Schneider Electric Invests In AutoGrid

Schneider Electric has recently invested in AutoGrid!

Schneider Electric has recently invested in AutoGrid!

Schneider Electric has recently invested in AutoGrid, a Silicon Valley startup that provides flexibility management software for the energy industry. We will be putting AutoGrid’s data analytics and machine learning to use by managing distributed energy resources and microgrids for customers. Continue reading to learn more about AutoGrid and our co-innovation partnership.

AutoGrid

The majority of AutoGrid’s utility customers have focused on demand response and customer demand-side management applications optimization, but more and more customers are using the company’s Flex application for integrated flexibility management of DERs. In fact, there are a few projects using Flex that are currently underway in North America, Europe, and Asia. The projects range from industrial cooling and heating systems, behind-the-meter batteries, and optimization of microgrids. 

According to Heriberto Diarte, Head of External Innovation and Ventures at Schneider Electric, the plan is to incorporate all of AutoGrid’s capabilities into our microgrid business. AutoGrid’s data and insight into behind-the-meter assets will be an essential complement to our company’s existing microgrid design and operational advisory software. Diarte also noted that Schneider Electric wants to offer value for the things that happen beyond the microgrid through integrating multiple sites into virtual power plants.

Schneider Electric has been working with AutoGrid for a few years now; we partnered with the company in 2013 to optimize a brand of smart thermostats and home energy management devices using their demand response optimization and management system. We have recently begun to integrate our software platforms, but are still at the very beginning stages of the process. 

Co-Innovation Partnership

The investment, led by Schneider Electric Ventures, makes our company a major shareholder in AutoGrid. Schneider Electric Ventures is part of our newly formed Innovation at the Edge Program, which is focused on investing and partnering with innovative companies that focus on achieving a sustainable energy future. We are proud to be launching a co-innovation partnership with AutoGrid, which will focus on using their Energy internet and Flex platforms to add AI-driven solutions for distributed energy projects. 

Heriberto Diarte said in an interview that “The combination of AutoGrid’s software-driven strategy, with Schneider Electric’s global footprint and expertise in a variety of end-user segments, is a win-win for both companies, and both companies can co-innovate throughout the energy value chain.” 

Amit Narayan, Founder and CEO of AutoGrid, is also excited about the partnership: “A closer relationship with Schneider Electric as an investor, partner, and board member creates a path toward our common goal of creating a more sustainable energy future,” he says.

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This entry was posted on Monday, July 8th, 2019 at 11:08 am. Both comments and pings are currently closed.

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