Schneider Electric has bought a stake in a company that provides flexible energy management in the industry.
It announced an investment in AutoGrid to establish an innovation partnership focused on driving new artificial intelligence (AI) and machine learning solutions for distributed energy resources – a market expected to be worth more than $50 billion (£39.6bn) over the next few years – for utilities as well as industrial and commercial (I&C) companies.
Schneider Electric will use the company’s Energy Internet and Flex platforms to add AI-driven solutions for its customers, accelerating new capabilities for its microgrid and behind the meter solutions.
Amit Narayan, Founder and CEO of AutoGrid said: “We’re at an inflection point in the energy industry. We’ve seen the promise of clean technologies and need focused partnerships, investment and innovation to drive the promise forward.
“A closer relationship with Schneider Electric as an investor, partner and board member creates a path toward our common goal of creating a more sustainable energy future.”
Technologies for energy users that can help them reduce costs and emissions, including the first AI energy manager, will be among those on display at The Energy Solutions Show (TESS) on June 5th at Millennium Point, Birmingham.
If you wish to register as a delegate for free, you can send an e-mail here.