Zurich, Switzerland - ABB has announced a significant expansion of its relationship with U.S.-based technology company Pratexo, entering into a strategic partnership that includes a minority investment through ABB's venture capital unit, ABB Technology Ventures (ATV). The partnership will focus on co-developing edge computing solutions to boost security, autonomy, and resilience in decentralized electrical networks.

Pratexo's industry-leading technology platform, tailored to support IoT and artificial intelligence applications, enables rapid development of systems capable of processing vast amounts of data in real time. By leveraging the company's no-code development platform, Pratexo Studio, ABB aims to revolutionize how edge-to-cloud digital solutions are designed, providing clients with vital insights to make informed decisions for future operations.

The collaboration between ABB and Pratexo will offer customers the ability to deploy networks that provide real-time insights, with additional benefits such as improved data privacy and security. An example of this innovation can be found in customized, decentralized software solutions that allow grid operators to manage electrical systems in real time and rapidly respond to changes in power availability and consumption.

Stuart Thompson, President of ABB's Electrification Service Division, praised the partnership, stating: "Investing in and partnering with innovative startups like Pratexo advances our technological services capabilities to provide enhanced industry 4.0 business outcomes to our customers. With the open technology stack from Pratexo, we can deploy and scale the transition seamlessly, securely, and in a bespoke manner."

This partnership with Pratexo is in line with ABB's commitment to invest in next-generation technology startups and further supports decarbonization efforts. As a member of the ABB SynerLeap innovation growth hub, Pratexo was also recognized as one of three winners of ABB Electrification's 2022 Startup Challenge.

ABB's dedication to innovation in electrification, robotics, automation, and motion portfolio has seen the company invest around $300 million since 2009.

Source: ABB