Beginning, Autogrid, a pioneering AI-based optimization company for Distributed Energy Resources (DER), on a mission to accelerate access to clean, reliable and affordable energy, announced the signing of a definitive acquisition agreement by Schneider Electric, a global specialist in automation and energy management. The transaction, subject to obtaining regulatory clearance and certain customary closing conditions, is expected to close in the coming months.
AutoGrid builds AI-powered software that helps make the world of energy smarter and offers a truly integrated flexibility management suite for the unpredictable energy industry: AutoGrid Flex.
This suite has three applications designed expressly for the most flexible use cases, including distributed generation, battery storage, and demand response resources: Autogrid DROMS, Autogrid VPP, and Autogrid DERMS. Schneider Electric had also collaborated with Autogrid for this DERMS platform, which was ranked first in the world by the main independent research company in the energy sector, Guidehouse Research.
Autogrid and Schneider Electric: the same vision for sustainable electricity
AutoGrid and Schneider Electric have announced various partnerships since 2015 intended to strengthen their position in edge control and analytics software for microgrids and distributed energy resources, a market expected to be worth more than $50 billion in the coming years.
In 2019, the two companies presented their joint solution: “Advanced Distribution Management System” (ADMS) which integrated “Schneider Ecostructure” into the AutoGrid Flex™ suite and the creation of a distributed energy resources management system (DERMS) .
Dr. Amit Narayan, Founder and CEO of Autogrid, said:
“As distributed energy resources proliferate, electric utilities are looking for a way to balance supply and demand on a complex, dynamic, and multi-directional grid. Combining our solution with Schneider’s capabilities allows utilities to leverage data to balance a distributed grid with flexible capacity of all DERs connected to the grid. »
In January 2020, the two companies signed a global reseller agreement allowing Schneider Electric to distribute AutoGrid Flex™ to electric utilities to automate the entire value chain, from consumers to the control center.
This acquisition will provide AutoGrid with the resources and global reach to accelerate its growth and pace of product innovation. Nadège Petit, Innovation Director at Schneider Electric, says:
“Schneider Electric and AutoGrid share the vision of bringing about a more sustainable world through electrification, digitalization and decarbonization. Thanks to AutoGrid, we will be able to bring a strong added value to energy companies by offering them cutting-edge technologies capable of stimulating the adoption of smart grids and the reduction of carbon emissions. We are excited to create maximum impact with our customers by amplifying the reach and scale of AutoGrid. »
Accelerating global access to sustainable energy
AutoGrid’s technology plays a direct role in the fight against climate change.
The AutoGrid Energy Internet Platform™ (EIP) delivers advanced energy data, the speed and scale needed to forecast, optimize and control tens of thousands of Distributed Energy Resources (DERs) and millions of participants, using trillions of data points, in real time.
AutoGrid’s Virtual Power Plant (VPP) and Distributed Energy Resource Management (DERMS) platform provides a sustainable alternative to polluting and costly fossil fuel-dependent standby power plants by managing and deploying additional untapped capacity from batteries, electric vehicles and flexible charging. Amit Narayan concludes:
“We launched AutoGrid with the unique mission of accelerating global access to sustainable energy. I am grateful for the help we received from Schneider Electric as a strong supporter throughout this journey. I can say with confidence that we could not have found a better partner more aligned in terms of values and commitment to the mission of decarbonizing our planet. I now look forward to the next chapter to evolve our technology even faster to solve this urgent climate crisis we face. »
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Energy transition: Autogrid announces its acquisition by Schneider Electric
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