The acquisition is expected to close in the next several weeks. Upon completion, Smarter Grid Solutions will maintain operations in Glasgow while reporting to Mitsubishi Electric Corporation’s subsidiary, Mitsubishi Electric Power Products.
SGS is a leading global provider of distributed energy recourses (DER) management software for power distribution utilities and operators.
Commenting on the acquisition, Smarter Grid Solutions CEO Brent Marshall said: “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 decarbonize their operations.”
Brian Heery, President and CEO of Mitsubishi Electric Power Products added: “We are very excited to bring SGS into Mitsubishi Electric. They are committed to the mission of decarbonizing electric power production and have spent the last decade developing world-class products and processes.
“We look forward to marrying their products with our suite of grid control products to help our customers respond to changes and still get the best performance from their electric grids.”
Since spinning out of the University of Strathclyde, the company has expanded significantly, opening offices in both Scotland the United States.
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With global electric grid operators encountering an increasingly complex mix of new decentralized power generation and clean energy resources, the Glasgow firm offers highly flexible, scalable controls solutions.
According to SGS, the company’s platform allows users to integrate DER for capacity management, flexible interconnection, virtual power plants, microgrids, fleet energy asset operations and energy as a service.
Noriyuki Takazawa, Group President of Energy and Industrial Systems Group at Mitsubishi Electric Corporation, said: “SGS offers innovative solutions that have helped power utilities in Europe and North America install, manage and optimize renewable energy resources, and we look forward to bringing that DER management core competency to new markets around the globe.
“The SGS solutions align with the Mitsubishi Electric Environmental Sustainability Vision to realize a decarbonized society by the year 2050 through reduced greenhouse gas emissions.”