EnergyHub Acquires Resideo Grid Services to Accelerate VPP Growth for Utilities
Acquisition strengthens EnergyHub's Edge DERMS offering and provides Resideo Grid Services utility clients access to a broader ecosystem of DERs
EnergyHub, a leading provider of grid-edge flexibility solutions, today announced its acquisition of Resideo Grid Services, a leader in demand response aggregation and program management. The acquisition reflects a growing industry shift toward using a single integrated edge distributed energy resource management system (DERMS) platform to manage all distributed energy resources (DERs) as utilities expand Virtual Power Plants (VPPs) to include EVs, batteries, and other DERs.
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Acquisition strengthens EnergyHub's Edge DERMS offering and provides Resideo Grid Services utility clients access to a broader ecosystem of DERs
As demand for electricity grows, VPPs play an essential role in helping utilities deliver reliable, affordable service. Edge DERMS platforms are key to scaling VPPs, allowing utility operators to orchestrate millions of devices at the grid edge.
"As utilities face rising demand, they're using VPPs for fast, cost-effective, flexible capacity," said Seth Frader-Thompson, CEO of EnergyHub. "Resideo Grid Services provides DER management services to over two dozen utilities and markets, and has built a strong reputation in demand response. Together, we now manage over 2.5 million DERs on one platform, allowing any utility to orchestrate any DER to meet evolving grid needs."
The acquisition solidifies EnergyHub's position as the leading Edge DERMS, trusted by utilities to manage a wide range of DERs from a single platform. It also makes new DER classes available to Resideo Grid Services utility clients – making it easier for them to deploy and grow new programs through unified visibility and control.
"VPPs are the fastest, cheapest and most customer-centric solution to load growth," added Frader-Thompson. "This acquisition reflects our confidence in our strategy and our ability to lead the market toward a future where VPPs are critical tools integrated into system planning and grid operations."
Dave Oberholzer, General Manager at Resideo Grid Services, said, "I am extremely proud of the innovation, customer partnerships, and strong reputation our Grid Services team has built. By joining forces with EnergyHub, we will be able to offer our clients a broader ecosystem of DERs and leverage our winning platforms and talented team to accelerate the reliable and cost-effective transition to a carbon-free grid."
EnergyHub's platform is trusted by more than 120 utilities, who collectively serve more than 55 million customers, including APS, Duke Energy, Eversource, National Grid, and LADWP. With Resideo Grid Services, EnergyHub is making it easier for utilities to deploy new types of DER programs, gain visibility, and manage resources at scale.
The terms of the transaction were not disclosed.
EnergyHub is a subsidiary of Alarm.com (NASDAQ:ALRM), the leading platform for the intelligently connected property.
About EnergyHub
EnergyHub is the leading grid-edge DERMS provider. Utilities rely on EnergyHub's DERMS platform to manage all distributed energy resources to serve grid and market objectives. EnergyHub works with over 120 utilities in North America to manage more than 2.5 GW of dispatchable flexible capacity. We empower utilities and their customers to create a clean, distributed energy future. EnergyHub is a subsidiary of Alarm.com (NASDAQ:ALRM). For more information, visit www.energyhub.com.
About Resideo Grid Services
Resideo Grid Services is a leader in demand response aggregation and program management, helping utilities and energy retailers manage grid demand with precision and efficiency. Since 2012, our team has been providing innovative solutions to reduce peak demand, optimize load flexibility, and support utility programs nationwide. Resideo currently manages or participates in nearly 300 U.S. utility demand management programs and engages in six wholesale energy markets.
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