Wärtsilä has signed a contract to acquire Greensmith Energy Management Systems Inc, a US-based leader in intelligent energy storage technology and solutions.
The acquirement of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator.
The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä, which is expected to occur no later than July.
Founded in 2008, Greensmith is also a recognised leader in systems integration and is responsible for deploying about a third of total US energy storage capacity last year.
Specialising in energy storage optimisation and integration software, the company today employs over 40 people and has delivered in excess of 180MW to some of the largest power companies globally.
Greensmith has developed a world-leading energy management software system called GEMS, currently offered in its fifth generation. This platform enables utilities, engineering procurement and construction companies, as well as independent power producers, to manage and monitor individual systems or an entire fleet of systems. This they then use to identify and diagnose equipment issues in real time, which extends system performance and longevity, and increases return on investment.
The company also offers a commercial and industrial (C&I) and micro-grid solution called OMNI4.
Energy storage is expected to grow exponentially as it becomes an integral part of any energy system. With this in mind, Wärtsilä aims to become a global systems integrator with full in-house capabilities specialising in solutions that offer the combination and optimisation of different forms of power generation, energy storage and demand side management.
Having an integration software platform is a must and acquiring Greensmith gives Wärtsilä an industry-leading platform to offer across an installed base of over 63GW of power generation around the world.
Wärtsilä Energy Solutions president Javier Cavada said: "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."
Greensmith CEO John Jung stated: "We are very excited to become a key part of Wärtsilä. The combination of Greensmith’s proven technologies and Wärtsilä’s global footprint in advanced energy and power plants will fuel significant growth in both the integration and solutions market."
For further information please contact Wärtsilä via the enquiry form on this page.