Combined technologies, global reach and executives’ industry expertise
position NantEnergy as leader in energy storage market
SmartStorage® energy solutions will continue to be developed and sold
under the NantEnergy brand
NantEnergy today announced that it has acquired Sharp Electronics
Corporation’s Energy Systems and Services business, which develops and
delivers innovative energy management products for the U.S. market.
Included in the acquisition is the award-winning SmartStorage®
behind-the-meter energy storage system. NantEnergy has also retained the
entire Energy Systems and Services team, including Carl Mansfield,
former general manager and founder of Sharp’s Energy System and Services
Group, who will continue with NantEnergy as Vice President, System
Solutions.
“Adding Sharp’s sizable and world-class energy storage business to the
NantEnergy service portfolio is an important step in our mission to
accelerate the worldwide transformation to clean, reliable energy
through intelligent energy storage solutions,” said Dr. Patrick
Soon-Shiong, chairman of NantEnergy. “The acquisition of Sharp’s energy
systems business and the SmartStorage brand immediately creates a
foothold for NantEnergy in the U.S., particularly in the important
California market.”
Included as part of the acquisition is the SmartStorage behind-the-meter
energy storage system that reduces peak demand usage for commercial and
industrial (C&I) buildings. Sharp’s energy systems business was
previously rated by Navigant Research as a top 10 distributed-scale
energy storage systems integrator for the U.S. market and it has an
active project pipeline exceeding 60MW of commercial and industrial
solar plus storage installations in the U.S.
NantEnergy will continue to promote the SmartStorage system, along with
the optional 10-year Asset Management Service Agreement which provides
routine and unscheduled maintenance, coupled with a 10-year demand
reduction performance guarantee. Existing SmartStorage service
agreements will continue to be covered by NantEnergy.
NantEnergy Chief Technology Officer Ramkumar Krishnan commented, “The
technology and software capabilities of the SmartStorage product are
complementary to NantEnergy’s proven technology and products in telecom
and microgrid markets and enable us to become a leader not only in
behind-the-meter applications but also in the broader stationary energy
storage market. We are excited to leverage SmartStorage technology,
talent and over five years of proven product experience in the C&I
market.”
With the acquisition, NantEnergy expands its market reach with thousands
of energy storage systems deployed globally across more than a dozen
countries, including the lucrative U.S. market. NantEnergy’s management
team now possesses over 100 years of combined experience in the energy
storage industry.
“The SmartStorage team continually aims to make energy storage
accessible, affordable and simple for our customers, guaranteeing that
performance will be delivered,” Carl Mansfield said. “NantEnergy’s
proven technologies will enable us to offer new SmartStorage products
and expanded capabilities in the future. I have ultimate confidence in
the direction and promise of SmartStorage and NantEnergy, and I look
forward to working with a leadership team that shares my passion for
growing and innovating in the energy storage market.”
About NantEnergy
NantEnergy
(formerly Fluidic Energy) is dedicated to accelerating the worldwide
transformation to clean, reliable energy through its innovative and
intelligent energy storage solutions. Enabled by groundbreaking battery
technology and smart-grid intelligence, NantEnergy designs, manufactures
and markets energy storage solutions globally, providing reliable backup
power to critical wireless infrastructure, rural electrification
microgrids, and distributed commercial and industrial energy management
systems. Continuing to build momentum as an energy storage leader,
NantEnergy is installing systems worldwide that increase reliability,
functionality and surpass cost targets necessary for practical energy
storage adoption. While meeting market needs now, NantEnergy is paving
the path for the smart, sustainable and accessible grids of the future.
Energy Everywhere for Everyone. Learn more at NantEnergy.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181108005315/en/
Copyright Business Wire 2018
Source: Business Wire
(November 8, 2018 - 9:00 AM EST)
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