Storage Software Expertise Attracts Covetous Looks

This article first appeared on the BNEF mobile app and the Bloomberg Terminal.

  • Oil majors, industrials and utilities investing in storage
  • Few standalone storage software providers remain

Energy storage competitive landscape

Source: Bloomberg New Energy Finance
Note: selected sample of players

On May 15, Finland-based power generation and marine propulsion company Wartsila acquired Greensmith Energy Management Systems, a California-based storage provider. Oil majors, large industrials and utilities have ramped up investments in storage companies with energy management system expertise over the last few years, positioning themselves to move in on the rapidly growing stationary storage space. Stem, Sunverge Energy, Advanced Microgrid Solutions and Younicos have also attracted significant VC/PE investment but have not yet been acquired. With fewer specialist companies to acquire, larger corporates will need to partner or develop this expertise organically.

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