Moixa, a provider of distributed energy resources management software, has announced that it has been acquired by Lunar Energy, a company focusing on providing clean energy products to deliver home electrification at scale.
Moixa’s investors ITOCHU and HONDA have now also become shareholders in Lunar, alongside lead investors Sunrun and SK Group.
The transaction would help to scale up the company’s GridShare software, which manages batteries across Europe, Japan, and the U.S.
The technology, now renamed Lunar Gridshare, is deployed at scale across 35,000 homes (330 MWh of batteries) via ITOCHU in Japan, supporting advanced charging services for Honda electric vehicles and facilitating UPS’s transition to electric vehicle fleets in the U.K.
“From our early patents in smart homes to managing the world’s largest single fleet of home batteries, our Gridshare software has led the industry for more than 10 years and significantly advanced smart home charging,” said Simon Daniel, CEO & co-founder of Moixa. “In joining Lunar Energy, we have the exciting opportunity to pursue even greater scale for Gridshare by aggregating larger fleets of batteries across the world to better manage clean energy intelligently for homeowners and businesses.”
The company has raised $300 million since its inception. It has used the funds to hire employees, acquire Moixa, and invest in product development and manufacturing activities to bring its first product to market later this year.
“The first offering of our product ecosystem is a next-generation home battery system. It’s the first step towards our mission to electrify all homes and connect communities to form clean, resilient virtual power plants—freeing us from power outages, rising energy costs, and harmful emissions,” said Kunal Girotra, Founder and CEO of Lunar Energy.
This week, Germany-based Schuler Group, a subsidiary of Andritz, an international technology group offering plants, equipment, systems, and services for various industries, acquired Sovema Group, an Italian battery manufacturer. With this deal, Schuler will be the sole owner of Sovema.
According to Mercom’s 1H and Q2 2022 Funding and M&A Report for Storage, Grid & Efficiency, there were a total of 10 Smart Grid M&A transactions (two disclosed) in 1H 2022, compared to 11 transactions (all undisclosed) in 1H 2021.