Climate-AI Pioneer AutoGrid to Be Acquired by Schneider Electric to Accelerate Energy Transition
AutoGrid, the leader in artificial intelligence (AI)-driven optimization for distributed energy resources (DERs), announced today that it has signed a definitive agreement to be acquired by Schneider Electric, the global specialist in energy management and automation. The transaction is subject to regulatory approval and other customary closing conditions and is expected to close in Q3, 2022. The acquisition will provide AutoGrid with the resources and global reach to accelerate its growth and pace of product innovation.
“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. “We are excited to create maximum impact with our customers by accelerating the reach and scale of AutoGrid.”
Schneider Electric and AutoGrid have been working together as partners since 2015 and announced a fully integrated Advanced Distribution Management System (ADMS) and Distributed Energy Resources Management System (DERMS) two years ago. In January 2022, the energy industry’s leading independent research firm Guidehouse Research ranked the Schneider Electric - AutoGrid DERMS solution as #1 in the world.
“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.”
AutoGrid’s technology plays a direct role in combating climate change. For over a decade, AutoGrid has pioneered the science of flexibility management to enable wide-scale renewable energy adoption. Their democratized energy internet smooths out sudden fluctuations in renewable energy supply and customer energy demands. AutoGrid’s AI-powered Virtual Power Plant (VPP) and Distributed Energy Resources Management (DERMS) Platform offers a sustainable alternative to dirty and expensive fossil-fuel dependent backup power plants by managing and deploying additional untapped capacity from batteries, electric vehicles and flexible load. AutoGrid has transformed the century-old, one-way, electricity grid architecture into a two-way flow of electrons that gives consumers the freedom and economic incentive to combat climate change with their energy decisions
“We started AutoGrid with the singular mission of accelerating the world's access to sustainable energy,” said Amit Narayan, Founder and CEO of AutoGrid. “I am grateful for the help we have received from Schneider Electric as an ardent supporter throughout this journey. I can say with confidence that we couldn’t have found a better partner who is more aligned in terms of our values and commitment to the mission to decarbonize our planet. I am now looking forward to the next chapter to scale our technology even faster to solve this urgent climate crisis facing us.”
Founded in 2010, with the mission of combatting climate change by accelerating access to clean, affordable & reliable energy globally. AutoGrid’s AI-driven software empowers energy consumers, creators and distributors with a smart orchestration platform giving them access to electric vehicles, batteries, roof-top solar, utility-scale wind and other distributed energy resources (DERs). By enabling prediction, optimization, and real-time control of millions of energy assets at an unprecedented scale, AutoGrid is making the vision of a decentralized, decarbonized, and democratized new energy world a reality.
With over a decade of pioneering innovation across the globe, AutoGrid offers fleet owners, energy-as-a-service companies, renewable project developers, utilities, and electricity retailers the ability to build, own, operate, and participate in intelligent and scalable Virtual Power Plants (VPPs) enabling them to break their dependency on fossil-fuel based energy. AutoGrid Flex platform is managing over 6,000 MW of VPPs in 15 countries – everything from an electric vehicles, storage or solar panels in a home, to microgrids in a campus or industrial site, and utility scale storage and renewable farms – and is ranked as the #1 Virtual Power Plant and the #1 Distributed Energy Resources Management Platform in the world (according to the latest global ranking by industry-leading research and analysis firm Guidehouse Insights).
