G&W Electric Company Announces $3.6 million Strategic Investment to Intelligent Generation
G&W Electric's investment will allow Intelligent Generation to grow its customer base for energy storage value stack services and G&W Electric's market for intelligent microgrids.
BOLINGBROOK, Ill., May 23, 2022 /CNW/ -- G&W Electric, a global supplier of electric power equipment since 1905, and Intelligent Generation ("IG"), a Chicago-based energy storage optimization platform that empowers businesses to engage the clean energy grid, announced today the completion of a $3.6 million strategic investment. This investment from G&W Electric will allow IG to expand the sales and technology capabilities for its patented POWR:Suite platform to increase its market share in the rapidly growing market for energy storage optimization services. G&W Electric, who is developing its own microgrid to power its Bolingbrook, IL headquarters, is also working with IG to develop a common go to market strategy for intelligent microgrids. In addition to this investment, G&W Electric and IG have entered into a licensing agreement that allows G&W Electric to bundle the IG POWR:Suite into G&W Electric's microgrid offerings.
"Intelligent Generation has always been a company of firsts," said , co-founder and CEO of Intelligent Generation. "IG patented the energy storage value stack in 2010. We monetized the first behind-the-meter energy storage systems for commercial and industrial customers in both PJM and MISO. IG's solution dramatically improves return on investment to customers wanting to invest in more reliable and resilient electric power, and we have a perfect partner in G&W Electric to grow this market."
"The Intelligent Generation POWR:Suite platform is the key ingredient that transforms microgrids from providing resiliency alone, to generating revenue for grid services while saving significant money on energy costs," said John Mueller, Chairman and owner of G&W Electric Company. "We view IG's software and intellectual property as a best-in-class addition to G&W Electric's industry leading distribution grid solutions."
For more information on this announcement, visit gwelectric.com or intelgen.com.
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SOURCE G&W Electric