Windar Photonics unveils Windar Nexus software suite for enhanced wind turbine performance
() , a developer of LiDAR equipment and software for wind turbines, announced its new software platform Windar Nexus.
The platform represents a major advancement in Windar's product suite as it allows local end-user customers of its WindEye Lidar product line to monitor their fleets without any need of modular connectivity to the centralised Windar Control Center in Copenhagen. This effectively eliminates any external connectivity issues associated with increasing network and internet security policies being implemented by the customers.
Besides general monitoring of system parameters, the software suite constantly monitors and reports potential modifications to achieve accurate yaw optimisation of the individual wind turbine, which in turn increases annual power production.
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Windar Photonics' new software platform 'Windar Nexus' should result in further efficiency and power output gains for its customers' wind turbine fleets. For Windar, the suite will reduce sales barriers to new customers by eliminating the need for modular connectivity requirements, rendering local internet network/security policies irrelevant to Windar's products. Additionally, having a local software platform running on customers' sites opens up opportunities to promote new software elements focused on further turbine optimisaion and general monitoring services that would have been otherwise difficult to implement.
As wind has become the cheapest source of electricity, and with net zero targets drawing closer, demand for Windar's solutions is projected to grow. By using LiDAR technology, Windar's WindEYE can detect wind direction precisely and make fine adjustments to a turbine's yaw control to ensure perfect alignment with the wind. This opimitsaion results in an increase in the turbine's annual energy production by 1-4%. Demand for LiDAR technology is expected to reach US$201.2m by 2028 with a CAGR of 8.1%.
Moreover, Windar's LiDARs are engineered for cost-efficiency, enabling to provide LiDAR sensors at c. 80% less cost compared to other manufacturers in the industry. stock is up 35% in the past year on the back of rising demand. Most recently, the company announced a €2.6m order from an existing Chinese customer for delivery in FY24 while order volumes from North America, Australia and Japan remain strong. In its most recent interim results, Windar reported a 220% jump in revenues and 290% jump in gross profits to €1.3m and €0.74m respectively, while EBITDA loss narrowed significantly to €0.27m from €0.74m the prior year as the group nears profitability.
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