Wärtsilä acquires Greensmith Energy Management Systems
The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc., a US-based leader in intelligent energy storage technology and solutions, for an undisclosed amount. The acquisition of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market.
The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä after closing of the transaction which is expected to occur no later than July 2017.
Founded in 2008, Greensmith is in energy storage technology and systems integration, responsible for deploying about a third of total US energy storage capacity in 2016. Specializing in energy storage optimization and integration software, the company today employs over 40 people and has delivered in excess of 180 MW to some of the largest power companies globally.
Greensmith has developed an energy management software system called GEMS, currently offered in its fifth generation. This platform enables utilities, Engineering Procurement and Construction companies and Independent Power Producers to manage and monitor individual systems or entire fleet of systems, identifying and diagnosing equipment issues in real time, and extending system performance and longevity-therefore increasing return on investment. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4.
"Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match," says Javier Cavada, President at Wärtsilä Energy Solutions.
Comments