By Editors of Power Engineering
Wartsila signed an agreement to acquire Greensmith Energy Management Systems Inc., an advanced energy storage and software company, for an undisclosed sum.
The acquisition will allow Wartsila to expand its footprint in the energy storage market and help the company integrate energy storage systems into various types of power generation. Wartsila, traditionally a maker of gas turbines, recently announced its entry into energy storage.
“We are thrilled to be joining the Wartsila family of companies,” said John Jung, CEO of Greensmith. “The combination of Greensmith’s position and capability in energy storage technology with Wartsila’s global leadership in integrated energy solutions, with over 63 GW of installed power plant capacity across 176 countries – will bring both market and technology synergies to both organizations.”
Greensmith was founded in 2008 in Herndon, Virginia, and installed nearly a third of all new U.S. energy storage capacity in 2016.
The Greensmith energy management system, GEMS5, is used in over 50 systems and enables utilities, EPCs and IPPs to maximize the life and performance of energy storage systems as well as integrate with a wide range of generation assets.