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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

GE Digital Will Acquire Opus One Solutions to Advance the Energy Transition

December 21, 2021 GMT

SAN RAMON, Calif.--(BUSINESS WIRE)--Dec 21, 2021--

GE Digital (NYSE:GE) has entered into an agreement to acquire Opus One Solutions Energy Corporation (“Opus One”), a software company that helps electric utilities optimize energy planning, operations, and market management. Opus One’s renewable energy planning capabilities combined with GE Digital’s network management and optimization portfolio will help utilities make decisions about how to integrate renewables and Distributed Energy Resources (DERs) at scale across the electric grid. Transmission, Distribution, and Market Operators will benefit from the combined software solutions, providing the ability to plan, onboard, manage, optimize, and trade renewables and DERs to enable a modern grid that is reliable, sustainable, and affordable for all. The terms of the deal were not disclosed.

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“Electric utilities around the world face new obstacles with the rapid growth of renewables and DERs,” said Jim Walsh, General Manager of GE Digital’s Grid Software business. “With increased demand for renewable energy and electric vehicles in every region, challenges for grid and market operators are more acute every day.”

Ontario, Canada-based Opus One Solutions Energy Corporation is an innovator in software solutions with its advanced model-based software platform – GridOS® -- that enables the digital utility. Through multi-year collaborations, GE Digital and Opus One have supported customers transitioning to an intelligent and sustainable energy network with an integrated software portfolio that improves DER scheduling, dispatch, switching, and operations planning. The result is an end-to-end solution for utilities to deliver a resilient and sustainable grid.

“GE’s century of continuous grid innovation combined with Opus One’s energy-focused team will bring together the brightest minds to build the new energy ecosystem with our customers,” Walsh said. “This acquisition reinforces GE Digital’s commitment to helping our customers transition to a sustainable grid.”

“We’ve heard clearly from our utility partners that they need an integrated end-to-end platform to plan, operate, and transact with DERs on their grids. We look forward to becoming an integral part of GE Digital, combining our complementary strengths in best-in-class software solutions,” said Joshua Wong, President & CEO of Opus One. “Our commitment is to empower grid operators with the best strategies and technologies, as they solve some of the world’s toughest challenges and greatest opportunities around distributed energy. It’s an exciting time in our mission to enable the energy transition and the grid of the future.”

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The transaction is expected to close within 30 days.

About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.

About Opus One
Opus One Solutions Energy Corporation is a software and solutions company with the vision of a digitalized, decentralized and decarbonized planet. Its intelligent energy network analysis platform, GridOS®, optimizes complex power flows to deliver operational time-frame energy management and integrated planning to distribution utilities and other managers of distributed energy resources. GridOS is modular, scalable, and integrates seamlessly with existing data systems to unlock greater potential for distributed energy resources, including renewable generation, energy storage, and responsive demand.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211221005380/en/

CONTACT: Media contact:

Ellie Holman

GE Digital

ellie.holman@ge.comGE Media Contact

Mary Kate Mullaney

202.304.6514

marykate.nevin@ge.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY OTHER ENERGY UTILITIES OIL/GAS ALTERNATIVE ENERGY SOFTWARE ENERGY NETWORKS DATA MANAGEMENT

SOURCE: GE Digital

Copyright Business Wire 2021.

PUB: 12/21/2021 09:15 AM/DISC: 12/21/2021 09:16 AM

http://www.businesswire.com/news/home/20211221005380/en