BOLINGBROOK, Ill., May 23, 2022 /PRNewswire/
G&W Electric’s investment will allow Intelligent Generation to grow its customer base for energy storage value stack services and G&W Electric’s market for intelligent microgrids.
G&W Electric, a global supplier of electric power equipment since 1905, and Intelligent Generation (“IG”), a Chicago-based energy storage optimization platform that empowers businesses to engage the clean energy grid, announced today the completion of a $3.6 million strategic investment. This investment from G&W Electric will allow IG to expand the sales and technology capabilities for its patented POWR:Suite platform to increase its market share in the rapidly growing market for energy storage optimization services. G&W Electric, who is developing its own microgrid to power its Bolingbrook, IL headquarters, is also working with IG to develop a common go to market strategy for intelligent microgrids. In addition to this investment, G&W Electric and IG have entered into a licensing agreement that allows G&W Electric to bundle the IG POWR:Suite into G&W Electric’s microgrid offerings.
“Intelligent Generation has always been a company of firsts,” said Jay Marhoefer, co-founder and CEO of Intelligent Generation. “IG patented the energy storage value stack in 2010. We monetized the first behind-the-meter energy storage systems for commercial and industrial customers in both PJM and MISO. IG’s solution dramatically improves return on investment to customers wanting to invest in more reliable and resilient electric power, and we have a perfect partner in G&W Electric to grow this market.”
“The Intelligent Generation POWR:Suite platform is the key ingredient that transforms microgrids from providing resiliency alone, to generating revenue for grid services while saving significant money on energy costs,” said John Mueller, Chairman and owner of G&W Electric Company. “We view IG’s software and intellectual property as a best-in-class addition to G&W Electric’s industry leading distribution grid solutions.”
About G&W Electric
Since 1905, G&W Electric has helped power the world with innovative power grid solutions and products. With the introduction of the first disconnectable cable terminating device in the early 1900s, G&W Electric began to build a reputation for innovative engineered solutions to meet the needs of systems designers. With an ever-present commitment to customer satisfaction, G&W Electric enjoys a worldwide reputation for quality products and superior service.
About Intelligent Generation:
Chicago-based Intelligent Generation is an industry-leading energy storage optimization platform that empowers businesses to engage the clean energy grid. Started in 2009, IG’s patented POWR:Suite platform has delivered both electricity bill savings and power market revenues to commercial and industrial customers. IG presently has projects in both the PJM and MISO regional transmission organizations.