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Brookfield and PEP-backed Intellihub acquires GreenSync

Intellihub Group has acquired GreenSync, a Melbourne, Australia-based energy technology company.

Intellihub Group has acquired GreenSync, a Melbourne, Australia-based energy technology company. No financial terms were disclosed. Intellihub, a smart metering and data intelligence provider operating in Australia and New Zealand, last year secured an investment from Brookfield Asset Management. The company is also backed by Pacific Equity Partners.

PRESS RELEASE

Australian and New Zealand smart metering and energy data business the Intellihub Group has today announced that it had acquired leading energy technology company GreenSync, a move that will unlock gigawatts of consumer led renewable energy generation and demand side control.

The recently completed transaction brings together Intellihub’s advanced smart metering platform with GreenSync’s cloud based DER interoperability software known as deX, which stands for Decentralised Energy Exchange.

DeX is a digital platform that enables DER registration, near real-time visibility and the control and data management required for Virtual Power Plant (VPP) participation.

It is already being used in the majority of newly connected solar homes in South Australia, helping them comply with emergency backstop provisions under the State Government’s Smarter Homes program.

It was also recently selected by Western Australian based energy retailer Synergy to deliver a universal solution for emergency solar management across the state’s South West Interconnected System.

Intellihub CEO Wes Ballantine said the acquisition was strategically important as the energy sector grapples with the rapid increase of household renewable energy systems.

“There’s about one gigawatt of renewable energy generation capacity sitting behind Intellihub’s smart meters,” Mr Ballantine said.

“That’s expected to grow to three gigawatts over the next few years. There’s also a growing level of dispatchable resources like pool pumps, hot water systems and Electric Vehicles.

“Together this is a large source of flexible and controllable generation and demand side resources – but their value is not being realised.

“The deX platform is perfectly geared to partner with the edge computing capability in our new smart meters to access this flexible generation via VPPs.

“Together they unlock value for retailers and consumers and help to stabilize the grid and absorb more renewables.”

GreenSync CEO Bruce Thompson said 95 percent of major global solar and storage inverter Original Equipment Manufacturers (OEMs) were now using the deX platform.

“The deX platform is a proven solution in the global storage and solar invertor OEM market. It’s now playing a crucial role for new solar households to meet grid connection requirements and access VPP services,” Mr Thompson said.

“Intellihub leads the market in smart metering services with industry leading meter technology and communications capabilities.

“Combined with deX, we bring together the most cost-effective, smart, scalable solutions for electricity retailers, network providers and equipment manufacturers.”

Intellihub is Australia and New Zealand’s largest and fastest growing smart metering and data intelligence provider. It has more than 1.2 million smart meters under management and by the end of 2022, it expects its smart meter installation rates will double to 2,000 meters a day.

It’s deploying new smart meters with high speed communications links and wave form capture. It includes edge computing platforms that make the meter DER ready, with multi-radio connectivity and IOT device management.

It provides connectivity pathways for third party devices via the cloud or directly through the meter.

GreenSync has grown to become a leading global energy tech company, providing digital automation and control solutions now being deployed across Australia, New Zealand, the UK and Japan.

Over the past 10 years GreenSync has received investment support from Australia’s Clean Energy Finance Corporation, and more recently its deX platform has been supported by the Australian Renewable Energy Agency.

GreenSync will become part of Intellihub’s new technology development arm known as CrescoNet led by experienced energy and smart grid engineer Adrian Clark.