Business Wire

Wärtsilä Completes Acquisition of Greensmith Energy Management Systems Inc.

Jaa

The technology group Wärtsilä, today announced that it has closed the acquisition of Greensmith Energy Management Systems, Inc., a market leader in grid-scale energy storage software and integrated solutions. The companies announced the acquisition in May following a year-long global cooperation on stand-alone energy storage and hybrid energy solutions.

In 2016, Greensmith’s revenue was USD 32 million with over 40 employees. The transaction is valued at USD 170 million (enterprise value). Greensmith will operate as a business unit within Wärtsilä Energy Solutions providing both stand-alone energy storage as well as hybridized energy systems, control software, and integration expertise.

The acquisition will enable Wärtsilä to rapidly expand its footprint in the energy storage market globally and position itself as a premier energy system integrator. Growth in the energy storage market is expanding from the United States to new regions including the United Kingdom, Asia and Australia. When Wärtsilä engine plants are further optimized with energy storage, new sources of value can be offered to customers and partners. Also, the growing capacity of renewable generation, including solar PV, becomes more sustainable and attractive when integrated with advanced energy storage.

“The acquisition of Greensmith positions Wärtsilä as a global leader in energy system integration and hybrid solutions,” said Javier Cavada, President of Wärtsilä Energy Solutions. “Greensmith brings an unmatched track-record of software and systems integration capabilities, having delivered a third of all 2016 energy storage installations in North America. Wärtsilä’s global footprint with extensive sales and services network, besides its proven EPC expertise, will create significant synergies and growth.”

As a proven energy storage solutions and software company, Greensmith has integrated and installed over 60 grid-scale systems including an 80MWh turn-key system recently deployed in California in under 4 months to address a capacity emergency. The company provides a full range of capabilities – from full turn-key solutions to design and integration services and a fifth generation software package (GEMS) that today supports multiple energy and power applications. Since 2013, Greensmith has also deployed five grid-scale systems in the PJM frequency regulation market (Pennsylvania, Jersey, Maryland power pool), the world’s largest wholesale market, and serves a growing number of independent power producers, investor-owned utilities, and engineering procurement and construction companies around the world.

“The Greensmith team is excited and honored to become an integral part of Wärtsilä, a global leader in energy solutions”, said John Jung, Greensmith President & CEO. “With the accelerating growth in the energy storage market, as well as, the need for more integrated, intelligent hybrid energy solutions – the timing could not be better.”

Wärtsilä Energy Solutions in brief

Wärtsilä Energy Solutions is a leading global energy system integrator offering a broad range of environmentally sound solutions. Our offering includes ultra-flexible internal combustion engine based power plants, utility-scale solar PV power plants, energy storage & integration solutions, as well as LNG terminals and distribution systems. The flexible and efficient Wärtsilä solutions provide customers with superior value and enable a transition to a more sustainable and modern energy system. As of 2017, Wärtsilä has 63 GW of installed power plant capacity in 176 countries around the world.

www.smartpowergeneration.com

Wärtsilä in brief

Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.

www.wartsila.com

Greensmith in brief

As the leading provider of energy storage software and integration services, Greensmith’s mission is to make energy storage a fundamental part of a cleaner, more intelligent and distributed energy infrastructure. Now in its fifth generation, Greensmith’s GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing system return on investment.

Greensmith Energy designs and deploys the world’s most advanced energy storage systems. From grid-scale to behind-the-meter and microgrid solutions, the Greensmith GEMS software platform enables effective and efficient delivery of stable power with unsurpassed performance and profitability.

Facts:

  • 180 megawatts of energy storage
  • Powering over 60 sites globally
  • Working with over 25 customers, including utilities and independent power producers (IPPs)
  • Unparalleled expertise in integrating 16 different batteries and 14 different inverters

www.greensmithenergy.com

Contact information

For further information please contact:
Wärtsilä Energy Solutions
Javier Cavada
President
+358 10 709 5297
javier.cavada@wartsila.com
or
Risto Paldanius
Director, Energy Storage
+358 40 584 2767
risto.paldanius@wartsila.com
or
Greensmith Energy
Mallory Sass
Director of Marketing
+1 408.966.5950
msass@greensmithenergy.com
or
For investor information, please contact:
Wärtsilä Corporation
Natalia Valtasaari
Director, Investor and Media Relations
+358 10 709 5637
natalia.valtasaari@wartsila.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

The Listing of Money Trade Coin on Cryptocurrency Exchange and the Rising Promise of a New Era in Dubai21.9.2017 20:45Tiedote

