The ink was barely dry on the news of AlsoEnergy’s acquisition of Draker when word came out that AlsoEnergy is now merging with Locus Energy, a solar monitoring and data analytics provider delivering solutions across the residential, commercial, and utility sectors. The transaction enhances AlsoEnergy’s ability to deliver end-to-end solutions across all geographies and market segments and affirms AlsoEnergy as a global leader in renewable energy asset monitoring and control.
“Locus Energy is a strong complement to our solutions portfolio,” said Bob Schaefer, Chief Executive Officer of AlsoEnergy. “Throughout 2018, we have made strategic investments to consolidate best-of-breed technologies that can be integrated through our unified back-end platform to create an end-to-end industry leading portfolio. The consolidation of these historically disparate systems creates strong value for our customers, including comprehensive portfolio aggregation across all modes of energy generation as well as unified reporting and metrics across all platforms.”
Under the terms of the agreement, AlsoEnergy will continue to lead the business, with Locus Energy’s prior owner, Genscape, retaining a minority equity stake in the combined entity.
”We are excited to join the AlsoEnergy family,” said Michael Herzig, Chief Executive Officer of Locus Energy. “Together, the combined business will be able to better meet our customers’ evolving needs and enable greater support throughout the entire project lifecycle, with support and engineering resources deployed around the world.”
“The addition of Locus strengthens our leadership position as the most innovative and complete solution provider in the market,” continued Schaefer. “The combined portfolio will give our customers the ability to further streamline operations and achieve the highest levels of performance, efficiency and profitability, using a single technology platform while retaining the best attributes and stakeholder views from each system.”
In addition, the integration of Locus Energy’s customer service and engineering support center will strengthen AlsoEnergy’s global service organization and will enable the delivery of world-class around-the-clock support, seven days a week.