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TEL AVIV – PainReform Ltd. (NASDAQ:PRFX), a specialty pharmaceutical company, has completed the acquisition of DeepSolar, an AI-driven solar analytics platform, from BladeRanger Ltd. (TASE:BLRN). According to InvestingPro data, BladeRanger has been facing financial challenges, with its stock down over 10% in the past year and trading at 1.75 USD. The transaction, which closed today, represents PainReform’s strategic move into the clean energy sector, leveraging DeepSolar’s technology to optimize solar energy management.
DeepSolar’s AI platform is designed to increase solar farm efficiency and profitability by providing monitoring, predictive maintenance, and actionable insights. This integration with existing SCADA systems aims to reduce operational costs for customers by up to 30%, which could enhance their profitability. InvestingPro analysis reveals that BladeRanger has been struggling with weak gross profit margins and rapid cash burn, making this acquisition particularly significant for both companies. Subscribers can access 15 additional ProTips about BladeRanger’s financial position.
The acquisition allows PainReform to target a broader customer base, including utility-scale solar operators and residential users. With the solar energy market projected to grow substantially, the company is positioning itself to capitalize on the expanding sector.
According to the SolarPower Europe report, the solar market is expected to continue growing at a rapid pace, with the residential solar market alone valued at $94.2 billion in 2024. DeepSolar’s solutions address inefficiencies in solar asset management, presenting a significant market opportunity for PainReform in both B2B and B2C segments.
Ehud Geller, Chairman and interim CEO of PainReform, stated that the acquisition aligns with the company’s strategy to invest in high-margin, technology-driven sectors while advancing pharmaceutical innovations. The integration of AI-powered analytics into solar energy management is anticipated to open a new revenue channel and enhance shareholder value.
In the acquisition, PainReform received all rights, title, and interest in various assets from BladeRanger, including intellectual property and customer relations. BladeRanger, in turn, received 178,769 ordinary shares of PainReform, representing 9.9% of the issued and outstanding share capital, and additional warrants for future share purchases.
PainReform plans to issue more securities post-share capital increase at a shareholders meeting scheduled for April 3, 2025. The core team managing DeepSolar at BladeRanger is also joining PainReform.
While PainReform continues to focus on its drug delivery technologies, including PRF-110 for post-surgical pain relief, the acquisition of DeepSolar is seen as a forward-thinking investment in a high-growth sector. BladeRanger’s InvestingPro Financial Health Score of 1.27 (rated as WEAK) suggests this deal could benefit both companies. The company expects the scalable SaaS platform of DeepSolar to drive revenue growth and is exploring strategic partnerships with utility companies and solar technology providers. For detailed analysis of similar investment opportunities in the renewable energy sector, consider exploring InvestingPro’s comprehensive market insights and portfolio ideas.
This news article is based on a press release statement from PainReform Ltd.
In other recent news, PainReform Ltd. announced its acquisition of DeepSolar, an AI-driven solar analytics platform, from BladeRanger Ltd. This strategic move marks PainReform’s entry into the renewable energy sector, traditionally focusing on pharmaceutical technologies. The transaction is anticipated to conclude by February 2025, subject to customary conditions. PainReform aims to use DeepSolar’s technology to enhance the efficiency and profitability of solar energy assets, offering real-time monitoring and automated maintenance solutions. This acquisition allows PainReform to diversify its portfolio and explore the high-margin solar energy market. The agreement includes BladeRanger receiving ordinary shares and warrants in PainReform, with restrictions to limit ownership. Certain BladeRanger employees will also join PainReform under new employment agreements. The global residential solar market, valued at $94.2 billion in 2024, presents a significant opportunity for PainReform to leverage DeepSolar’s technology. This development is part of PainReform’s strategy to create shareholder value while advancing its pharmaceutical endeavors.
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