CLIFTON PARK, N.Y. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--PowerGEM, LLC, a leading provider of power grid and energy market simulation software and services, today announced it has merged with Cambridge Energy Solutions (CES), a leading provider in competitive energy market modeling and pricing simulation software. This is the second M&A transaction that PowerGEM has completed in 2024 to expand its platform to support the growing demand for electricity generation and transmission across short- and long-term horizons.
Founded in 2002, CES helps customers optimize asset operations, maximize revenue, and hedge against uncertainty through its portfolio of eight software products. Its flagship product, DAYZER (Day-Ahead Locational Market Clear Prices Analyzer), is the leading simulation software for U.S. competitive electricity markets, combining proprietary algorithms with automated, high-quality and timely data ingestion to produce accurate insights.
“CES is known for its U.S. power market expertise, the speed and accuracy with which its software produces actionable insights, and its superb customer support,” said Joe DeMatteo, CEO of PowerGEM. “As the power industry is undergoing a major transformation and will play a dominant role in business and economic expansion for years to come, PowerGEM continues to make investments that help customers meet their evolving planning and operational needs to ensure grid reliability and market efficiency. Merging with CES is key to this mission, and we’re thrilled to have our teams come together.”
The PowerGEM and CES teams will operate as a single organization, with CES’s founder, Assef Zobian, Ph.D., joining the executive team as Chief Development Officer and General Manager for CES.
“Market volatility, grid congestion, and energy transition complexity are driving the need for data to ensure effective short-term power trading and risk management in addition to understanding the impacts on long-term supply and demand on planning, financing and operating assets,” explained Zobian. “CES has always been differentiated by our accurate and fast simulations due to the quality of our models, data management processes, and customer support. Merging with PowerGEM is a unique and exciting opportunity for us because they share our dedication to providing mission-critical software that supports the entire electric power ecosystem.”
Since 2000, PowerGEM has helped operate and plan a reliable grid and optimize energy market efficiency through its TARA and PROBE software suites. With the addition of Astrapé in April, SERVM became part of the PowerGEM software and services portfolio to include power generation resource adequacy and expansion planning. The CES customer base includes financial services firms, trading organizations and other competitive energy market participants that rely on robust simulations to support energy trading.
“Since investing in PowerGEM earlier this year, it has been a privilege to support the company’s continued growth journey,” said Charles Ha, Principal at TA. “PowerGEM and CES have tremendous product synergies, and we believe their combined industry expertise and complementary technologies will result in enhanced value, positioning customers for success as the power grid becomes increasingly complex. This transaction marks an exciting milestone, and we look forward to the next chapter in partnership with Assef, Asser and the CES team.”
PowerGEM was represented by Goodwin Procter LLP as legal counsel. Cameron & Mittleman and Gunderson Dettmer served as legal advisors for CES.
The terms of the transaction were not disclosed.
About PowerGEM
PowerGEM provides advanced simulation software and services to ensure power grid reliability and market efficiency. More than 250 system operators, utilities, energy infrastructure developers and consultants rely on the company’s expertise to help keep the lights on throughout North America. In 2025, PowerGEM will celebrate 25 years of bringing agile, purpose-built innovation to the power industry so reliable, renewable and affordable electricity can be generated and transmitted. More information about PowerGEM is available at www.power-gem.com.
About Cambridge Energy Solutions
Cambridge Energy Solutions (CES) develops software tools for participants in deregulated electric power markets across North America. CES helps market participants analyze electricity markets on a locational basis, forecast and value transmission congestion, and understand the fundamental drivers of short- and long-term prices. The company’s engineers and economists cater to the entire spectrum of power market participants, including traders, utilities, generation asset owners and developers, ISOs, research universities, and consulting firms. For more information about CES, visit https://www.ces-us.com.