WARRENDALE, Pa.--(BUSINESS WIRE)--Mitsubishi Electric Power Products, Inc. (MEPPI) and Mitsubishi Electric Corporation (MELCO) today announced that the deal to acquire U.K.‑based Smarter Grid Solutions (SGS) has closed. SGS is a leading developer of software management solutions for the distributed energy resources (DER) market. Financial terms of the transaction were not disclosed.
Globally, the power electric market has been trending toward decentralized generation sources, including DER and SGS’ enterprise software solutions are used to manage power grids and market participation in energy systems with high penetrations of distributed, clean and flexible energy assets.
SGS will report into Mitsubishi Electric Corporation’s North American power systems subsidiary, Mitsubishi Electric Power Products, Inc., and will maintain operations in Glasgow, Scotland.
About Smarter Grid Solutions
Smarter Grid Solutions (SGS) is a U.K.-based energy management enterprise software company that operates internationally with offices in Glasgow, Scotland, and New York City. The company’s products are used to manage power grids and market participation in energy systems with high volumes of distributed, clean and flexible energy assets. SGS’ customers use its DER management system (DERMS) products to integrate DER into markets and grids to deliver grid capacity management, flexible interconnection, virtual power plant, microgrid, fleet energy asset operations, energy as a service (EaaS) and local energy applications. For more information, visit www.smartergridsolutions.com.
About Mitsubishi Electric Power Products, Inc.
Headquartered in Warrendale, Pennsylvania, Mitsubishi Electric Power Products, Inc. (MEPPI) is a U.S. affiliate of Mitsubishi Electric Corporation serving the North American power systems, data center, rail transportation, and large visual display markets. MEPPI products include gas circuit breakers, vacuum circuit breakers, power transformers, gas-insulated substations, FACTS, high voltage DC systems, battery energy storage systems, electric generators, nuclear power plant control systems, uninterruptible power supplies, rail transportation equipment, rail signaling systems, and high-definition LED displays. Information on MEPPI’s complete line of products and services can be found at www.MEPPI.com.
About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com *U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021
