Smarter Grid Solutions acquired by Mitsubishi
SGS co-founders: Co-Founders Alan Gooding and Graham Ault
Glasgow energy services company Smarter Grid Solutions (SGS) has been acquired for an undisclosed sum by Pennsylvania-based Mitsubishi Electric Power Products.
MEPP is a subsidiary of Mitsubishi Electric Corporation. the global manufacturer of electrical and electronic equipment.
SGS, which is a spin-out from Strathclyde University and also has offices in New York, is a global provider of distributed energy resources (DER) management software for power distribution utilities.
Brent Marshall, CEO of SGS: “We are thrilled to join Mitsubishi Electric and expand the reach of our energy management enterprise software to DER customers around the globe and – in turn – assist those customers to better manage DER assets as they strive to decarbonise their operations.
Brian Heery, president and CEO of Mitsubishi Electric Power Products, said SGS is committed to the mission of decarbonising electric power production and “has spent the last decade developing world-class products and processes.”
The acquisition is expected to close in the third quarter. SGS will maintain operations in Glasgow, though nothing was said about its New York offices.