Aggreko Acquires 14 Percent Stake in Origami Energy
Aggreko has acquired a 14-percent ownership share in Origami Energy, an intelligent software platform developer that optimizes revenue-earning capacity of grid-connected generation and storage assets. Founded in 2013, Origami Energy uses smart technology to tackle some of the key issues facing the energy industry today resulting from the shift towards decentralization, decarbonization, and digitalization.
Origami Energy’s intelligent solutions help utilities, traders, network operators, energy providers and consumers to realize the full potential of their energy assets. Origami Energy’s technology enables greater use of renewables and increases profitability for energy market participants by optimizing the balance between grid demand and supply.
The investment will also help Aggreko’s strategy to lower the total cost of energy for its customers while maintaining reliable power supply. Aggreko has worked with Origame Energy for more than a year, and this latest deal reflects its approach of investing in strategic partnerships that broaden its range of specialist services which will benefit its customers, particularly as opportunities emergy through changing energy markets.
The investment in Origama adds capabilities that are complementary to those brought into the group through the acquisition of Younicos in 2017 and ensures that the evolving needs of grid-connected customers are well served, Aggreko said.
“This investment provides excellent new opportunities to both Aggreko and our customers,” said Dan Ibbetson, managing director of Aggreko’s Global Solutions. “Energy markets are changing and investments like this make sure we are well-positioned to take advantage of these changes, now and in the future. Our global reach and diverse customer base, matched with the innovative capability of Origami Energy, will provide both businesses with significant growth opportunities.”
“We are excited to have Aggreko as a new investor,” said Peter Bance, chief executive of Origami Energy. “The global scale and additional funding provided by Aggreko will help accelerate the growth of Origami Energy, in the U.K. and internationally. Furthermore, our recent partnership announcements with Smartest Energy and Good Energy demonstrate that innovative energy market players realize the value in using our intelligent technology to improve profitability across energy markets.”
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.