The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc. (Greensmith). The acquisition of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator. Ownership of the company will be transferred to Wärtsilä after closing of the transaction which is expected to occur no later than July 2017.
Founded in 2008, Greensmith is a recognized leader in energy storage technology and systems integration, responsible for deploying about a third of total US energy storage capacity in 2016.
Greensmith has developed a world-leading energy management software system called GEMS. 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. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4.