IOT NEWS

Industrial IoT News

Industrial IoT Home

Schneider Electric Acquires Stake in AutoGrid

By Ken Briodagh
June 03, 2019

In a recent release, Schneider Electric, a company for digital transformation of energy management and automation, announced an investment in AutoGrid, provider of flexibility management software for the energy industry. The investment makes Schneider Electric a major shareholder in the company and is reportedly designed to establish a co-innovation partnership focused on driving new AI and machine learning solutions for the utilities and commercial and industrial companies.

Schneider Electric said it will use AutoGrid’s Energy Internet and Flex platforms to add artificial intelligence-driven solutions for distributed energy projects. AutoGrid’s solution is designed to allow utilities and distributed energy resources like microgrids to connect, allowing commercial and industrial clients to monetize their renewable energy assets.

“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,” said Heriberto Diarte, Head of External Innovation & Ventures, Schneider Electric.

The investment is led by Schneider Electric Ventures, part of Schneider Electric’s newly formed Innovation at the Edge Program. Innovation at the Edge is focused on incubating, investing, and partnering with start-ups and other innovative companies outside of Schneider Electric’s core business to nurture ideas that will achieve a sustainable energy future.

“We’re at an inflection point in the energy industry. We’ve seen the promise of clean technologies and need focused partnerships, investment and innovation to drive the promise forward,” said Amit Narayan, Founder and CEO, AutoGrid. “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.”




Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

Honeywell Unveils New Engineering Solution for Industrial Control Systems

By: Ken Briodagh    6/10/2019

In a recent announcement, Honeywell unveiled its Experion PKS Highly Integrated Virtual Environment (HIVE), a new approach to engineering and maintain…

Read More

Longview IoT Adds New Products to Their IoT Solution

By: Chrissie Cluney    6/10/2019

Longview IoT, a Carnegie Technologies company, has added significant additions to its current comprehensive IoT solution.

Read More

Triax Technologies Launches Access Control, Advances Jobsite Visibility, Safety, Control

By: Ken Briodagh    6/10/2019

Triax Technologies recently announced that it has added new access control capabilities to its Spot-r platform, with the goal of providing advanced pe…

Read More

An Executive's Guide to Enterprise Digital Transformation with IoT

By: Special Guest    6/10/2019

IoT implementation is clearly growing, with more and more businesses seeking new solutions; however it can at first be a challenge to grasp the benefi…

Read More

Schneider Electric Acquires Stake in AutoGrid

By: Ken Briodagh    6/3/2019

Autogrid will help Schneider Electric reinforce its position in edge control software and analytics for microgrids and distributed energy resources

Read More