BERLIN - PSI Software (ETR:SOWGn) SE has announced a significant structural reorganization with the launch of its "PSI Reloaded" program, aimed at consolidating its position as a modern, integrated software company. The restructuring, which took effect on Sunday, involves the merger of the company's German subsidiaries and the creation of a new business unit dedicated to energy management.
The newly formed "Grid & Energy Management (GEM)" unit is a result of combining previously separate activities in the areas of electrical and interconnected grids, gas grids and pipelines, energy trading systems, and smart grids. This move is designed to address the convergence of the electricity, gas, and heat sectors and their regulatory interdependencies. With over 900 energy experts, PSI aims to enhance project execution speed and flexibility.
Furthermore, PSI is developing a cross-sector control system that promises to be scalable, web and cloud-capable, and equipped to meet both current and future sector requirements. This system is expected to facilitate rapid upgrades, allowing for quicker implementation of new functions and improvements, which should benefit both customers and PSI by streamlining resource use and reducing project timelines.
The restructuring, which began mid-year with the merger of PSI's German subsidiaries, will see the company's business divided into five industry segments: Grid & Energy Management, Process Industries, Discrete Manufacturing, Logistics, and Mobility. These segments will also form the basis for PSI's financial reporting starting from the fourth quarter of 2024.
PSI Software SE, an independent software producer since 1969, specializes in optimizing the flow of energy and materials for utilities and industry. The company prides itself on combining AI methods with proven optimization techniques to ensure sustainable energy supply, mobility, and production.
This strategic decision is part of PSI's ongoing efforts to adapt to the evolving needs of the energy sector and maintain its technological leadership. The information is based on a press release statement from PSI Software SE.
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