Articles

This Research Note examines the recently announced acquisition of UtilityInnovation Group (UIG) by Vertiv.  We explore the transaction details, the target business profile and the strategic rationale of the acquisition before commenting on the M&A history of Vertiv and comparing their microgrid strategy with the group’s data center infrastructure peers. Transaction Details On 2nd September […]

This Research Note examines the latest acquisitions in liquid cooling technology by the major HVAC and data center infrastructure players over the last 8 months.  This updates our November 2025 Research Note on Liquid Cooling Acquisitions: 4 Major Deals Reshape Data Center Market in 2025 and our February 2026 Note on Data Center M&A Surge: […]

This Research Note examines SCorp-io, a French scale-up providing building management systems (BMS) for medium-sized commercial buildings.  We highlight the gap in the French market for energy management in medium-sized buildings, comment on deployments and funding raised by SCorp-io, as well as competition in the European market. SCorp-io is one of 169 startups funded in […]

In this Research Note, we examine Budderfly, the US Energy Efficiency-as-a-Service (EEaaS) company focused on Small and Medium-sized Enterprises (SMEs) and franchise businesses. This analysis covers their business model, funding, majority ownership, acquisitions, partnerships, and growth since our coverage of the company in January 2024. Budderfly Profile Founded in 2007 and headquartered in Shelton, Connecticut, […]

This Research Note examines aedifion, a German HVAC optimization startup, its growth in 2025/2026, and external funding before highlighting their recent collaboration with two other DACH smart building startups, Optiml and Green Fusion. This article updates our previous coverage of aedifion in April 2025. Aedifion Profile aedifion GmbH is a startup based in Cologne, Germany, […]

This Research Note examines Asuene, a Tokyo, Japan headquartered provider of a sustainability reporting platform, which has recently embarked on an international scaling strategy through acquisitions and regional hubs. Asuene Profile Founded in 2019 in Tokyo, Japan, Asuene Inc. has developed a CO2 visualization, reduction, and reporting cloud platform. The startup offers enterprise software coupled […]

Position Green is a specialist Nordic provider of ESG reporting software and consulting services for businesses. A majority stake in the company was acquired by Norvestor, a Nordic private equity firm in April 2022, Position Green combines ESG business advisory services with a software suite to support corporations in advancing their sustainability agendas. The integrated […]

This Research Note examines the US Initial Public Offering (IPO) filed by ERock on 15th May 2026. Formerly known as Enchanted Rock, the Texas-based provider delivers onsite utility-grade power and microgrid solutions for commercial and industrial businesses, while supporting long-term grid development. ERock Profile Founded as Enchanted Rock in 2006, ERock is a vertically integrated […]