QCELLS expands its energy storage solutions through acquisition of Geli
Solar module provider Q
CELLS announced this week that it has signed an agreement to acquire 100% stake
in San Francisco-based energy storage solutions company Growing Energy Labs,
Inc. (Geli). The transaction is subject to customary closing conditions.
Geli’s software platform
streamlines the energy storage development process, offering a solution for
design, automation and management of Battery Energy Storage Systems (BESS), it
says. The company says that its software uses AI to determine the optimal size
of the BESS and maximize the potential revenue stack for customer deployments.
Geli advances BESS
deployments coupled with solar and EV charging infrastructure often in
combination with an electricity tariff or load profile. Geli’s products have cloud
architecture and Industrial IoT technologies that support scalability and
extensibility across multiple geographies, market segments, and hardware
solutions.
With the acquisition Q
CELLS says it will be able to provide integrated solar + storage solutions.
“There is increasing
demand in the energy storage space for comprehensive energy solutions. We are
excited to welcome the Geli team and work together to strengthen our
competitiveness in the global distributed energy market. Q CELLS and Geli’s
combined capabilities will allow us to provide smart energy solutions to our
customers and together we can unfold the next chapter towards a cleaner
tomorrow.” Hee Cheul (Charles) Kim, CEO of Q CELLS said.
