Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc. The acquisition 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 after closing of the transaction, which is expected to occur no later than July 2017.
Greensmith is a recognised leader in energy storage technology and systems integration, responsible for deploying about a third of total US energy storage capacity in 2016. Specialising in energy storage optimisation and integration software, the company today employs over 40 people and has delivered in excess of 180 MW 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 the monitoring of individual systems or entire fleet of systems, identifying and diagnosing equipment issues in real time, and extending system performance and longevity-therefore increasing return on investment. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4.
"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," said Javier Cavada, President at Wärtsilä Energy Solutions.
"We are very excited to become a key part of Wärtsilä, a global leader in advanced energy solutions," said John Jung, CEO of Greensmith. "The combination of Greensmith's proven technologies and Wärtsilä's global footprint in advanced energy and power plants - will fuel significant growth in both integration and solutions market."
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