The burgeoning global smart grid industry is beginning to consolidate as governments around the world look to use their energy resources more efficiency and limit carbon emissions without sacrificing electric reliability.
Siemens announced on Monday that it would acquire its long-time strategic smart grid partner, California-based eMeter, for an undisclosed sum, with the deal set to take effect mid-to-late December. eMeter specializes in smart meter data management software and is most famous for its EnergyIP platform, which can provide, readout and manage data produced by smart meters throughout a power grid.
“Ever-increasing demand for more efficient power supply networks for cities and utilities make this acquisition even more important,” said Jan Mrosik, CEO of Siemens Infrastructure and Cities Sector’s Smart Grid Division.
Siemens has been growing its smart grid business in recent years and this October it pooled its various efforts into the Smart Grid Division of its new Infrastructure & Cities Sector. In June, Siemens invested an undisclosed amount of over $25 million in Tendril, a residential smart meter technology company. Tendril told Breaking Energy at the time that Siemens would be helping Tendril automate its data for mass deployment of residential smart meters.
Siemens has also been handling $12 million worth of smart meter contracts for the soon-to-be new World Trade Center and is outfitting what will be New York City’s tallest skyscraper with two-way electric communication devices.
Both the Siemens Infrastructure & Cities Sector and the Siemens Smart Grid Division are based out of Germany and will help the company compete in the nascent global market. eMeter executives said in the acquisition statement that they hoped to be joining along for the ride to “further penetration into the smart grid market,” according to CEO and President of eMeter, Gary Bloom.
Photo Caption: Photo dated July 13, 2006 showing power cables in Germany. A sudden weekend surge in demand for electricity in Germany on November 4, 2006, due to freezing weather plunged much of Europe into blackness as France and other power exporting countries found their grids overtapped.