LATVIAN TECH FIRM AERONES RAISES $62 MILLION TO EXPAND AI-ENABLED WIND TURBINE MAINTENANCE
By Virginia Furness
LONDON (Reuters) – Latvian tech company Aerones, known for serving clients like GE and Enel, has secured $62 million in funding to support its global deployment of robots and AI solutions aimed at protecting and maintaining thousands of wind turbines across more than 30 countries, according to the CEO in an interview with Reuters.
Wind power currently contributes almost 10% of the world’s energy generation and is experiencing rapid growth. However, a large number of turbines still rely on manual maintenance, leading to extended downtime periods that result in significant financial losses for energy companies and turbine operators.
Aerones’ innovative robots have the capability to service and maintain large wind turbine blades in half the time it would take human workers, offering an efficient, safe, and cost-effective solution for industry expansion, as stated by co-founder and CEO Dainis Kruze.
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Kruze emphasized, “The industry is expanding rapidly, and maintenance poses a significant challenge. Downtime of wind turbines costs more than the labor itself, leading to increased expenses in renewable energy production.”
He added, “Our approach is proactive; we focus on preventing the blades from failing rather than waiting until they do.”
The recent equity funding round was spearheaded by U.S. investors Activate Capital and S2G Investments. Aerones also received a 4 million euro grant from the EU Innovation Fund and secured an additional 30 million euro funding round back in 2023.
With a significant presence in the United States, Aerones saw the importance of partnering with U.S. entities this time, Kruze mentioned. The company established an office in Dallas, Texas, in the previous year and is actively recruiting and training local talent.
Looking ahead, Kruze revealed plans to return to the market later this year to raise approximately $15 million to $20 million in venture debt.
Since 2020, Aerones has played a significant role in generating nearly 400,000 MWh of additional clean electricity and preventing 165,000 tonnes of carbon emissions, as stated in the company’s official statement.
(Reporting by Virginia Furness; editing by David Evans)
