Schneider Electric announced an investment in AutoGrid, a provider of flexibility management software for the energy industry. The investment makes Schneider Electric a major shareholder in the company and establishes a co-innovation partnership focused on driving new AI and machine learning solutions for utilities and commercial and industrial companies.
Initially, Schneider Electric will leverage AutoGrid’s Energy Internet and Flex platforms to add artificial intelligence-driven solutions for customers’ distributed energy projects. This will help to accelerate new capabilities for Schneider Electric’s microgrid and behind the meter solutions, as well as further advance its ability to better serve the utility segment as the grid becomes more distributed and users demand greater participation and control over their energy usage.
AutoGrid has a differentiated approach and scalable solution that allows utilities and distributed energy resources, such as microgrids, to connect, allowing commercial and industrial clients to monetize their renewable energy assets. This strategic investment reinforces the company’s commitment to help its clients adopt new technologies, such as AI and machine learning, to transition to a new energy future.
The investment is led by Schneider Electric Ventures, part of Schneider Electric’s newly formed Innovation at the Edge Program. Innovation at the Edge is focused on incubating, investing, and partnering with start-ups and other companies outside of Schneider Electric’s core business to further nurture ideas that will help to achieve a more sustainable energy future.