MONEY TRADE COIN, the new age cryptocurrency, dazzled its investors’ expectations by listing on NovaExchange. Immediate trading began post the launch by Money Trade Coin’s founder and CEO, Mr. Amit Lakhanpal and H.E. Sheikh Saqer Al Nahyan. The listing event held on September 17 at Burj Al Arab was witnessed by a list of 40 VIP businessmen including H.E. Sheikh Jumaa Al Maktoum, Mr. Faisal Almaazmi, his principal advisor and director of Greenland Capital Properties, Mr. Charles Said Kiwan founder of MVP Tech and Mr. Khaled Abdulla, Head of Communications MENA at Barclays PLC. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170921006013/en/ Amit Lakhanpal greets H.E. Sheikh Saqer Al Nahyan (Photo: AETOS Wire) Money Trade Coin, the propagator of the “Cryptocurrency correct knowledge” l

Triaconta Announces a New Safe Way to Invest in Cryptocurrencies21.9.2017 19:18Tiedote

Triaconta wants to minimize the risks of investing in cryptocurrencies with Combicoin to make the cryptocurrency market accessible for a larger audience. CombiCoin is 100% asset backed by the top 30 cryptocurrencies with the highest market cap. Because of this the CombiCoin will not suddenly plunge and investors will have less risks when there are major fluctuations. There are over 1000 cryptocurrencies on the market and together they represent a value of 130 billion USD. However, all these coins are very volatile. For example, the value of bitcoin grew from 1000 to 4000 USD within six months. The value of Ethereum, the second largest cryptocurrency, rose from 150 to 400 USD within 6 months but plunged to 150 USD 4 weeks later. In the first six months of 2017 the top 30 of cryptocurrencies grew with 1200 percent. The value of CombiCoin is determined for 3.3

TIP Trailer Services Announces the Successful Refinancing of its ABS program21.9.2017 18:16Tiedote

On 21 September 2017, TIP Trailer Services announced that it had successfully refinanced its Asset Backed Securitisation (ABS) program. The Pan-European program was originally established in 2014 and is a securitisation structure common under Dutch law for operating leases. The new program will run until March 2019. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170921005815/en/ At the official signing of the TIP ABS refinancing were: From left to right: Jorrit Achterberg (Legal Counsel, TIP Trailer Services), Patrick Vergouwen (International Investor Relations Manager, TIP Trailer Services), Bart de Boo (Director, Asset Based Finance, Rabobank), Gert Huizing (Quality Assurance Manager Capital Market Services, Intertrust), Leo van der Sman (Legal Counsel, Intertrust) (Photo: Business Wire) “The extra funding and improved co

Tohatsu, Major Outboard Manufacturer, to Launch Global Brand Campaign Targeting Millennial Generation Boat Users21.9.2017 17:30Tiedote

On September 21, 2017, Tohatsu Corporation (headquartered in Tokyo, Japan; hereinafter "TOHATSU") announced the outline of its global brand campaign at the 57th Genoa International Boat Show held in Genova, Italy. TOHATSU’s global brand campaign based on a new branding strategy will be deployed at boat shows around the world, starting from the Genoa International Boat Show in September 2017. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170921005018/en/ Feel the Wind (Photo: Business Wire) The campaign sets “SMARTS” millennials as its core target, revealing TOHATSU’s new brand logo, “Blue Wings” and its unique “Simpliq™ Technology” The feature of the new branding strategy is its target demographic called “SMARTS”, millennial boat owners (born between 1977 and 199

Sigma Systems Chief Technology Officer to Address CSPs at Futurecom 201721.9.2017 17:00Tiedote

Sigma Systems, the global leader in catalog-driven software, has today announced that its Chief Technology Officer, Catherine Michel, will be speaking at Futurecom 2017 – the largest ICT event in Latin America. Catherine will address communications service providers (CSPs) and industry professionals at the Sao Paulo event on what’s driving the digitalization mandate for operators. Ahead of her presentation, Catherine commented: “The digitalization of the CSP is about transforming business operations, based on a thorough understanding of customer needs, behaviours and experiences. This requires a shift in corporate culture, and many CSPs are not making the changes necessary to embrace digital innovation and become market leading digital service providers. To deliver on a digital transformation, operators must embrace digital innovation and enable the rapid launch a

Encanto Potash Corp Secures CAD $100 Million Capital Commitment from GEM Global21.9.2017 16:00Tiedote

Encanto Potash Corp. ("Encanto" or the "Company") the TSX-V listed Potash development; Mining and Operating company (TSX-V: EPO) is pleased to announce that it has secured a commitment for a CAD $100 million funding facility. Under the funding agreement signed 15th September, 2017 (the "Agreement"), GEM Investments America, LLC and GEM Global Yield LLC SCS undertake to invest up to CAD $100,000,000 over the next three years. The proceeds will be used to commence the engineering and design phase of the mine in anticipation of a shovel-ready construction date of September 2019. Under a joint venture agreement with Muskowekwan Resources Ltd and Chief Reginald Bellerose of the First Nation’s Muskowekwan tribe, Encanto has secured the mineral rights for the mine and completed preliminary studies. In the interim, proceeds will also be used for the procurement an

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme