EnergyCAP, an energy and sustainability enterprise resource planning software company, announced the acquisition of Wattics.
Wattics is an energy management analytics and monitoring platform allowing professionals in the energy and sustainability industry to manage, monitor, and analyze energy and commodities from a single dashboard. The Irish company uses advanced software algorithms to analyze raw energy measurements, uncover abnormal energy usage, and alert to unusual behavior and consumption trends.
With 40% of global carbon emissions originating from the built environment, many organizations have established goals to decarbonize their operations and achieve net-zero carbon emissions within the next ten to twenty years.
“Our mission is to empower energy and sustainability leaders with actionable data to manage consumption, reduce their carbon footprint, and drive savings, Wattics fits perfectly into our product vision by expanding our platform to include the end-to-end, real-time building- and device-level interval data and analytics necessary to improve energy efficiency and accelerate decarbonization. EnergyCAP and Wattics together become the ideal solution to support and validate the entire customer journey to net-zero,” said EnergyCAP CEO Tom Patterson.
EnergyCAP claims to have helped over 10,000 energy and sustainability organizations across government, education, and commercial sectors streamline energy management, utility bill accounting, and sustainability reporting for over forty years.
“It is the coronation of a journey that started in Ireland over ten years ago, which now has a global footprint in over fifty-five countries. With EnergyCAP, we have a huge opportunity to dramatically accelerate our mission, allowing companies to mitigate climate change by purposefully managing their carbon footprint,” said Wattics CEO & Founder Antonio Ruzzelli.
EnergyCAP is financially backed by Resurgens Technology Partners, a tech-focused private equity firm.
Earlier this year, Power Factors, a provider of renewable asset management software, acquired Inaccess, a provider of integrated mission-critical software and hardware solutions for renewable energy projects, battery energy storage systems, hybrid plants, and virtual power plants (VPPs). Through the acquisition, Power Factors expands its customer asset management portfolio to nearly 200 GW.
According to Mercom’s 1H and Q2 2022 Funding and M&A Report for Storage, Grid & Efficiency. In 1H 2022, there were a total of 10 Smart Grid M&A transactions (two disclosed) compared to 11 transactions (all undisclosed) in 1H 2021.
