Wärtsilä acquires Greensmith Energy Management Systems
19 May, 2017
Multinational technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc, a US-based leader in intelligent energy storage technology and solutions, for an undisclosed amount.
The acquisition of Greensmith will expand Wärtsilä’s footprint in the energy storage market and position it as a leading global energy systems integrator.
Greensmith deployed approximately a third of total US energy storage capacity in 2016.
Its world-leading energy management software system GEMS allows companies and power providers to manage and monitor individual systems or an entire fleet of systems, identifying and diagnosing equipment issues in real time.
Acquisitions and mergers are playing an ever-bigger part in shaping the energy storage sector. In 2016 Total acquired industrial battery maker Saft, while ENGIE acquired a majority stake in Green Charge Networks, an industry-leading battery storage company.