GE Digital Will Acquire Opus One Solutions to Advance the Energy Transition

Rhea-AI Summary

GE Digital has announced its acquisition of Opus One Solutions Energy Corporation, enhancing its ability to optimize energy planning and market management for electric utilities. This merger combines GE's century of innovation with Opus One's advanced GridOS® technology, aimed at facilitating the integration of renewable energy and Distributed Energy Resources (DERs) across the grid. The transaction is set to close within 30 days, allowing utilities to better manage and trade renewables, thereby supporting a sustainable energy future.

Positive

• Acquisition enhances GE's offerings in renewable energy and grid optimization.
• Combined technology portfolio will enable utilities to better integrate renewables and DERs.
• Opus One's GridOS® platform provides advanced capabilities for energy management and planning.

Negative

• None.

• Combined technology portfolio to enable broad, rapid adoption of renewables and Distributed Energy Resources (DERs) at all points on the grid
• Creates interoperable portfolio that will help utilities forecast, manage, optimize, and trade renewables coming onto the electric grid
• Merges a century of continuous GE innovation with a talented team of Opus One engineers and leaders dedicated to grid innovation

SAN RAMON, Calif.--(BUSINESS WIRE)-- GE Digital (NYSE:GE) has entered into an agreement to acquire Opus One Solutions Energy Corporation (“Opus One”), a software company that helps electric utilities optimize energy planning, operations, and market management. Opus One’s renewable energy planning capabilities combined with GE Digital’s network management and optimization portfolio will help utilities make decisions about how to integrate renewables and Distributed Energy Resources (DERs) at scale across the electric grid. Transmission, Distribution, and Market Operators will benefit from the combined software solutions, providing the ability to plan, onboard, manage, optimize, and trade renewables and DERs to enable a modern grid that is reliable, sustainable, and affordable for all. The terms of the deal were not disclosed.

“Electric utilities around the world face new obstacles with the rapid growth of renewables and DERs,” said Jim Walsh, General Manager of GE Digital’s Grid Software business. “With increased demand for renewable energy and electric vehicles in every region, challenges for grid and market operators are more acute every day.”

Ontario, Canada-based Opus One Solutions Energy Corporation is an innovator in software solutions with its advanced model-based software platform – GridOS® -- that enables the digital utility. Through multi-year collaborations, GE Digital and Opus One have supported customers transitioning to an intelligent and sustainable energy network with an integrated software portfolio that improves DER scheduling, dispatch, switching, and operations planning. The result is an end-to-end solution for utilities to deliver a resilient and sustainable grid.

“GE’s century of continuous grid innovation combined with Opus One’s energy-focused team will bring together the brightest minds to build the new energy ecosystem with our customers,” Walsh said. “This acquisition reinforces GE Digital’s commitment to helping our customers transition to a sustainable grid.”

“We’ve heard clearly from our utility partners that they need an integrated end-to-end platform to plan, operate, and transact with DERs on their grids. We look forward to becoming an integral part of GE Digital, combining our complementary strengths in best-in-class software solutions,” said Joshua Wong, President & CEO of Opus One. “Our commitment is to empower grid operators with the best strategies and technologies, as they solve some of the world’s toughest challenges and greatest opportunities around distributed energy. It’s an exciting time in our mission to enable the energy transition and the grid of the future.”

The transaction is expected to close within 30 days.

About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.

About Opus One
Opus One Solutions Energy Corporation is a software and solutions company with the vision of a digitalized, decentralized and decarbonized planet. Its intelligent energy network analysis platform, GridOS®, optimizes complex power flows to deliver operational time-frame energy management and integrated planning to distribution utilities and other managers of distributed energy resources. GridOS is modular, scalable, and integrates seamlessly with existing data systems to unlock greater potential for distributed energy resources, including renewable generation, energy storage, and responsive demand.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211221005380/en/

Media contact:

Ellie Holman

GE Digital

ellie.holman@ge.com

GE Media Contact

Mary Kate Mullaney

202.304.6514

marykate.nevin@ge.com

Source: GE Digital

FAQ

What is the purpose of GE's acquisition of Opus One?

The acquisition aims to enhance GE Digital's capabilities in optimizing energy planning and operations for electric utilities.

What technology will GE gain from acquiring Opus One?

GE will gain Opus One's GridOS® platform, which optimizes energy management and planning for utilities.

When is the GE and Opus One acquisition expected to close?

The transaction is expected to close within 30 days.

How will this acquisition impact renewable energy integration?

The merger will help utilities better plan and manage the integration of renewable energy and Distributed Energy Resources (DERs) on the grid.

What market benefits does the acquisition provide GE?

The acquisition will strengthen GE's position in the energy market by expanding its software solutions for managing and trading renewables.