Yokogawa Acquires PXiSE, a Developer of High-speed Control Software for Grids and Renewable Energy Assets

Rhea-AI Summary

Yokogawa Electric Corporation has acquired PXiSE Energy Solutions LLC, a San Diego-based provider of software that enhances renewable energy management and grid resilience. Founded in 2016, PXiSE developed Active Control Technology, which optimizes energy distribution and integrates distributed energy resources. The acquisition will bolster Yokogawa's capabilities in monitoring and controlling power generation, enabling clients to meet clean energy goals. This strategic move positions Yokogawa to support a more diversified energy supply chain and enhance operational efficiency in renewable energy.

Positive

• Acquisition of PXiSE enhances Yokogawa's capabilities in renewable energy management.
• Active Control Technology (ACT) improves energy distribution and integrates distributed energy resources.
• Strategic alignment enables Yokogawa to help clients achieve clean energy targets.
• Expansion into power transmission and distribution sectors supports revenue growth.

Negative

• None.

– Solutions enable optimized energy distribution, electrical grid resilience, and higher return on assets –

TOKYO--(BUSINESS WIRE)-- Yokogawa Electric Corporation (TOKYO:6841) announces it has acquired all of the outstanding shares of PXiSE Energy Solutions LLC., a San Diego-based developer of software that enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real time. Through this acquisition, Yokogawa will build on its capabilities in the monitoring and control of power generation facilities and assist customers in the power transmission and distribution sectors to meet their clean energy goals.

Integration of DERs and grid components through automated grid control (Graphic: Yokogawa Electric Corporation)

Renewable energy sources such as wind and solar PV are crucial for reducing greenhouse gas emissions, however the power generated is unpredictable as they are affected by the weather conditions. It also requires a much larger number of units distributed over a wider area to generate the same amount of power as a conventional power station. In addition, energy consumers themselves are becoming energy resources as they install solar power and battery storage systems. These factors are altering the very nature of the grid that utilities manage.

PXiSE (pronounced “pice”) was started in 2016 based on the idea that real-time data from the grid combined with artificial intelligence could be leveraged to help utilities manage the rapidly increasing number of distributed energy resources that are coming online every year. Since proving this concept, the company has delivered more than one gigawatt of projects in the US, Asia, and Oceania, helping clients achieve both their grid management and emission goals. Prior to the acquisition, the company was a subsidiary of Sempra, a US-based energy infrastructure company, and was partially owned by a subsidiary of Mitsui & Co., Ltd.

PXiSE’s Active Control Technology (ACT) is an automated grid control software platform that consists of hybrid power plant controls, microgrid controls, and a distributed energy resource management system, achieving holistic system optimization by enabling the integration of groups of DERs alongside traditional grid components. It can also maximize the efficiency and production of utility-scale renewable energy assets. The patented ACT delivers higher reliability than conventional power system monitoring and control systems due to its high-speed measurement and control, which enable seamless energy source transitions. Integration of external data sets and predictive forecasting support cost and profit optimization.

In the power sector, Yokogawa has decades of experience in delivering and optimizing control systems for conventional power plants around the world, and Yokogawa’s controllers and industrial IoT software platforms support renewable power generation facilities as well as energy management systems for buildings, factories, and communities. The addition of PXiSE to the Yokogawa Group will enable the company to help global customers involved in power transmission and distribution to better manage the increasingly diversified energy supply chain, maximize the deployment of renewable energy assets, and ultimately deliver affordable, reliable, and sustainable forms of energy.

“We’re thrilled to be joining Yokogawa Electric Corporation, whose deep expertise in power plant and industrial control systems is a natural complement to our innovative grid controls technology. Combined, Yokogawa and PXiSE expertise provides tremendous value creation for customers, the energy industry, and society,” said Patrick Lee, CEO and cofounder of PXiSE Energy Solutions. “Our market growth will be greatly strengthened thanks to Yokogawa’s global engineering, sales, service, and support network, and Yokogawa will be able to accelerate their expansion into the power delivery and distribution end-use sectors. Together, we look forward to becoming worldwide renewable energy leaders, enabling the clean energy transition.”

“Yokogawa believes that the decarbonization trend in the energy sector is one of the biggest challenges society has ever faced,” said Koji Nakaoka, vice president and head of the Energy & Sustainability Business Headquarters and the Global Sales Headquarters at Yokogawa Electric. “PXiSE’s highly innovative technologies address many of the issues related to the optimal production and integration of renewable and other energy sources, so we are extremely excited to welcome them to the Yokogawa Group. We look forward to being able to make this outstanding technology available to our customers around the world as soon as possible.”

Outline of PXiSE Energy Solutions LLC.

Location: San Diego, California, USA
Founded: December 2016
Main business: Development and implementation of software solutions for a renewable and distributed electric grid

About Yokogawa

Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations.
Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,500 employees in a global network of 119 companies spanning 61 countries.
For more information, visit www.yokogawa.com

The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005473/en/

Media Contact

PR Section, Integrated Communications Center

Yokogawa Electric Corporation

Email: Yokogawa-pr@cs.jp.yokogawa.com

Source: Yokogawa Electric Corporation

FAQ

What is the significance of Yokogawa's acquisition of PXiSE Energy Solutions?

Yokogawa's acquisition of PXiSE enhances its capabilities in managing renewable energy, optimizing grid resilience, and supporting clean energy goals.

What technology does PXiSE bring to Yokogawa?

PXiSE brings its Active Control Technology, which optimizes the integration of distributed energy resources and enhances energy management systems.

When was PXiSE Energy Solutions founded?

PXiSE Energy Solutions was founded in December 2016.

How will this acquisition affect Yokogawa's market position?

This acquisition strengthens Yokogawa's position in the renewable energy sector and enhances its ability to serve customers in power transmission and distribution.

What are the expected benefits of the acquisition for customers?

Customers can expect improved energy management, reliability, and efficiency in integrating renewable energy sources.