Smart grid solutions firm Landis+Gyr is expanding its footprint in the electric vehicles (EV) charging segment by acquiring a 100% stake in Danish smart EV charging solutions company True Energy.
True Energy is a Denmark-headquartered start-up providing intelligent automatic power consumption software and services for EV charging infrastructure, home appliances and solar solutions.
True Energy’s software integrates smart charging with demand response to help utilities balance the grid through load aggregation and flexibility programmes. This will help Landis+Gyr to expand its footprint in the EV sector as well as to increase its offering within the grid management sector.
Landis+Gyr has over the past years mainly been active in the smart grid and energy management sectors with the majority of its solutions targetting the reliability of grid networks for utilities. EV charging solutions have not yet been a key focus for the company judging from the majority of programmes in which the firm was involved over the past years.
However, the acquisition is expected to help Landis+Gyr to expand its business as the demand for EV charging and demand response solutions continue to expand due to consumers seeking to reduce their carbon emissions and bills.
Werner Lieberherr, the CEO of Landis+Gyr, said the acquisition complements the company’s portfolio by expanding the smart infrastructure capabilities and offering customers a unique solution to solving challenges around the increasingly complex grid infrastructure. “We expect to benefit from strong growth opportunities with the adaption of EVs and expansion from the Nordics to the rest of Europe, leveraging our existing customer base to accelerate access to the technology as well as expanding our offering into other residential areas.
“Currently, we are already involved in pilots in the UK, such as the SmartSTEP project, which brings smart EV charging to residential urban streets, and proof-of-concept activities in France to support our customers in the development of future proof technology.
“True Energy’s technology enables sustainable electricity on the go, automating EV energy use for times of the day when electricity is most cost-efficient and most climate-friendly. Therefore, True Energy’s vision is a perfect match with our sustainable mindset and will enable us to drive our initiatives related to EV charging infrastructure, smart home and solar applications. We look forward to welcoming the True Energy team as part of Landis+Gyr.”
Landis+Gyr AG acquired the startup for a single-digit million purchase price.
True Energy has 25 employees.