Wärtsilä to Acquire Energy Storage Company

HELSINKI, Finland -- Wärtsilä has announced plans to acquire a US-based energy storage technology and solutions company in a bid to expand its energy storage and systems footprint. The company will acquire Greensmith Energy Management Systems Inc. for an undisclosed amount. According to a release, the transaction is expected to occur by July 2017. More from Wärtsilä's release: Greensmith has developed a world-leading energy management software system called GEMS, currently offered in its fifth generation. This platform enables utilities, Engineering Procurement and Construction companies and Independent Power Producers to manage and monitor individual systems or entire fleet of systems, identifying and diagnosing equipment issues in real time, and extending system performance and longevity—therefore increasing return on investment. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4. Energy storage is expected to grow exponentially as it becomes an integral part of any energy system. With this in mind Wärtsilä aims to become a global systems integrator with full in-house capabilities specializing in solutions that offer the combination and optimisation of different forms of power generation, energy storage and demand side management. Having an integration software platform is a must and acquiring Greensmith gives Wärtsilä an industry leading platform to offer across an installed base of over 63 gigawatts of power generation around the world. “Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match,” says Javier Cavada, President at Wärtsilä Energy Solutions. “We are very excited to become a key part of Wärtsilä, a global leader in advanced energy solutions,” said John Jung, CEO of Greensmith. “The combination of Greensmith’s proven technologies and Wärtsilä’s global footprint in advanced energy and power plants – will fuel significant growth in both integration and solutions market.”