This Research Note looks at what’s behind Schneider Electric’s latest move to divest AutoGrid to Uplight, the Boulder, Colorado-based utility software company. We review the history and assess the current state of play behind the transaction. In December 2023, Uplight announced an agreement to acquire AutoGrid, a Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) provider, based in Redwood City, California. On the surface, this divestment by Schneider Electric appeared to be a strategic pivot, after many years of investment in AutoGrid, particularly as this deal was announced only 19 months on from Schneider Electric purchasing the company. AutoGrid Acquired by Schneider Electric in 2022 A series of partnerships and investments by Schneider Electric over the last 10 years culminated in a May 2022 agreement to acquire AutoGrid: Schneider had been working with AutoGrid since a 2013 partnership to optimize its Wiser brand of smart thermostats and home energy management devices, using […]
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