NantEnergy has acquired Sharp Electronics Corporation's US-based energy systems and services business, which develops and delivers energy management systems across the country.
As part of the deal, NantEnergy retained the entire Energy Systems and Services team, including Carl Mansfield, former general manager and founder of Sharp's energy system and services group. Mansfield will continue with NantEnergy as vice president, system solutions. Among the products that NantEnergy will acquire includes the SmartStorage behind-the-meter energy storage system.
Dr. Patrick Soon-Shiong, chairman of NantEnergy, said: “Adding Sharp's sizable and world-class energy storage business to the NantEnergy service portfolio is an important step in our mission to accelerate the worldwide transformation to clean, reliable energy through intelligent energy storage solutions. The acquisition of Sharp's energy systems business and the SmartStorage brand immediately creates a foothold for NantEnergy in the US, particularly in the important California market.”
Prior to the deal, Sharp's energy systems business was previously rated by Navigant Research as a top 10 distributed-scale energy storage systems integrator in the US market, along with boasting an active pipeline exceeding 60MW of commercial and industrial solar plus storage sites in the country.
With this acquisition, NantEnergy will continue to promote the SmartStorage system. NantEnergy's management team now possesses over 100 years of combined experience in the energy storage industry.
NantEnergy chief technology officer Ramkumar Krishnan said: “The technology and software capabilities of the SmartStorage product are complementary to NantEnergy's proven technology and products in telecom and microgrid markets and enable us to become a leader not only in behind-the-meter applications but also in the broader stationary energy storage market.”
Mansfield added: “The SmartStorage team continually aims to make energy storage accessible, affordable and simple for our customers, guaranteeing that performance will be delivered. NantEnergy's proven technologies will enable us to offer new SmartStorage products and expanded capabilities in the future. I have ultimate confidence in the direction and promise of SmartStorage and NantEnergy, and I look forward to working with a leadership team that shares my passion for growing and innovating in the energy storage market.”