Sign In  |  Register  |  About Santa Clara  |  Contact Us

Santa Clara, CA
September 01, 2020 1:39pm
7-Day Forecast | Traffic
  • Search Hotels in Santa Clara

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Uplight to Acquire AutoGrid, Expanding Clean Energy Offerings, Markets, and Business Models

Acquisition places Uplight at the center of energy transformation imperatives: electrification, digitization, and decarbonization

Uplight, the technology partner to energy providers transitioning to a decarbonized future, today announced an agreement to acquire AutoGrid, a Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) provider, fundamentally expanding its partners, programs, and ability to create and manage flexible capacity for energy grids around the globe. The combined capabilities of Uplight and AutoGrid will provide utilities and new energy players with a single platform to integrate, orchestrate, and monetize distributed energy resources (DERs).

As decarbonization and electrification rapidly change the needs of the energy ecosystem, reliable load flexibility has become essential to managing the grid. Until now, utilities and energy companies have not had a single, unified platform to create grid-scale flexible capacity. This acquisition solves for that, delivering more residential and business customer participation, more grid-connected devices, and new energy flexibility options to utilities and other players across today’s dynamic energy value chain.

“The grid is at a critical inflection point that demands integrated, effective digital solutions to accelerate electrification, efficiency, and decarbonization,” said Luis D’Acosta, CEO of Uplight. “Our new platform will combine Uplight’s deep customer engagement capabilities and AutoGrid’s leading renewables and flexible capacity management solutions to provide a vibrant connected ecosystem where our utility clients, energy users, and equipment manufacturers can accelerate their impact in the energy transition.”

"Energy companies are increasingly looking for a solution which encompasses the full spectrum of flexibility management, from grid scale batteries down to devices in people's homes," said Ruben Llanes, CEO of AutoGrid. "By joining forces, we are creating a truly world-class experience for those energy companies, ecosystem partners, and energy customers alike – all powered by our shared mission and global expertise.”

Driving increased value for energy clients

Together, Uplight and AutoGrid will bring additional value to customers who enroll grid-connected assets, broaden the ecosystem of participating devices, and enable significant deployable flexible load in service of a decarbonized and resilient grid.

  • Enrolling more energy customers: Uplight’s ability to engage and enroll customers into utility energy programs has already resulted in a reach of over 110 million homes and businesses through its clients. This expertise will further accelerate participation in current AutoGrid programs.
  • More grid-connected devices: Uplight’s integration of the AutoGrid Flex™ platform will expand the number of DERs enrolled into load flexibility programs. Flex will bring additional asset types and classes, including more EVs, water heaters, HVAC systems, solar, and grid-scale storage—all powered by a single, unified platform.
  • More program options: Clients will be able to draw from a comprehensive set of flexibility solutions to tailor programs for utilities, grid operators, energy producers, and businesses across increased market segments and geographies. Programs will leverage Uplight’s engagement and marketplace capabilities to connect customers and assets to turnkey virtual power plants, multi-DER orchestration, DERMS, energy storage management, microgrid management, fleet management, energy market access, and beyond—managing 8,300MW of flexible resources for its clients.

AutoGrid is currently owned by Schneider Electric, which is also a strategic investor in Uplight. The combined entity will employ more than 700 employees globally.

"To meet global decarbonization goals and accelerate a clean energy future, the industry needs a fully integrated platform to unlock grid flexibility at scale,” said Nadege Petit, Chief Innovation Officer of Schneider Electric. “Incorporating the demand side capabilities from AutoGrid into Uplight creates a Prosumer energy platform supporting VPPs and other load flexibility programs to make the grid more resilient, reliable, affordable, and sustainable.”

The deal is expected to close in early 2024, pending regulatory approval. Financial terms of the deal are not being disclosed at this time.

Debevoise & Plimpton LLP acted as counsel to Schneider Electric and AutoGrid in the transaction, while Cooley LLP counseled Uplight on the deal.

For more information about Uplight, please visit uplight.com. For more information about AutoGrid, please visit auto-grid.com.

About AutoGrid

AutoGrid is committed to accelerating access to sustainable energy in order to combat the climate crisis. AutoGrid’s AI-driven software makes electric vehicles, batteries, roof-top solar, utility-scale wind and other distributed energy resources (DERs) smarter. 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 experience 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 disrupt the dependency on fossil-fuel based energy.

About Uplight

Uplight is the premier software partner to utilities who are leading the charge to a clean energy future. The company’s leading customer engagement, enrollment and load flexibility platform helps energy providers around the world accelerate decarbonization efforts, make the grid more resilient and reduce energy costs with a reach of more than 110 million households and businesses. With Uplight, utilities can achieve critical outcomes and deliver data-driven experiences for their customers by turning smart devices into assets to optimize the grid for a more sustainable future. To learn more about how Uplight, a certified B Corporation, delivers demand-side, customer-centric solutions, visit https://uplight.com/.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SantaClara.com & California Media Partners, LLC. All rights reserved.