Mitsubishi Electric Corporation has agreed to acquire the UK-based energy software company Smarter Grid Solutions (SGS) for an undisclosed sum.
The firm’s software allows distributed energy resources (DER) to be integrated together and operated in unison as a “virtual power plant”.
“We are very excited to bring SGS into Mitsubishi Electric. They are committed to the mission of decarbonizing electric power production and have spent the last decade developing world-class products and processes,” said Brian Heery, president and chief executive Mitsubishi Electric Power Products.
“We look forward to marrying their products with our suite of grid control products to help our customers respond to changes and still get the best performance from their electric grids.”
Noriyuki Takazawa, group president of energy and industrial systems group at Mitsubishi Electric Corporation, said: “SGS offers innovative solutions have helped power utilities in Europe and North America install, manage and optimize renewable energy resources, and we look forward to bringing that DER management core competency to new markets around the globe.”
“We are thrilled to join Mitsubishi Electric and expand the reach of our energy management enterprise software to DER customers around the globe and – in turn – assist those customers to better manage DER assets as they strive to decarbonize their operations,” said SGS chief executive Brent Marshall.
The acquisition of the company, which has its headquarters in Glasgow, is expected to be completed in the next several weeks.