Renewable energy software solutions provider AlsoEnergy will be merging with Locus Energy, a solar monitoring and data analytics provider that offers solutions in the residential, commercial, and utility sectors.
Image: The merger will establish AlsoEnergy as a leader in PV market with 25GW of power monitored. Photo: Courtesy of adamr/FreeDigitalPhotos.net.
The transaction enhances AlsoEnergy’s ability to deliver end-to-end solutions across all geographies and market segments and affirms AlsoEnergy as a global leader in renewable energy asset monitoring and control.
AlsoEnergy CEO Bob Schaefer said: “Locus Energy is a strong complement to our solutions portfolio. Throughout 2018, we have made strategic investments to consolidate best-of-breed technologies that can be integrated through our unified back-end platform to create an end-to-end industry leading portfolio.
“The consolidation of these historically disparate systems creates strong value for our customers, including comprehensive portfolio aggregation across all modes of energy generation as well as unified reporting and metrics across all platforms.”
Under the terms of the agreement, AlsoEnergy will continue to lead the business, with Locus Energy’s prior owner, Genscape, retaining a minority equity stake in the combined entity.
Locus Energy CEO Michael Herzig said: “We are excited to join the AlsoEnergy family. Together, the combined business will be able to better meet our customers’ evolving needs and enable greater support throughout the entire project lifecycle, with support and engineering resources deployed around the world.”
Schaefer continued saying: “The addition of Locus strengthens our leadership position as the most innovative and complete solution provider in the market.
“The combined portfolio will give our customers the ability to further streamline operations and achieve the highest levels of performance, efficiency and profitability, using a single technology platform while retaining the best attributes and stakeholder views from each system.”
In addition, the integration of Locus Energy’s customer service and engineering support center will strengthen AlsoEnergy’s global service organization and will enable the delivery of world-class around-the-clock support, seven days a week.
Source: Company Press Release