Uplight to acquire DERMS provider AutoGrid
Photo by Oxana Melis on Unsplash
Uplight, a software provider for utilities, announced an agreement to acquire AutoGrid, a Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) provider.
The capabilities of Uplight and AutoGrid will be combined in a single platform to integrate, orchestrate, and monetise distributed energy resources (DERs).
Uplight says the acquisition can lead to more customers enrolled in utility energy programs, more DER connections, and more program options for utilities, grid operators, energy producers, and businesses across increased market segments and geographies. AutoGrid’s software specialises in electric vehicles, batteries, roof-top solar, utility-scale wind and other DERs.
“The grid is at a critical inflection point that demands integrated, effective digital solutions to accelerate electrification, efficiency, and decarbonisation,” said Luis D’Acosta, CEO of Uplight.
“Our new platform will combine Uplight’s deep customer engagement capabilities and AutoGrid’s leading renewables and flexible capacity management solutions to provide a vibrant connected ecosystem where our utility clients, energy users, and equipment manufacturers can accelerate their impact in the energy transition.”
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AutoGrid is currently owned by Schneider Electric, which is also a strategic investor in Uplight. Schnieder Electric acquired AutoGrid last year. The combined entity will employ more than 700 employees globally. The deal is expected to close in early 2024, pending regulatory approval.
Earlier this year, Uplight announced it has reached more than 330,000 grid-connected devices under management.
The company enrolled more than 3,000 devices per week in the second half of 2022, a 150% increase compared to 2021. This is the equivalent of 50 MW of incremental flexible load, or one fewer peaker plant, every four months, it said.
The enrollment achievement comes two years after receiving a strategic investment from a consortium of investors and as the company continues to scale and solidify its performance for its utility clients. Uplight launched 34 client projects in 2022, all while achieving a 40% efficiency gain in speed to launch.
Originally published by Sean Wolfe on, and edited with permission from, Power Grid.
