KION has taken a stake in ifesca
KION Group is acquiring a stake of just under 20% in ifesca, a specialist in software for the energy industry. The group's investment, totalling around EUR5 million (USD5.8 million), makes it the second-largest shareholder in ifesca.
Founded in 2016 in Ilmenau, Germany, ifesca specialises in digital energy management solutions. The company employs a team of 35 people and has developed ifesca.AIVA, an innovative forecasting software that uses artificial intelligence to help manage energy grids more efficiently in near-real time. The algorithm-based application learns more quickly the longer it is used, which means that it is continually improving the predictive power and quality of the data. The end result is that users are able to make better forecasts. This specialist software has been designed to predict how much energy will be consumed and generated - particularly from renewable sources - and to efficiently manage and optimise production based on the supply and use of energy.
"Thanks to ifesca's AI-based software, we will be able to offer our customers a complete solution for their energy management needs," explains Stefan Prokosch, senior vice president of brand management at Linde Material Handling, a subsidiary of the KION Group. "The platform's ultra-precise forecasts will allow customers to plan the optimum operating times for their fleets of industrial trucks to avoid peaks in loading and unloading, and, in doing so, to significantly reduce their energy costs. The platform also has open interfaces, which means it can be easily and flexibly integrated into existing energy management systems. This adds genuine value for our customers and, therefore, for us, too," says Prokosch in its praise.
"Our goal is to provide optimum support for decision-making processes through our innovative software solutions, particularly in the area of forecasting and optimisation, as well as related services," says Sebastian Ritter, CEO of ifesca. "The focus is on ease of use and the intuitive integration of business processes. We are delighted to have found, in KION GROUP, a strategic investor for whom our AI-based software will provide huge customer benefit."
Electric-powered industrial trucks already account for around 87% of the order intake in KION's Industrial Trucks & Services segment.