AutoGrid, a specialist in artificial intelligence (AI)-driven optimization for distributed energy resources (DERs), signed a definitive agreement to be acquired by Schneider Electric. Schneider Electric and AutoGrid are no strangers to one another, having previously partnered on a fully integrated advanced distribution management system and distributed energy resources management system (DERMS), released two years ago.
Schneider Electric focuses on products for sustainability and efficiency including XW Pro and SW hybrid inverters, MPPT charge controllers, power distribution panels, InsightHome and InsightFacility edge devices, as well as accessories. Three years ago, Schneider Electric pulled out of the utility scale segment in order to strengthen its profile in the residential and C&I space.
“Schneider Electric and AutoGrid have a shared vision for a more sustainable world through electrification, digitization and decarbonization. With AutoGrid, we can deliver significant value to energy companies by delivering cutting-edge technologies to drive adoption of smart grids and reduction of carbon emissions,” said Nadège Petit, Chief Innovation Officer at Schneider Electric.
AutoGrid’s product smooths out sudden fluctuations in renewable energy supply and customer energy demands. The company’s AI-powered virtual power plant (VPP) and DERMS offers a sustainable fossil-fuel dependent backup power plants by managing and deploying additional untapped capacity from batteries, electric vehicles, and flexible load.
“Joining forces with AutoGrid will give customers the most advanced platform to integrate and orchestrate distributed energy resources for the benefit of all grid stakeholders,” said Luis D’Acosta, Executive Vice President of Digital Energy at Schneider Electric. “These new capabilities will accelerate prosumer engagement for a more sustainable and efficient grid.”
In February Schneider Electric purchased a controlling stake in EnergySage, an online comparison-shopping marketplace for rooftop solar, energy storage, project financing, and community solar. The capital from that acquisition is expected to allow EnergySage to accelerate its growth and product innovation.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.