Revolutionizing Grid Management with Strategic Acquisition
Uplight, the technology partner in the transition to a decarbonized future, has announced its acquisition of AutoGrid, a leader in Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) solutions. This move is set to significantly enhance Uplight’s capabilities in creating and managing flexible capacity for global energy grids.
Addressing Crucial Grid Challenges
The acquisition comes at a pivotal moment as decarbonization and electrification reshape the energy landscape. Uplight and AutoGrid’s combined expertise will provide utilities and new energy players with a unified platform to seamlessly integrate, orchestrate, and monetize distributed energy resources (DERs).
Delivering Unprecedented Value to Energy Clients
Together, Uplight and AutoGrid aim to bring added value to customers by enrolling more energy customers, expanding the ecosystem of participating devices, and offering diverse program options. The comprehensive set of flexibility solutions will cater to utilities, grid operators, energy producers, and businesses across various market segments and geographies.
Driving Force for Energy Transition
The joint entity will leverage Uplight’s deep customer engagement capabilities and AutoGrid’s leading renewables and flexible capacity management solutions. This collaboration aims to create a connected ecosystem, enabling utility clients, energy users, and equipment manufacturers to accelerate their impact in the energy transition.
Expected Closure in Early 2024
AutoGrid, currently owned by Schneider Electric, will join forces with Uplight, a strategic investor. The deal is anticipated to close in early 2024, subject to regulatory approval. The financial terms of the deal have not been disclosed.
This strategic move signifies a significant step toward creating a resilient, reliable, and sustainable energy grid, supporting global decarbonization goals. For more information about Uplight and AutoGrid, visit uplight.com and auto-grid.com, respectively.
Source：businesswire.com
