Denmark-based SCADA International has announced a deal today to buy Dublin-based NovoGrid, a University College Dublin spin-out company.
NovoGrid specialises in grid analytics technology and empowers developers, asset owners and energy traders with insights into grid connection possibilities long before investments are made.
The technology allows customers to shorten the time to market by providing actionable connection options.
SCADA said today's deal shows its dedication to helping accelerate the energy transition.
"Today, grid integration and lengthy interconnection queues pose one of the biggest threats to electrification and decarbonisation of the energy system because the current power grid infrastructure is not built or dimensioned for the fast expansion of variable power generation and increase in power demand," it added.
Paul Manning and Andrew Keane jointly founded the company in 2014 and they developed proprietary grid analysis technologies based on years of research, leveraging highly sought-after power engineering expertise firsthand to tackle challenges from the rapid growth in renewable and electricity demand.
Paul Manning said the timing was just right to bring the company's unique software and their team's specialised skill set to new markets and customers.
"For the past few years, we have closely tracked the industry's shift toward renewables and electrification, and we are now at a tipping point where grid integration is the number one problem for most of our customers," he said.
"With this increase in demand, it has been a natural step for us to expand our company, and we are more than happy to be doing so together with SCADA International," he added.
"We are at a point where meeting grid requirements is essential in ensuring a secure and sustainable future energy supply. This puts added pressure on our customers," Andrew Keane said.
"Bringing in more resources means we can be a stronger partner to help them scale the barrier. I am excited to begin this partnership with SCADA International and support our customers in many more areas than today," he added.
As a part of the acquisition, Paul and Andrew will continue in their current roles and contribute to the further development of SCADA International.
"Alongside the rapid development of renewables and increased rate of electrification, the demand for the highly specialised expertise that NovoGrid covers is increasing, too," Thomas Bagger, CEO at SCADA International said.
"NovoGrid is a front-runner in helping customers solve grid integration challenges by quickening the interconnection process and providing intelligent tools for better decision-making," he added.
