Scottish tech firm Smarter Grid Solutions has been acquired by Mitsubishi Electric Corporation’s subsidiary Mitsubishi Electric Power Products.
SGS is a leading global provider of distributed energy resources management software for power distribution utilities.
Electric grid operators throughout the world are experiencing an increasingly complex mix of new decentralised power generation and clean energy resources. SGS offers highly flexible, scalable controls solutions for capacity management, flexible interconnection, virtual power plants, microgrids, fleet energy asset operations and energy as a service.
“We are very excited to bring SGS into Mitsubishi Electric. They are committed to the mission of decarbonising electric power production and have spent the last decade developing world-class products and processes,” said Brian Heery, President and CEO of Mitsubishi Electric Power Products.
“We look forward to marrying their products with our suite of grid control products to help our customers respond to changes and still get the best performance from their electric grids.”
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Noriyuki Takazawa, Group President of Energy and Industrial Systems Group, Mitsubishi Electric Corporation, added: “The SGS solutions align with the Mitsubishi Electric Environmental Sustainability Vision to realize a decarbonised society by the year 2050 through reduced greenhouse gas emissions.”
The acquisition is expected to close in the coming weeks. Upon close, SGS – which also has an office in New York City – will maintain operations in Glasgow.
Brent Marshall, CEO of SGS, said: “We are thrilled to join Mitsubishi Electric and expand the reach of our energy management enterprise software to customers around the globe and – in turn – assist those customers to better manage assets as they strive to decarbonise their operations.”