SEW Acquires GridExchange - Transactive Energy Platforms - Pioneering the Future of Clean Energy Transition

IRVINE, Calif., October 23, 2023--(BUSINESS WIRE)--SEW, a global leader in AI-Powered Connected Customer (CX) and Workforce (WX) Experience Industry Cloud Platforms, announces its acquisition of GridExchange, a cutting-edge Transactive Energy software platform, from Alectra Utilities Corporation.

GridExchange empowers energy consumers to transition from passive users to proactive prosumers, leveraging distributed energy resources (DERs) such as solar panels, battery storage, and EV (Electric Vehicles). Through a secure and user-friendly Customer Experience (CX), GridExchange facilitates seamless exchanges of energy, driving a reduction in greenhouse gas CO2 emissions, lowering energy costs, and strengthening grid resiliency.

"At SEW, we are shaping a clean and sustainable energy future. The acquisition of GridExchange aligns perfectly with our vision and strategy of an intelligent, resilient, and sustainable energy ecosystem," stated Deepak Garg, CEO and Founder of SEW. "Our journey towards a sustainable future begins with empowering and educating individuals and businesses alike to actively participate in the energy revolution," emphasized Deepak Garg. "By integrating GridExchange into our SEW connected platform, we are not only driving cleaner energy transition and adoption but also revolutionizing the way people and communities engage with their energy consumption."

GridExchange’s web and mobile application allows utilities to engage customers with DERs, optimizing grid operations by managing peak load and maximizing GHG reduction. Customers, in turn, have the flexibility to contribute excess energy or adjust consumption patterns in exchange for financial incentives and loyalty rewards redeemable at local businesses.

Brian Bentz, President and CEO of Alectra, emphasized, "Our development of GridExchange, which helped to enable non-wires alternative pilots in our service territory, illustrates our commitment to enabling customers to participate in local energy markets. We are pleased that SEW will now be taking this platform to a global market."

Key benefits of the SEW-GridExchange platform include:

• Empowering Energy Choices: Customers can harness the potential of existing DERs, transforming into proactive contributors to the energy ecosystem.

• Reducing GHG Emissions: The incentivization of clean energy usage through GridExchange leads to a notable reduction in greenhouse gas emissions.

• Enhancing Grid Planning: The platform unlocks and optimizes DER values, increasing grid flexibility and resiliency; and contributes to integrated system planning with non-wires alternatives, reducing or deferring overall energy system costs.

Advocating for Policy Change: The initiative motivates regulators to propose standards and policies that pave the way for a cleaner energy future. GridExchange’s innovative application also demonstrates the following objectives:

• Leveraging cutting-edge transactive energy technology to facilitate DER participation in grid services and accurately track energy generation and consumption's GHG impact.

• Incentivizing customers who own or operate DERsl by providing valuable grid services.

• Introducing a pioneering customer rewards program, where points earned are redeemable for a range of goods and services from participating merchants.

SEW is committed to building a resilient and sustainable energy ecosystem through the integration of advanced technologies like AI, ML, and IoT. With over 1.2 billion users and adoption by 410+ utilities worldwide, SEW is at the forefront of driving the transition towards an intelligent energy future.

This landmark acquisition not only signifies a major stride towards sustainable energy, but also underscores SEW's commitment to pioneer a greener future through advanced technology. SEW's mission is to engage, empower, and educate billions of people worldwide to conserve energy and water. Now, with the addition of GridExchange, SEW is poised to take sustainability to new heights.

About Alectra Inc.

Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses across an 1,800 square kilometers service territory comprising 17 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford West Gwillimbury, Guelph, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, Rockwood, St. Catharine’s, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions (Vaughan).

Our goal is to be the energy ally that our customers expect us to be. We are equipped to discover the possibilities of energy conservation and new technologies for enhancing the quality of life in the communities we serve.

Discover your new energy. Shape the future. Discover the possibilities. Learn more at: http://www.AlectraUtilities.com

About SEW

SEW, with its innovative and industry-leading connected cloud platforms, delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT Analytics to the global energy, water, and gas providers. At SEW, the vision is to Engage, Empower, and Educate billions of people to save energy and water. We partner with businesses to deliver platforms that are easy-to-use, integrate seamlessly, and help build a strong technological foundation that allows them to become future ready.

Learn more at: http://www.SEW.ai

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Contacts

Mashal Dhawan
Mashal.Dhawan@sew.ai