NEW YORK, May 09, 2019 (GLOBE NEWSWIRE) -- GridMarket, the AI-powered clean energy project sourcing and execution platform, today announced a strategic investment by Marubeni America Corporation. Following extensive vetting, multiple successful pilot projects, and ongoing collaborations, Marubeni purchased a minority ownership interest in GridMarket. This strategic investment advances the powerful existing partnership between GridMarket and Marubeni and will accelerate key projects and goals for each company.
Maurbeni’s official announcement can be found here.
“Our partnership with Marubeni enables us to continue collaborative work transforming Marubeni’s portfolio from within, while maintaining our company vision to transition the rest of the world to clean, distributed energy through the power of data and artificial intelligence,” said GridMarket CEO, Nicholas J. Davis. “Marubeni’s tremendous network of over 800 affiliate companies and tens of thousands of customers represents a substantial opportunity. We have already successfully applied the platform across a diverse initial sample, and the Marubeni network is just the beginning of the global potential. We look forward to leveraging Marubeni’s channels and support as an accelerant to rapidly scale the platform.”
GridMarket’s distributed energy project platform uses proprietary analytics and machine learning to identify compelling opportunities and recommend best-fit renewable and distributed solutions like battery storage, solar PV, fuel cells, combined heat and power, and more. The platform’s unique approach leverages billions of data points to automate and streamline traditional alternative energy feasibility and development processes. Through the platform, GridMarket is able to identify the most efficient, cost-effective project opportunities and source best-fit vendor partners through its integrated competitive marketplace.
“We strongly believe that GridMarket’s unique business model will continue to have a profound impact on the energy market,” said Masa Nagai, Department Manager at Marubeni America Corporation. “In supporting their vision and selecting their platform to integrate distributed energy solutions across our own portfolio, we are confident in GridMarket as a key market enabler and see the platform as a catalyst for change in the global energy economy.”
With remote capabilities and a flexible methodology, the platform has already demonstrated value, including helping commercial and industrial portfolios reduce operating expenses, offering distributed solution integration for utilities, and supporting nations in the creation of customized energy strategies. GridMarket’s platform unifies and simplifies a complicated market.
“Together we are reimagining a low-carbon energy future. By applying the platform across Marubeni’s robust global portfolio, we will lower their carbon footprint and increase sustainable operations,” said Davis. “Replication of these successes beyond the Marubeni ecosystem will drive widespread adoption as the platform crystalizes the economic and environmental benefits of distributed energy technologies and microgrid solutions.”
The capital infusion will allow GridMarket to expand operations in existing markets, service Marubeni’s affiliates, partners and customers, and accelerate expansion into new markets. GridMarket will continue to refine and strengthen platform capabilities and include new technologies to capitalize on ever-evolving global energy realities. This enhanced partnership with Marubeni, a Global Fortune 500 company, will further empower GridMarket to bring clean, cost-saving, resilient power to properties, portfolios, and territories across the world.
Contact Information
Jillian Caramanna
GridMarket
Jillian.caramanna@gridmarket.com
www.gridmarket.com
Masa Nagai
Marubeni America Corporation
Nagai-M@marubeni.com
www.marubeni.com
About GridMarket
GridMarket is a distributed energy project platform and competitive marketplace leveraging big data and predictive analytics to accelerate the global energy transition. The GridMarket platform automates the creation of customized opportunity assessments and technology agnostic project recommendations. Actionable energy insights empower energy consumers, governments, and utilities to dynamically manage their energy potential and implement the most beneficial, cost-effective solutions.