11 December 2015 2015 01:50 AM GMT

Greensmith Bags Investment From E.ON for Energy Storage

E.ON has made an undisclosed investment Greensmith,, a US-based start-up company providing energy storage software and integration services.

E.ON’s investment brings Greensmith’s total Series C round to US$18.3 million, including a previous US$5 million strategic investment from American Electric Power

Greensmith plans to use the financing to expand commercial and technology delivery operations to leverage pipeline acceleration and to advance its GEMS energy storage software platform. The financing, along with the new relationship with E.ON, will also help Greensmith exploit a rapidly growing European energy storage market, the US company said.

Greensmith’s GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing the system’s return on investment through life. “The energy industry is undergoing a fundamental transformation—E.ON is committed to empowering its customers and promoting decentralized energy solutions while expanding our power grids and making them smarter,” said Susana Quintana-Plaza, Senior Vice President Technology & Innovation E.ON SE.

“As such, we needed a partner that could deliver superior results. Greensmith’s innovative software and extensive experience in both battery and PCS integration and control will enable us to extend our energy storage activities and to provide better solutions to our customers. We are pleased about our partnership with Greensmith and look forward to working together.”

August 16th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

August 14th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

August 9th 2019
Arsenal Unveil Battery Storage System: First Of Its Kind At A UK Football Club

Arsenal Football Club has unveiled a battery storage system (BSS) to store enough energy to run the 60,000 seater Emirates Stadium from kick-off to full time. It follows a unique collaboration with Pivot Power to install a 2MW/2.5MWh lithium ion BSS, with funds managed by Downing LLP. The project, the first of its kind in the UK, will also save club money as it works to support low-carbon plans. The BSS allows Arsenal to avoid peak power prices, buying electricity when it is cheap and storing it for use when prices are high. Typically, energy can cost three times more at peak times than overnight. The installation maintains Arsenal as the leader in sustainability in sport following its commitment to clean energy with Octopus Energy in 2016.

August 12th 2019
Battery Boom: Wind And Solar Can Generate Half Of Worldwide Electricity By 2050

Coal is to shrink to just 11% of global electricity generation by mid-century, from 38% now, as costs shift heavily in favour of wind, solar and batteries. Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 due to reductions in cost. “Cheap battery storage means that it becomes increasingly possible to finesse the delivery of electricity from wind and solar so that these technologies can help meet demand even when the wind isn’t blowing and the sun isn’t shining. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear.”

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