E.ON acquires majority stake in leading smart grid company gridX
E.ON announces the acquisition of a majority stake in GridX to form a strategic partnership that will enable new value chains in the energy market.
Munich, September 2021 – The energy group E.ON today announces the acquisition of a majority stake in gridX, the leading provider of smart grid intelligence in the energy industry. Through the strategic partnership with E.ON, gridX accelerates its growth course and enables new value chains in the market. gridX will remain an independent company – the two founders David Balensiefen and Andreas Booke will continue to act as managing directors.
Accompanied by changes in the Board of Management, E.ON has set itself the goal of intensifying its transformation into a digital company. The acquisition of a majority stake in gridX represents a key cornerstone of E.ON’s digitalization strategy. Through this commitment, the energy group from Essen secures access to XENON, the leading smart grid platform in Europe developed by gridX.
The collaboration between the two companies began in 2017 and has intensified over the past few years – culminating in a Europe-wide rollout of intelligent load management solutions for electric car charging stations in September last year.
Thomas Birr, Chief Strategy & Innovation Officer at E.ON, said: “With the acquisition of the majority shares in gridX, we are consistently continuing our path towards the decentralized and, above all, digital energy world of the decades to come. Our involvement with gridX will enable us to offer our customers innovative digital energy management solutions, both for smart charging of electric vehicles, holistic home energy management and entire smart districts. In this way, we will also enable our customers to achieve their own sustainability goals and contribute to the success of the energy transition.”
Almost no industry is changing as rapidly and as strongly as the energy industry. Due to the growing field of e-mobility and the transformation from consumer to prosumer, new value chains are continuously emerging and customer behavior is drastically changing. gridX’s smart grid platform XENON is the most advanced, manufacturer-independent technology platform on the market that dynamically distributes energy flows through intelligent management.
Based on the anonymized real-time data and with the help of artificial intelligence (AI), the decarbonization of the energy sector can be accelerated. Well-known German companies such as Viessmann and DHL, as well as customers such as ENGIE from Belgium, have already been relying on the gridX solution for years.
David Balensiefen and Andreas Booke, the two founders and managing directors of gridX, explain: “Our primary goal since founding gridX has always been to generate maximum positive impact through our technology platform. Through the strong strategic partnership with E.ON, we can now better support our customers on their way to a sustainable and decarbonized energy future.”
gridX is a leading smart grid company founded by Andreas Booke and David Balansiefen with offices in Munich and Aachen. The company’s digital energy platform, XENON, provides scalable infrastructure to connect and control distributed energy resources. gridX uses edge and cloud services to develop digital solutions for smart charging and energy management to make renewable energy accessible to all, independent of manufacturers.
These solutions dynamically distribute available energy, intelligently optimize charging processes and ensure that peak loads are avoided. Companies such as E.ON, Viessmann and DHL are already using customized solutions developed together with gridX.