Solar module provider Q CELLS announced this week that it has signed an agreement to acquire 100% stake in San Francisco-based energy storage solutions company Growing Energy Labs, Inc. (Geli). The transaction is subject to customary closing conditions.
Geli’s software platform streamlines the energy storage development process, offering a solution for design, automation and management of Battery Energy Storage Systems (BESS), it says. The company says that its software uses AI to determine the optimal size of the BESS and maximize the potential revenue stack for customer deployments.
Geli advances BESS deployments coupled with solar and EV charging infrastructure often in combination with an electricity tariff or load profile. Geli’s products have cloud architecture and Industrial IoT technologies that support scalability and extensibility across multiple geographies, market segments, and hardware solutions.
With the acquisition Q CELLS says it will be able to provide integrated solar + storage solutions.
“There is increasing demand in the energy storage space for comprehensive energy solutions. We are excited to welcome the Geli team and work together to strengthen our competitiveness in the global distributed energy market. Q CELLS and Geli’s combined capabilities will allow us to provide smart energy solutions to our customers and together we can unfold the next chapter towards a cleaner tomorrow.” Hee Cheul (Charles) Kim, CEO of Q CELLS said.