Distributed energy resource management system (DERMS) provider AutoGrid said on May 11 that it has been acquired by Schneider Electric, a global company focused on energy management and automation. The companies said the acquisition will provide AutoGrid with additional resources and global reach to accelerate growth and innovation.
Distributed energy resources (DER) will play an increasingly larger role in the energy delivery sector as utilities work to reduce carbon emissions from large-scale fossil-fuel fired power plants while simultaneously increasingly electrification of transportation and heating/cooling.
AutoGrid’s AI-powered virtual power plant (VPP) and distributed energy resources management (DERMS) platform help decarbonize the energy sector by managing and deploying additional untapped energy capacity from DER such as batteries, electric vehicles and flexible load.
Schneider Electric and AutoGrid have been working together as partners since 2015 and announced a fully integrated advanced distribution management system (ADMS) and DERMS two years ago. In January 2022, Guidehouse Research ranked the Schneider Electric – AutoGrid DERMS solution as #1 in the world.
The transaction is subject to regulatory approval and other customary closing conditions and is expected to close in Q3, 2022.
