Wärtsilä Corporation, press release, 3.7.2017 17:00 EEST
Teknologikoncernen Wärtsilä announced today that the acquisition of Greensmith Energy Management Systems Inc., the market leader in software and embedded solutions for large-scale energy storage, is completed. The companies announced the acquisition in may, after a year-long global cooperation in the stand-alone energy storage and hybridenergilösningar.
Greensmith had 2016 sales of $ 32 million and over 40 employees. The transaction is valued at 170 million USD (business valuation). Greensmith will be a business unit in Wärtsilä Energy Solutions and provide both stand-alone energy storage as hybrid energy systems, kontrollprogramvara and integreringsexpertis.
With the acquisition of Greensmith increases Wärtsilä, its influence on the global energilagringsmarknaden and is positioning itself as a leading global energisystemintegrerare. The growth in the energilagringsmarknaden takes place not only in united states but also in new regions such as the Uk, Asia and Australia. When Wärtsilä’s power plants can be further optimized with energy storage can customers and partners be offered new opportunities to the business value. In addition, the increased capacity for renewable power generation, t.ex. solar energy, more sustainable and attractive when it is combined with advanced energy storage.
“With the acquisition of Greensmith becomes Wärtsilä is a global leader in the integration of energy systems and hybrid solutions,” says Javier Cavada, director for Wärtsilä’s Energy Solutions. “Greensmith is very successful in the integration of software and systems. The company delivered in 2016 a third of all energilagringsinstallationer in north America. Wärtsilä’s global influence with a large sales and service network, and proven expertise in delivery of turnkey solutions will provide significant synergy and growth.”
As a proven provider of solutions and software for energy storage has Greensmith integrated and installed more than 60 large-scale systems. The latest project was a turnkey 80 MWh-system fixed a critical capacity problems in California and was in use in under four months. The company has a large range of capabilities – from turnkey solutions to design and integration services and a fifth-generation software packages (GEMS) that can be used in many different energy applications. Since 2013 has Greensmith also distributed five large-scale systems in RECENT-frekvensregleringsmarknaden (Pennsylvania, Jersey and Maryland), the world’s largest wholesale market, and provide service to a growing number of independent power producers, investerarägda energy companies and companies in engineering, procurement and construction around the world.
“Greensmith team is excited to be such an important part of Wärtsilä, a global leader in advanced energy solutions,” said John Jung, ceo of Greensmith. “With the increasing growth in the energilagringsmarknaden and the need for more integrated, intelligent hybridenergilösningar could the timing not be better.”
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Caption: the Agreement was signed by Javier Cavada, director for Wärtsilä’s Energy Solutions and John Jung, ceo of Greensmith Energy Management Systems Inc.
For further information, please contact:
Javier Cavada
Director
Wärtsilä Energy Solutions
Tel: +358 10 709 5297
javier.cavada@wartsila.com
Risto Paldanius
Director, Energy Storage
Wärtsilä Energy Solutions
Tel. +358 40 584 2767
risto.paldanius@wartsila.com
Mallory Sass
Director, marketing
Greensmith Energy
Tel: +1 408 966 5950
msass@greensmithenergy.com
For investor information, please contact:
Natalia Valtasaari
Director, investor and media relations
Wärtsilä Oyj Abp
Tel: +358 10 709 5637
natalia.valtasaari@wartsila.com
Wärtsilä Energy Solutions in brief
Wärtsilä Energy Solutions is a leading global energisystemintegratör which offers a range of environmentally friendly solutions. Our solutions are ultraflexibla power plants with internal combustion engines, large-scale solar power plants, energy storage and integration solution as well as LNG terminals and distribution systems. Wärtsilä’s flexible and efficient solutions give customers a great added value and allows for a transition to a more sustainable and modern energy systems. By 2017, Wärtsilä has 63 GW of installed power generation capacity in 176 countries around the world.
www.smartpowergeneration.com
Wärtsilä in brief
Wärtsilä is a leading provider of advanced technologies and full-lifecycle solutions for the marine and energy markets. With an emphasis on sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of its customers ‘ vessels and power plants. In 2016, Wärtsilä’s net sales to eur 4.8 billion with approximately 18,000 employees. The company is represented at over 200 locations in over 70 countries throughout the world. Wärtsilä’s shares are listed on Nasdaq Helsinki.
www.wartsila.com
Greensmith in brief
Greensmith is a leading provider of energilagringsprogramvara and integration services, and aims to make energy storage a fundamental part of a cleaner and more intelligent and distributed energy infrastructure. Greensmiths software GEMS is now in its fifth generation, and optimizes the performance of energy storage by lowering the cost and maximizing the system’s return on investment.
Greensmith Energy designs and distributes the world’s most advanced energy storage systems. From large scale storage to the BTM (behind the meter) and mikronätlösningar allows Greensmith GEMS-software effective supply of stable energy with unparalleled performance and profitability.
Facts:
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180 megawatts of energy storage
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Supplying over 60 customers globally
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Working with over 25 clients, among other things.a. power companies and independent power producers (IPP)
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Unique expertise when it comes to the integration of 16 different batteries and 14 different inverters
www.greensmithenergy.com
