TOKYO--(BUSINESS WIRE)--Yokogawa Electric Corporation (TOKYO:6841) announces it has acquired all of the outstanding shares of PXiSE Energy Solutions LLC., a San Diego-based developer of software that enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real time. Through this acquisition, Yokogawa will build on its capabilities in the monitoring and control of power generation facilities and assist customers in the power transmission and distribution sectors to meet their clean energy goals.
Renewable energy sources such as wind and solar PV are crucial for reducing greenhouse gas emissions, however the power generated is unpredictable as they are affected by the weather conditions. It also requires a much larger number of units distributed over a wider area to generate the same amount of power as a conventional power station. In addition, energy consumers themselves are becoming energy resources as they install solar power and battery storage systems. These factors are altering the very nature of the grid that utilities manage.
PXiSE (pronounced “pice”) was started in 2016 based on the idea that real-time data from the grid combined with artificial intelligence could be leveraged to help utilities manage the rapidly increasing number of distributed energy resources that are coming online every year. Since proving this concept, the company has delivered more than one gigawatt of projects in the US, Asia, and Oceania, helping clients achieve both their grid management and emission goals. Prior to the acquisition, the company was a subsidiary of Sempra, a US-based energy infrastructure company, and was partially owned by a subsidiary of Mitsui & Co., Ltd.
PXiSE’s Active Control Technology (ACT) is an automated grid control software platform that consists of hybrid power plant controls, microgrid controls, and a distributed energy resource management system, achieving holistic system optimization by enabling the integration of groups of DERs alongside traditional grid components. It can also maximize the efficiency and production of utility-scale renewable energy assets. The patented ACT delivers higher reliability than conventional power system monitoring and control systems due to its high-speed measurement and control, which enable seamless energy source transitions. Integration of external data sets and predictive forecasting support cost and profit optimization.
In the power sector, Yokogawa has decades of experience in delivering and optimizing control systems for conventional power plants around the world, and Yokogawa’s controllers and industrial IoT software platforms support renewable power generation facilities as well as energy management systems for buildings, factories, and communities. The addition of PXiSE to the Yokogawa Group will enable the company to help global customers involved in power transmission and distribution to better manage the increasingly diversified energy supply chain, maximize the deployment of renewable energy assets, and ultimately deliver affordable, reliable, and sustainable forms of energy.
“We’re thrilled to be joining Yokogawa Electric Corporation, whose deep expertise in power plant and industrial control systems is a natural complement to our innovative grid controls technology. Combined, Yokogawa and PXiSE expertise provides tremendous value creation for customers, the energy industry, and society,” said Patrick Lee, CEO and cofounder of PXiSE Energy Solutions. “Our market growth will be greatly strengthened thanks to Yokogawa’s global engineering, sales, service, and support network, and Yokogawa will be able to accelerate their expansion into the power delivery and distribution end-use sectors. Together, we look forward to becoming worldwide renewable energy leaders, enabling the clean energy transition.”
“Yokogawa believes that the decarbonization trend in the energy sector is one of the biggest challenges society has ever faced,” said Koji Nakaoka, vice president and head of the Energy & Sustainability Business Headquarters and the Global Sales Headquarters at Yokogawa Electric. “PXiSE’s highly innovative technologies address many of the issues related to the optimal production and integration of renewable and other energy sources, so we are extremely excited to welcome them to the Yokogawa Group. We look forward to being able to make this outstanding technology available to our customers around the world as soon as possible.”
Outline of PXiSE Energy Solutions LLC.
Location: San Diego, California, USA
Founded: December 2016
Main business: Development and implementation of software solutions for a renewable and distributed electric grid
Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations.
Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,500 employees in a global network of 119 companies spanning 61 countries.
For more information, visit www.yokogawa.com
The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.