Business Wire

Wärtsilä Completes Acquisition of Greensmith Energy Management Systems Inc.

3.7.2017 17:05 | Business Wire

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

Boehringer Ingelheim starts clinical study on interchangeability between its adalimumab biosimilar candidate and HUMIRA®27.7.2017 16:00Tiedote

Boehringer Ingelheim announced today that the first patient has been enrolled into its VOLTAIRE-X interchangeability study. The goal of the study is to demonstrate that BI 695501 is interchangeable with the U.S.-marketed formulation of Humira®* 40mg/0.8mL. This is the first study in the U.S. to investigate an interchangeability designation for an adalimumab biosimilar candidate. The study will compare the pharmacokinetics and clinical outcomes between patients receiving Humira® continuously, versus those who switch repeatedly between Humira® and BI 695501, Boehringer Ingelheim’s adalimumab biosimilar candidate.1 The study will also assess safety, immunogenicity and efficacy.1 “We are pleased that the first patient has now been enrolled in VOLTAIRE-X, and look forward to continued recruitment and patient follow-up,” said Ivan Blanarik, Senior Vice President and Head of

Acxiom Launches Connected Spaces27.7.2017 15:30Tiedote

Today, Acxiom® (Nasdaq: ACXM), in collaboration with Adobe, announced the launch of Connected Spaces, a global solution aimed at delivering more relevant omnichannel experiences to customers. Connected Spaces is designed to revolutionise customer experience and business returns for retail, travel and leisure locations such as airports, malls, sports stadiums, concert arenas and resorts. A pioneering example is Heathrow airport. Heathrow is able to deliver more relevant communications to customers in real-time as part of its overall engagement strategy and is already generating exceptional results including an increase in spend of 20-25 percent for engaged customers. Common to airports, malls and the like is a high footfall of consumers who intend to visit multiple concession, franchise, or subcontracted brands operating in their environments. This can translate to a relative

Watch BizWireTV: Helix Brings DNA Kits to the Public and Michael Kors Gets Ready to Buy Jimmy Choo27.7.2017 15:08Tiedote

On the latest BizWireTV, catch the latest Quick Biz Hits. Also see what’s happening in the startup world with the Accelerator Report, featuring the VC Watch and this week’s Startup Standout. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170727005456/en/ BizWireTV is hosted by Jordyn Rolling (Photo: Business Wire) Now you can watch BizWireTV, and the latest breakthroughs in tech from the biggest brands, on any screen you want by downloading the new app through the Apple TV and iPhone App Store and Google Play for Android devices. Top of the Wire Helix launches first online consumer marketplace for DNA-powered products that offer insights on ancestry, entertainment, family, fitness, health and nutrition. Watch BizWireTV to

European Commission Grants Orphan Drug Designation to Allena Pharmaceuticals’ Investigational Therapy for the Treatment of Primary Hyperoxaluria27.7.2017 14:05Tiedote

Allena Pharmaceuticals, Inc., a specialty biopharmaceutical company dedicated to bringing first in class, specific, non-absorbed, oral enzyme therapeutics to patients with serious renal, urologic and orphan diseases, announced today that the European Commission has granted orphan drug designation to Allena’s investigational product ALLN-177, Bacillus subtilis oxalate decarboxylase, for the treatment of primary hyperoxaluria (PH). The orphan designation was granted to Allena Pharmaceuticals Ireland Limited, a subsidiary of Allena Pharmaceuticals, Inc. Allena’s lead compound ALLN-177, is being developed to treat patients with severe hyperoxaluria, a condition characterized by markedly elevated urinary oxalate excretion. PH, a type of severe hyperoxaluria, is a rare genetic disorder caused by endogenous overproduction of oxalate by the liver that can result in kidney stone disease, kidney

Subscription Period for Superior Industries’ Tender of UNIWHEELS AG’s Shares to Close Monday, July 31, 201727.7.2017 09:00Tiedote

Superior Industries International, Inc. (NYSE:SUP), one of the world’s largest manufacturers of aluminum wheels, reiterated today that the subscription period for the tender offer to acquire all remaining outstanding shares of UNIWHEELS AG (“UNIWHEELS”) will close Monday, July 31, 2017. On June 30, 2017, Superior announced it had commenced a tender offer to acquire the remaining 954,920 shares held by the public shareholders, which represents approximately 7.7% of the total outstanding shares of UNIWHEELS, for cash consideration of 247.87zl per share. Superior acquired the other approximately 92.3% of the outstanding shares through a tender offer that was settled on May 30, 2017, where the public shareholders also received cash consideration of 247.87zl per share. Following the settlement of the tender offer, Superior will finalize the proceedings to delist UNIWHEELS’ common stock from

Ipsen Delivers Strong Sales Growth of 18.8%1 in the First Half of 2017 and Upgrades Its Guidance for Full Year 201727.7.2017 08:00Tiedote

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group, today announced financial results for the first half of 2017. H1 2017 Highlights Strong operating performance of 18.8%1 Group sales growth and Core Operating Income margin improvement by 1.2 points to 26.2% of sales Specialty Care sales growth of 23.1%1 reflects continued Somatuline® momentum and includes contribution of key new products Cabometyx® and Onivyde® Consumer Healthcare sales growth of 1.3%1 including contribution of newly acquired products Upgraded full year 2017 guidance of Specialty Care sales growth greater than 24.0%1, slight growth1 of Consumer Healthcare sales, and Core Operating Income margin greater than 25.0% o

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