Uplight will acquire AutoGrid to provide single platform for integration, monetization of distributed energy resources
The company Uplight announced an agreement last week with Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) provider Autogrid that will lead to its acquisition and creation of a single united platform for distributed energy resources (DERs).
The acquisition will better position Uplight for the energy transformation push, helping it to better pitch its mix of load flexibility and grid management. The company noted that, until this point, utilities and energy companies have lacked a unified platform for dealing with grid-scale flexible capacity.
“The grid is at a critical inflection point that demands integrated, effective digital solutions to accelerate electrification, efficiency, and decarbonization,” Luis D’Acosta, CEO of Uplight, said. “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.”
By combining, Uplight and Autogrid will employ more than 700 employees worldwide. This will also allow the companies to enroll more energy customers and expand the number of DERs enrolled into load flexibility programs as Uplight integrates AutoGrid’s Flex platform. Flex opens the door to more asset types and classes, such as electric vehicles, water heaters and grid-scale storage, on their combined platform. Going forward, customers will also be able to use Uplight’s enhanced flexibility solutions to tailor programs for utilities, grid operators, energy producers and businesses from across the country and across markets.
Total, the united pair will manage 8,300 MW of flexible resources for clients.
“Energy companies are increasingly looking for a solution which encompasses the full spectrum of flexibility management, from grid scale batteries down to devices in people’s homes,” Ruben Llanes, CEO of AutoGrid, said. “By joining forces, we are creating a truly world-class experience for those energy companies, ecosystem partners, and energy customers alike – all powered by our shared mission and global expertise.”
The deal should close sometime early next year, although it is subject to regulatory approval.
