(BRK.A), (BRK.B)
There is no doubt that these days there’s power in big data. And for Berkshire Hathaway Energy there’s literally more power that can be derived at lower cost through the use of predictive analytics.
BHE has signed a deal with recent start-up Uptake Technologies to look for early sign that its wind turbines might be failing due to damage.
Founded by entrepreneur and investor Brad Keywell, Uptake is a predictive analytics SaaS platform that delivers solutions in major industries that increase productivity, reliability, and safety. Uptake’s platform aggregates enterprise and external data and applies cross-industry data science to produce high-value, actionable insights. Uptake’s platform is powered by a continuous feedback loop, recommending impactful actions that are then optimized by human intelligence.
Keywell is also the Managing Partner of Lightbank, a venture fund investing in disruptive technology businesses.
The Uptake agreement is only the latest move as Berkshire’s commitment to wind power has rapidly grown.
In April 2016, Berkshire Hathaway Energy announced plans for a $3.6 billion, 2,000 megawatt wind farm in Iowa known as Wind XI. The plant, which will feature 1,000 wind turbines, and will be owned by MidAmerican Energy Company, a unit of Berkshire Hathaway Energy.
When the wind farm is completed, MidAmerican will generate 85 percent of its energy in Iowa from wind.
“We have a dream to deliver 100 percent renewable energy to our customers,” MidAmerican CEO Bill Fehrman said during the announcement of the Iowa project.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.