Schneider Electric, Paris, France, last week announced an investment in AutoGrid, provider of software for the energy industry. Among AutoGrid’s offerings are platforms for adding artificial intelligence capabilities for distributed energy projects.
Schneider Electric will leverage AutoGrid’s Energy Internet and Flex platforms to accelerate new capabilities for Schneider Electric’s microgrid and behind the meter solutions, as well as advance its ability to better serve the utility segment as the grid becomes more distributed.
The investment makes Schneider Electric a major shareholder in the company and establishes a co-innovation partnership focused on driving new AI and machine learning solutions for the utilities and commercial and industrial companies, said a Schneider release.
AutoGrid solutions allow utilities and distributed energy resources like microgrids to connect, allowing commercial and industrial clients to monetize their renewable energy assets. This strategic investment reinforces the company’s commitment to help clients adopt new technologies like AI and machine learning to transition to a new energy future, the release said.
“The combination of AutoGrid’s software driven strategy, with Schneider Electric’s global footprint and expertise in a variety of end-user segments is a win-win for both companies, and both companies can co-innovate throughout the energy value chain,” said Heriberto Diarte, Schneider Electric head of External Innovation & Ventures.
The investment is led by Schneider Electric Ventures, part of Schneider Electric’s newly formed Innovation at the Edge Program for incubating, investing, and partnering with start-ups and other innovative companies outside its core business to nurture ideas that will achieve a sustainable energy future. Schneider Electric Ventures has close to 40 strategic active alliances with startups and incubation projects.
