AutoGrid, a specialist in AI-driven optimization for distributed energy resources (DERs), has signed a definitive agreement to be acquired by Schneider Electric.
Schneider Electric and AutoGrid are no strangers to one another, as they have previously partnered on a fully integrated advanced distribution management system, as well as a distributed energy resources management system (DERMS), which was released two years ago.
Schneider Electric focuses on products for sustainability and efficiency, including XW Pro and SW hybrid inverters, MPPT charge controllers, power distribution panels, InsightHome and InsightFacility edge devices, and accessories. Three years ago, it pulled out of the utility-scale segment in order to strengthen its profile in the residential and commercial and industrial space.
"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 Nadege Petit, chief innovation officer at Schneider Electric.
AutoGrid's product smooths out sudden fluctuations in renewable energy supply and customer energy demands. The company's AI-powered virtual power plant (VPP) and DERMS offers a sustainable fossil-fuel dependent backup power plants by managing and deploying additional untapped capacity from batteries, electric vehicles, and flexible load.
"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."
In February, Schneider Electric purchased a controlling stake in EnergySage, an online comparison-shopping marketplace for rooftop solar, energy storage, project financing, and community solar. The capital from that acquisition is expected to allow EnergySage to accelerate its growth and product innovation.
About Schneider Electric
Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
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