Wed, 09 Oct 2024 | BUSINESS SALE
GivEnergy, an energy storage manufacturer based in Newcastle-under-Lyme, has acquired energy aggregator Orange Power in a deal that bolsters its commercial grid services.
GivEnergy, founded in 2018, engineers and manufactures a range of electronic equipment designed to manage energy use and production, including inverters, battery systems, energy management software, smart plugs to control energy use and EV chargers.
Customers, including businesses and households looking to decarbonise or save energy costs, can store energy from the grid or renewables. It provides products to a range of countries around the world from the UK to Australia, Italy, France and South Africa.
Orange Power coordinates and aggregates energy savings across nationwide battery assets when the grid is stressed. GivEnergy hopes that by integrating Orange Power’s platform it will improve its services and help commercial battery owners access new revenue opportunities and boost their decarbonisation aims.
“This acquisition aligns perfectly with our goal of cleaning up the UK’s energy landscape, particularly as it pertains to Smart Energy Devices and their role in supporting and stabilising grid infrastructure,” said Jason Howlett, Global CEO at GivEnergy. “We’re also proud to be able to incentivise energy storage uptake by boosting the ROI of battery installation and maximising value for customers. With Orange Power’s expertise in energy aggregation, we can help our customers unlock the full potential of their assets via access to the rapidly growing grid services market.”
Orange Power will operate as a standalone entity within the GivEnergy Software division. Its founder Justin Ma said the deal would allow the two groups to join forces in offering tailored grid services to the commercial sector.
“This is undoubtedly a market poised for growth, as businesses seek to increase their energy efficiency and capitalise on renewable energy investments,” he said. "Together, we can deliver substantial returns for partners while driving innovation and battery adoption in the renewable energy industry."
Find out more about how ESG is becoming an increasingly important factor in M&A strategies
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