“Leveraging the respective strengths of the Cycle team and Vayu this joint venture creates a first-of-its-kind, repowering partnership,”
SAN FRANCISCO (PRWEB) May 17, 2021
VayuAI Corp., (“VayuAI”) the cloud automation technology solution for improving wind farm energy output, and Cycle Development, (“Cycle”) a Portland, OR wind farm repowering developer, today announced a reseller agreement under which they will provide combined solutions to increase production at existing US wind farms. Under the Agreement, valued at $350M, Cycle acquires 20 GW of VayuAI cloud computing, optimization and machine learning technology over a ten-year deployment. The agreement positions Cycle as the leading independent wind farm repowering solution implementer for increased operating capacity.
“Leveraging the respective strengths of the Cycle team and Vayu this joint venture creates a first-of-its-kind, repowering partnership,” said Peter Blood, Managing Partner and Founder. “Together we deliver a complete repowering solution for US wind farms with Vayu’s best -in-class cloud, edge, AI and 5G technologies along with Cycle’s expertise in design and development for maximum repower value. “
“This combination of VayuAI’s advanced software and optimization solutions with Cycle’s hardware deployment experience opens the door for wind farms to immediately increase annual energy production, preserve production tax credits, extend life, reduce operations and maintenance costs, and optimize energy and capacity. Customers will be able to carefully manage plans to extend production tax credits while moving more intelligently into a flexible approach to valuable assets based on careful planning and informed decision making to balance capital costs, benefits and timing to maximum wind farm advantage,” said Jim Kiles, VayuAI CEO.
The US repowering market continues to grow, estimated at $30B by 2030, according to a recent National Renewable Energy Lab (NREL) study.
About Cycle Development, LLC
Cycle Development is an energy project development and portfolio management company specializing in optimizing and repowering operating mature wind farms in North and South America. For more information visit http://www.cycle.dev.
About VayuAI Corp.
VayuAI is a cloud computing optimization service that can significantly increase wind farm energy production. Vayu applies machine learning and physics-based algorithms against unpredictable wind data, locally and globally, to identify cooperative action among multiple wind turbines, diminishing risk from turbulence while increasing power production. Learn more at http://www.vayuai.com.