Centrica-Backed IoT Platform Acquires Home Energy Management Service Provider
April 24,2019
GreenCom Networks, an energy IoT company, is acquiring shine a provider of energy management services for residential customers founded by the innogy Innovation Hub.
The acquisition allows GreenCom Networks to expand its offering around home energy management and provides GreenCom access to shine’s customer base
As previously reported, Centrica's innovation arm has invested in GreenCom Networks, in conjunction with announcing the development of offers to integrate solar, batteries, and heat pumps (see story here)
Christian Feißt, CEO of GreenCom Networks, stated: "The acquisition of shine is perfect for us to demonstrate how disruptive energy management services will be offered to retail customers through digital technology. We are already a leading energy IoT platform provider. Now, the deal with shine allows us to truly demonstrate what the retail energy business will look like."
GreenCom said that, "GreenCom will integrate shine’s end-customer base and services into its energy IoT platform. This will allow GreenCom to offer end-to-end services on top of its technology platform, which allows integration of solar PV, batteries, heat pumps or electric vehicles from various manufacturers."
"GreenCom plans to demonstrate disruptive services for residential customers that go beyond today’s flat-rate or energy community offerings in the market," GreenCom said
Felix Grolman, CEO of shine, stated: "[W]ith GreenCom and shine joining forces, we now offer a full range of home energy management services that combine the energy IoT expertise of GreenCom and the end customer experience of shine."