Additional info can be found at: http://www.auto-grid.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
HCL and UNLEASH Partner to Develop Solutions for Aquatic Ecosystem Conservation20.5.2022 18:59:00 EEST | Press release
HCL Group and UNLEASH, a global innovation program for the UN Sustainable Development Goals (SDGs), announced a year-long collaboration to mobilize youth and develop innovative solutions to promote aquatic ecosystem conservation. These solutions will aim to tackle challenges from Source (mountains & glaciers) to Sink (oceans and seas) and their links to terrestrial ecosystems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005178/en/ Nature and ocean conservation play a critical role in our survival. Terrestrial and aquatic ecosystems provide us with food, water, oxygen, energy, and medicines. They regulate our climate, provide pollination to crops, and reduce the impact of natural hazards. Despite the vital importance of our planet’s ecosystems, we are experiencing a human-caused deterioration of our natural habitats: human activity has altered almost 75% of the Earth’s terrestrial surface, squeezing wildlife and natu
PPG Showcases Innovations in Paints, Coatings, Specialty Materials That Enhance Sustainability, Efficiency, Mobility20.5.2022 15:00:00 EEST | Press release
PPG (NYSE:PPG) today showcased its latest innovations to media at its production and research and development (R&D) facility in Amsterdam. The event focused on advancements in three key areas – sustainability, efficiency and mobility – reflecting the company’s goals of helping customers lower costs, reduce their environmental footprint and support the global shift to electric vehicles (EVs). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005101/en/ PPG showcased its latest innovations to media at its production and research and development facility in Amsterdam on May 20. The event focused on advancements in three key areas – sustainability, efficiency and mobility – reflecting the company’s goals of helping customers lower costs, reduce their environmental footprint and support the global shift to electric vehicles. (Photo: Business Wire) Recent PPG innovations highlighted during the event include: PPG CORACHAR® batte
Ecopia AI Partners with Snap Inc. Subsidiary to Pilot 3D Map Content Integration20.5.2022 14:00:00 EEST | Press release
Ecopia AI announced today that it was selected by a Snap Inc. subsidiary to provide high-precision vector mapping data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005091/en/ Sample of the 3D Vector Map of Buildings and Vegetation Generated by Ecopia AI Leveraging Airbus Imagery (Photo: Business Wire) Ecopia leverages advanced AI-based mapping systems to mine the most up-to-date commercially-available geospatial imagery, accessed through its global partner network, outputting high-precision vector maps. For this initiative, Ecopia turned to Airbus for access to their global premium 30-50cm high-resolution imagery database, which is serving as the input imagery for large-scale map content production. “Ecopia has proven their ability to deliver highly-accurate mapping data at a large-scale with unparalleled speed,” said Snap, Inc subsidiary spokesperson. “Ecopia’s mission is to digitize the world using AI, offering hi
B2Broker Announced Annual Payments for B2Core, MarksMan, and B2Trader Products20.5.2022 11:00:00 EEST | Press release
B2Broker is excited to announce that it now offers an annual payment option for the three core products: MarksMan, B2Core, and B2Trader. With the introduction of this new plan, customers will be provided with a discount and a simpler approach to planning their budget. This change will allow the company to streamline its finances and improve cash flow. The annual plan is already applicable to all three products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005015/en/ B2Broker Announced Annual Payments for B2Core, MarksMan, and B2Trader Products (Graphic: Business Wire) MarksMan Whether you're a seasoned pro or just getting started in the world of digital assets, MarksMan is the perfect solution. With support for spot and perpetual futures liquidity, along with easy access to liquidity pools on major crypto exchanges, MarksMan has everything you need. There's no better time to test it out than now, with the basic packa
Harm Reduction Policies Key to Improve Europeans’ Health20.5.2022 07:00:00 EEST | Press release
Yesterday, the Platform for Better Preventive Healthcare organised a policy briefing “What are the next steps for the EU addictions policy”, hosted by Czech Member of the European Parliament (MEP) Radka Maxová (Socialists and Democrats). The briefing gathered healthcare experts and political stakeholders to discuss the Report of the Special Committee on Beating Cancer (BECA) adopted last February by the European Parliament. The discussion focused on the impact of COVID-19 on mental health and addictions management. Recent data shows that the pandemic led to an increase in addictive behaviours related to alcohol, gambling, tobacco and digital addictions among Europeans. Deferring to the best available scientific evidence, the BECA Report acknowledged the importance of harm reduction policies like the use of harm reduction products such as e-cigarettes. The panel discussion echoed the Report’s recommendations and Prof. Viktor Mravčík, Head of Science at the Institute of Rational Addictio
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom