EnergyHub Acquires Resideo Grid Services to Accelerate VPP Growth for Utilities
MWN-AI** Summary
EnergyHub has announced its acquisition of Resideo Grid Services, aiming to enhance its position in the growing market of distributed energy resource management systems (DERMS) as utilities develop Virtual Power Plants (VPPs). This consolidation reflects a key industry trend towards integrated platforms that can efficiently manage a variety of distributed energy resources, such as electric vehicles, batteries, and more, in response to rising electricity demand.
The acquisition strengthens EnergyHub’s existing Edge DERMS platform while providing Resideo’s utility clients access to a more extensive ecosystem of DERs. As VPPs become crucial for utilities striving to deliver reliable and affordable energy, the ability to manage large numbers of grid-edge devices becomes essential. "VPPs are the fastest, cheapest, and most customer-centric solution to load growth," commented Seth Frader-Thompson, CEO of EnergyHub.
With this acquisition, EnergyHub will now oversee more than 2.5 million DERs under a unified platform, streamlining the process for utilities to meet evolving grid demands. The collaboration also allows utility clients of Resideo Grid Services to tap into new types of DER programs, enabling them to deploy and expand initiatives more effectively.
Dave Oberholzer, General Manager at Resideo Grid Services, expressed pride in the innovative reputation built by their team and emphasized how joining EnergyHub will enhance their clients' ability to transition to a carbon-free grid. EnergyHub is currently trusted by over 120 utilities across North America, serving more than 55 million customers. This acquisition will further enable them to empower utilities towards a sustainable energy future.
The financial specifics of the transaction were not disclosed but mark a significant step in EnergyHub's strategy to lead in the DERMS sphere.
MWN-AI** Analysis
EnergyHub's acquisition of Resideo Grid Services marks a significant advancement in the utility sector's transition toward integrated distributed energy resource management systems (DERMS). This strategic move is timely as utilities face soaring electricity demands, necessitating innovative solutions like Virtual Power Plants (VPPs) to enhance grid reliability and efficiency.
The collaboration strengthens EnergyHub's position as a leader in Edge DERMS, integrating Resideo's established demand response expertise with their extensive infrastructure. With the ability to manage 2.5 million distributed energy resources on a single platform, EnergyHub can offer utility clients improved visibility and streamlined operations in deploying new demand management programs.
Investors and market analysts should note that this acquisition consolidates EnergyHub's competitive advantage, as they are now equipped to orchestrate a diverse ecosystem of DERs, including electric vehicles and battery storage systems. The growing focus on customer-centric, cost-effective solutions for load growth enhances EnergyHub's relevance in today’s energy landscape.
As VPP adoption rises, EnergyHub is strategically positioned to capitalize on the increasing trend towards renewable energy and the shift to decarbonized grids. Their trusted supply relationships with over 120 utilities, including major players like Eversource and Duke Energy, underscore their market stability and growth potential, aligning with broader sustainability goals.
For investors, the integration of Resideo Grid Services is indicative of a robust development strategy focused on scalability and innovation in energy management. It also reinforces Alarm.com (NASDAQ: ALRM), EnergyHub’s parent company, as a formidable player in the clean energy market. In conclusion, stakeholders should monitor EnergyHub’s performance closely, particularly its ability to leverage this acquisition to unlock new DER capabilities, while furthering its mission of creating a sustainable energy future.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Acquisition strengthens EnergyHub’s Edge DERMS offering and provides Resideo Grid Services utility clients access to a broader ecosystem of DERs
EnergyHub, a leading provider of grid-edge flexibility solutions, today announced its acquisition of Resideo Grid Services, a leader in demand response aggregation and program management. The acquisition reflects a growing industry shift toward using a single integrated edge distributed energy resource management system (DERMS) platform to manage all distributed energy resources (DERs) as utilities expand Virtual Power Plants (VPPs) to include EVs, batteries, and other DERs.
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Acquisition strengthens EnergyHub’s Edge DERMS offering and provides Resideo Grid Services utility clients access to a broader ecosystem of DERs
As demand for electricity grows, VPPs play an essential role in helping utilities deliver reliable, affordable service. Edge DERMS platforms are key to scaling VPPs, allowing utility operators to orchestrate millions of devices at the grid edge.
“As utilities face rising demand, they’re using VPPs for fast, cost-effective, flexible capacity,” said Seth Frader-Thompson, CEO of EnergyHub. “Resideo Grid Services provides DER management services to over two dozen utilities and markets, and has built a strong reputation in demand response. Together, we now manage over 2.5 million DERs on one platform, allowing any utility to orchestrate any DER to meet evolving grid needs.”
The acquisition solidifies EnergyHub’s position as the leading Edge DERMS, trusted by utilities to manage a wide range of DERs from a single platform. It also makes new DER classes available to Resideo Grid Services utility clients – making it easier for them to deploy and grow new programs through unified visibility and control.
“VPPs are the fastest, cheapest and most customer-centric solution to load growth,” added Frader-Thompson. “This acquisition reflects our confidence in our strategy and our ability to lead the market toward a future where VPPs are critical tools integrated into system planning and grid operations.”
Dave Oberholzer, General Manager at Resideo Grid Services, said, "I am extremely proud of the innovation, customer partnerships, and strong reputation our Grid Services team has built. By joining forces with EnergyHub, we will be able to offer our clients a broader ecosystem of DERs and leverage our winning platforms and talented team to accelerate the reliable and cost-effective transition to a carbon-free grid."
EnergyHub’s platform is trusted by more than 120 utilities, who collectively serve more than 55 million customers, including APS, Duke Energy, Eversource, National Grid, and LADWP. With Resideo Grid Services, EnergyHub is making it easier for utilities to deploy new types of DER programs, gain visibility, and manage resources at scale.
The terms of the transaction were not disclosed.
EnergyHub is a subsidiary of Alarm.com (NASDAQ: ALRM), the leading platform for the intelligently connected property.
About EnergyHub
EnergyHub is the leading grid-edge DERMS provider. Utilities rely on EnergyHub's DERMS platform to manage all distributed energy resources to serve grid and market objectives. EnergyHub works with over 120 utilities in North America to manage more than 2.5 GW of dispatchable flexible capacity. We empower utilities and their customers to create a clean, distributed energy future. EnergyHub is a subsidiary of Alarm.com (NASDAQ: ALRM). For more information, visit www.energyhub.com .
About Resideo Grid Services
Resideo Grid Services is a leader in demand response aggregation and program management, helping utilities and energy retailers manage grid demand with precision and efficiency. Since 2012, our team has been providing innovative solutions to reduce peak demand, optimize load flexibility, and support utility programs nationwide. Resideo currently manages or participates in nearly 300 U.S. utility demand management programs and engages in six wholesale energy markets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251202119616/en/
Media Contact:
Alexandra Pony
alexandra@ponycommunications.com
250.858.0656
FAQ**
How will the acquisition of Resideo Grid Services by EnergyHub impact Alarm.com Holdings Inc. ALRM’s overall growth strategy in the distributed energy resource management sector?
What specific advantages does EnergyHub seek to gain from the integration of Resideo Grid Services that could enhance Alarm.com Holdings Inc. ALRM’s competitive edge in the market?
Given the growing reliance on VPPs, how is EnergyHub planning to leverage its expanded platform post-acquisition to benefit Alarm.com Holdings Inc. ALRM’s utility partners?
What are the anticipated financial impacts of the Resideo Grid Services acquisition on Alarm.com Holdings Inc. ALRM, particularly in terms of revenue and market share within the DERMS landscape?
**MWN-AI FAQ is based on asking OpenAI questions about Alarm.com Holdings Inc. (NASDAQ: ALRM).
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