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Energy: E.ON invests in US start-up Greensmith

GREENSMITHE.ON has invested in Greensmith, bringing the U.S.-based start-up’s total Series C round to $18.3 million. It is a further step for E.ON to expand its venture-capital activities.

Greensmith is one of the largest providers of energy storage software and integration services. Its mission is to make energy storage a fundamental part of a cleaner, more intelligent and distributed energy infrastructure. Now in its fifth generation, Greensmith‘s GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing the system’s return on investment through life.

«The energy industry is undergoing a fundamental transformation. E.ON is committed to empowering its customers and promoting decentralized energy solutions while expanding our power grids and making them smarter – said Susana Quintana- Plaza, Senior Vice President Technology & Innovation E.ON SE. – As such, we needed a partner that could deliver superior results. Greensmith‘s innovative software and extensive experience in both battery and PCS integration and control will enable us to extend our energy storage activities and to provide better solutions to our customers. We are pleased about our partnership with Greensmith and look forward to working together».

E.ON continues to promote innovation by making strategic co-investments in start-ups whose intelligent solutions are helping to shape tomorrow’s energy market. To date, E.ON has taken stakes in more than a dozen start-ups in the United States, Europe, and Australia. Its portfolio is diverse. It has invested in companies ranging from Sungevity (which develops innovative software for planning solar rooftop systems) to Enervee who provides a dynamic platform on which consumers can make more energyefficient choices when it comes to household appliances, devices and electronics purchases.

The start-up AutoGrid is dedicated to bring the power of Big Data, predictive analytics and Internet scale computational techniques to the production and consumption of electricity. In Germany E.ON has invested in Thermondo, a Berlinbased start-up whose online platform enables customers to quickly compare a variety of heating units.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forwardlooking statements or to conform them to future events or developments.

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