NantEnergy, formerly Fluidic energy, has acquired the energy systems and services business of Sharp in the United States.
The acquisition includes Sharp’s SmartStorage system, a behind the meter energy management platform, which reduces peak energy use for companies through smart charging. The business also has an active pipeline of more than 60 MW of solar + storage projects in the United States.
NantEnergy says the acquisition will allow it to offer “energy as a service”, and to further leverage its zinc-air battery technology for longer duration storage and backup power applications. It adds that it will continue to promote the SmartStorage system, along with the optional 10-year Asset Management Service Agreement. Existing SmartStorage service agreements, meanwhile, will continue to be covered by NantEnergy. The financial details of the acquisition have not been disclosed.
“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,” said Patrick Soon-Shiong, chairman of NantEnergy. “The acquisition of Sharp’s energy systems business and the SmartStorage brand immediately creates a foothold for NantEnergy in the U.S., particularly in the important California market.”
Following the extension of a subsidy scheme in September, California is set for a boom in behind the meter storage, with up to 2.5 GW expected to be installed by 2025.