UGent spin-off Mind4Energy raises capital from LRM and QBIC

Mind4Energy develops software for monitoring the performance of solar parks and aims to become an international player in this increasingly important sector. The Ghent company plans to open a service centre in Limburg before the end of the year in order to better serve its customers in this region.

Mind4Energy, a Ghent University spin-off, was founded in 2011. Originally, the focus was on the design of photovoltaic systems (PV systems). In a second phase, the company started the development of PV plant monitoring software and built up a portfolio of international customers in this field.

In collaboration with Ghent University, Mind4Energy developed dedicated software that is able to monitor all the parameters of a PV plant (capacity, currents, voltages, efficiency, availability, etc). Alarms, error messages and performance reports can also be generated. This system reduces operational costs for customers: loss of power is detected instantly and therefore minimised. Furthermore, the appropriate technician can be sent to the site immediately, resulting in lower maintenance costs.

Mind4Energy, in partnership with Phoenix Contact, has also designed hardware for on-site data acquisition. This hardware collects all the data from a PV power plant using industrial quality components and forwards it to Mind4Energy’s monitoring servers. This hardware also allows so-called “demand response”, meaning that control signals from the grid operator can be distributed across the PV installations.

The new injection of capital will allow Mind4Energy to expand sales and increase internationalisation. The company will also open a service centre in Limburg in order to provide a direct service to its customers in this region. This will eventually lead to the creation of eight new jobs.