Younicos forms new business units to capitalize on growing storage market

Younicos – a leading energy storage company with offices in Berlin, Germany and Austin, Texas – has announced today the creation of three new business units and a revamped senior management team as part of a strategy to corner a large part of the growing grid-scale energy storage market.

The company’s new executive leadership team boasts a wealth of experience right across the board of energy, while its three-pronged strategy to seize opportunities in the storage market sees the company spin out entirely new sections of its business.

The core of Younicos’ software integration and service offering will form part of its Technology Business Unit, which has more than 20 years of experience, 90 MW of installed storage capacity and $200 million of investment under its belt.

A secondary prong of the reshuffled Younicos sees the creation of Development Company Business Unit, which will focus on the creation of island, micro-grid and grid-scale PPAs, with energy-storage-as-a-service its key theme. Here, Younicos will leverage its financial and industrial partnerships, as well as the expertise accrued under the expanded management team, to pre-package solutions that offer customers a cleaner alternative to diesel generators and other, similarly polluting fossil fuel-sourced generators.

The third prong of the new Younicos business is the newly created Consulting Company Business Unit, which will draw upon the many years of consulting experience accrued by Younicos’ new senior management team to offer guidance on financing, technology and regulation within the storage industry.

In order to achieve make good on such an expansion and diversification, Younicos has sought to hoover up a pool of industry talent, attracting a number of experienced and talented individuals in the process, including new CFO Philippe Poux (former COO of Areva Solar), new CRO Stephen Lee Prince (former CEO of Oracle and Edison Enterprises), new COO Wade Guindy (who has held C-level positions at a range of Fortune 100 companies) and energy storage veteran Alan Gotcher, who joins the company as new CTO.

"We’re seeing an unprecedented and rapid transition in global energy markets," said Younicos Group CEO James P. McDougall. "The continuing decline in the price of storage, wind and solar-based generation, combined with our field-proven integrated software applications, creates a tremendous opportunity for industry pioneers like Younicos."

Currently, Younicos employs 120 people across its two offices, with 90 staff in Berlin and 30 in the U.S. This latest expansion will eventually see the team grow to around 200 people, Younicos press spokesperson Philip Hiersemenzel told pv magazine, with new additions recruited in equal measure in both locations. The company is also exploring the possibility of opening an office in Asia, possibly in Singapore, in the near future.

The CEO added that the new team of industry veterans will allow the company to leverage its know-how in the sector faster and more accurately, enabling Younicos to continue to shape the energy storage sector. "Renewables and energy storage are increasingly becoming a mainstream asset class for energy generation and services," he said. "As the energy landscape continues to rapidly shift towards energy storage and renewables, Younicos will leverage its leading software platforms, business models and partnerships to deploy solutions and services."