EnergyHub Acquires Packetized Energy to Extend High-Value Grid Service Capabilities

Rhea-AI Summary

EnergyHub announced its acquisition of Packetized Energy, enhancing its Mercury DERMS with advanced load shaping and grid management capabilities. This strategic move aims to meet rising demands from utilities for innovative tools to manage distributed energy resources (DERs) and improve grid integration. Packetized Energy's Nimble platform leverages algorithms to optimize grid service value from DERs. With over 60 utilities using EnergyHub's solutions, this acquisition positions EnergyHub to better address future grid challenges and support carbon reduction goals.

Positive

• Acquisition enhances capabilities of EnergyHub's Mercury DERMS.
• Incorporation of Packetized Energy's Nimble platform improves load shaping and grid management.
• Strengthens EnergyHub's position with over 60 utilities managing extensive DERs.

Negative

• None.

EnergyHub adds Packetized Energy’s innovative advanced load shaping and grid management capabilities to EnergyHub’s Mercury DERMS and industry-leading DER ecosystem, enabling dynamic management of virtual power plants.

NEW YORK & BURLINGTON, Vt.--(BUSINESS WIRE)-- EnergyHub, the industry-leading provider of distributed energy resource (DER) management solutions (DERMS), announced today that it acquired Packetized Energy, a leading developer of software systems that enable flexible grid services from DERs and provide utilities with deep insight into grid operations. As utilities set aggressive carbon reduction goals and coordinate increasing numbers of grid-edge devices within their systems, they require the next-generation of tools to flexibly manage DERs. Adding Packetized Energy’s technology to EnergyHub’s Mercury DERMS enables EnergyHub to provide more sophisticated DER control to utilities and power markets and to offer unprecedented visibility into distribution network operations.

Packetized Energy’s Nimble® platform leverages state-of-the-art algorithms to maximize grid service value from DERs while simultaneously ensuring that customers get the energy they need, when they need it. The platform incorporates fleet-level predictive algorithms that enable load shaping in response to wholesale market signals, carbon prices, renewable availability, or distribution system needs. The Nimble platform also uses data from AMI, SCADA/EMS, micro PMUs, and network models to enable automatic DER response to rapidly changing grid conditions.

“There is a clear trend in DER management toward delivery of grid services requiring more sophisticated load shapes and improved grid integration,” said Seth Frader-Thompson, EnergyHub’s President. “EnergyHub has an unmatched reputation for helping our clients build and manage large virtual power plants, and the acquisition of Packetized Energy accelerates our roadmap in managed charging, multi-DER optimization, and integration with distribution systems. We believe this combination will allow EnergyHub’s clients to be prepared to meet the grid service challenges of tomorrow.”

EnergyHub’s Mercury DERMS platform is the most widely deployed grid-edge DERMS in the industry, with over 60 utilities and power markets that aggregate and manage hundreds of thousands of thermostats, electric vehicles, water heaters, energy storage systems, inverters, and commercial & industrial sites as virtual power plants.

Paul Hines, co-founder and CEO of Packetized Energy, joins EnergyHub as Vice President, Power Systems. “Renewables play an increasingly important role in our energy system, creating challenges for the grid,” said Hines. “Packetized Energy’s unique technology enables fleets of DERs to address these challenges by reacting in real-time to rapidly changing grid and market conditions. We’re excited to combine this technology suite with EnergyHub’s extensive DER partner ecosystem and unsurpassed ability to build and manage large fleets of DERs.”

Packetized Energy’s team of engineers, data scientists, and client success professionals have joined EnergyHub’s team and will continue to work out of offices in Burlington, Vermont.

EnergyHub is an independent subsidiary of Alarm.com (NASDAQ: ALRM), the leading platform for the intelligently connected property.

About EnergyHub

EnergyHub is the leading grid-edge DERMS provider. Utilities rely on EnergyHub’s Mercury DERMS platform to manage all distributed energy resources to serve grid and market objectives. EnergyHub works with over 60 utilities nationwide to manage more than 2,900 MW of flexible capacity. We empower utilities and their customers to create a clean, distributed energy future. For more information, visit www.energyhub.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005227/en/

Erica Schain

Aspectus Group for EnergyHub

917-940-5633

erica.schain@aspectusgroup.com

Source: EnergyHub

FAQ

What is the purpose of EnergyHub's acquisition of Packetized Energy?

The acquisition aims to enhance EnergyHub's Mercury DERMS with advanced load shaping and grid management capabilities.

What technology does Packetized Energy bring to EnergyHub?

Packetized Energy brings its Nimble platform, which uses algorithms to optimize grid service value from distributed energy resources.

How will this acquisition impact EnergyHub's operations?

The acquisition will allow EnergyHub to provide more sophisticated distributed energy resource control and improve visibility into grid operations.

What are the future projections after EnergyHub's acquisition of Packetized Energy?

The acquisition is expected to position EnergyHub to better meet future grid service challenges and support utilities' carbon reduction goals.