ENEL ACQUIRES US-BASED ENERGY STORAGE SOFTWARE AND PROJECT DEVELOPER DEMAND ENERGY
Enel S.p.A. (“Enel”), through its subsidiary Enel Green Power North America, Inc. (“EGPNA”), has acquired a 100 percent stake in Demand Energy Networks, Inc. (“Demand Energy”), a US-based company specialised in intelligent software and energy storage systems.
“Through this transaction we will be able to greatly strengthen our position in the growing battery storage market with a complementary partner and innovator,” said Francesco Venturini, Enel’s Head of Global Renewable Energies. “By combining our global presence and expertise in systems integration with Demand Energy’s software and established product offering, we will expand the development of renewables and storage both in the US and globally, delivering a clean, reliable, high-tech and cost-effective energy solution.”
Enel will work with Demand Energy, which has established itself as a leader in the New York City storage market, delivering value to commercial and industrial customers, to expand deployment of the company’s Distributed Energy Network Optimization System (DEN.OSTM), an intelligent software controls platform that enables real-time optimisation of energy management and revolutionises the way electricity is generated, stored and consumed.
Demand Energy’s DEN.OS provides an end-to-end solution that delivers value across the entire life cycle of a project. The innovative platform and cloud-based analytics are scalable and can address the needs of any power market segment, delivering value across a broad range of storage applications. DEN.OS’s platform provides the analytics and control needed to aggregate energy management across multiple facilities, creating an online virtual power plant that operates more efficiently and multiplies savings.
Demand Energy’s core experience is in the behind-the-meter storage market. The company has carried out 24 projects since its creation, totalling 3 MW/9 MWh of installed capacity in both the USA and Latin America, and boasts a pipeline in excess of 30 MW/100 MWh.
“Our acquisition by Enel underscores the strategic intersection of renewable energy production, energy storage and an intelligent software controls platform,” said Gregg Patterson, Demand Energy President and CEO. “Our DEN.OS energy management system, based on patent-pending controls and economic optimisation technology, facilitates the design, integration and operation of energy assets and services on both sides of the utility meter. We’re very pleased to become part of Enel, which will lead to expanded product and service offerings and global market opportunities.”
Following the transaction, Enel will provide Demand Energy with access to one of the world’s most innovative and both technologically and geographically diversified portfolios of renewable energy projects, which stretches over 24 countries and includes more than 1,000 operational plants. The acquisition directly supports Enel’s global business strategy by increasing operational efficiency and enhancing digitisation to drive growth, performance, and flexibility, while creating valuable product offerings for its existing and new customer base.
Source:enel
