Dublin-based smart energy company GridBeyond has acquired Veritone Inc Energy Business – the US-based software company uses AI for forecasting, optimisation and the control of energy, via its real-time intelligent platform, to get the best efficiencies our of distributed energy resources (DER).
“We couldn’t be more excited to join the GridBeyond team. Our customers and partners will benefit from working with a global, trusted leader in the energy industry with extensive experience providing AI-powered solutions for trading and energy management,” says Sean McEvoy, General Manager of Energy at Veritone.
The deal will widen GridBeyond's grip on the US market as it vies for a dominant position in the global market with its solution which 'supports electricity grid integration with renewables to make the leap to a greener future'.
“The acquisition of Veritone Energy is another strategic step we are taking to expand our reach and capabilities in the management and optimisation of distributed energy assets, and we are delighted to welcome their team to GridBeyond. By combining the capabilities of both organisations, we offer customers a comprehensive suite of energy management and energy trading solutions that leverage the power of AI and machine learning,” says Michael Phelan, CEO and co-founder of GridBeyond.