding that meaningful insights start with trustworthy data, Power Factors and Yokogawa have partnered to support the growth of the renewable energy industry and contribute to a cleaner, more sustainable future.
* Levelized cost of energy represents the average revenue per unit of electricity generated that would be required to recover the costs of building and operating a generating plant during an assumed financial life and duty cycle.
For more information
Yokogawa’s renewable energy solutions: https://www.yokogawa.com/industries/renewable-energy/
Power Factors’ Drive platform: https://pfdrive.com/products/
About Power Factors, LLC
Our mission is to deliver software and services to make renewable energy the world’s leading power generation source. Power Factors consolidates multiple operational data sources, asset hierarchies and metadata frameworks to create a single cloud-based remote asset management platform that works with today’s large-scale portfolios. With embedded connections to maintenance workflows, Power Factors streamlines processes, reduces costs and increases ROI of assets. Implementation and Customer Success Services ensure customers realize value from the platform quickly and for the life of the asset. Learn more at pfdrive.com.
The Power Factors Drive software platform provides clean energy owners, operators and asset managers with a unified system for monitoring, performance analytics, field maintenance and commercial management to enable scalable plant performance optimization fleet wide. In addition, the Drive platform connects to other business tools, seamlessly integrating with applications for weather and market data, enterprise resource planning (ERP) and more.
Founded in 1915, Yokogawa engages in broad-ranging activities in the areas of measurement, control, and information. The industrial automation business provides vital products, services, and solutions to a diverse range of process industries including oil, chemicals, natural gas, power, iron and steel, and pulp and paper. With the life innovation business, the company aims to radically improve productivity across the pharmaceutical and food industry value chains. The test & measurement, aviation, and other businesses continue to provide essential instruments and equipment with industry-leading precision and reliability. Yokogawa co-innovates with its customers through a global network of 114 companies spanning 62 countries, generating US$3.7 billion in sales in FY2019. For more information, please visit www.yokogawa.com
Yokogawa Electric Corporation
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Renewable Energy, Power & Water Sales Center
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