Market News
Recent Developments
New product launches
- In March 2022, FlexGen announced the launch of its new hybrid energy storage and generation solution. The system integrates solar, energy storage, and flexible generators to provide resilient and emissions-free power. FlexGen is a U.S.-based energy storage technology company that was founded in 2009 and is headquartered in Durham, North Carolina. The company specializes in the development of energy management systems and software for the utilities, industrial sectors, and government agencies.
- In January 2021, Bloom Energy unveiled new fuel cell-based solutions for distributed electricity generation. The systems can be configured as standalone or grid-connected to maximize efficiency and utilization of renewable energy. Bloom Energy is an American public company headquartered in San Jose, California. It manufactures and markets solid oxide fuel cells that produce electricity on-site. The company was founded in 2001 and came out of stealth mode in 2010.
- In October 2020, Cummins launched a new range of hybrid power solutions combining diesel or gas generators with battery storage. The systems aim to provide reliable and cost-effective power to commercial facilities and remote areas. Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.
Acquisition and partnerships
- In April 2022, Schneider Electric acquired Power System Professionals, a provider of power grid optimization software. This acquisition expands Schneider's hybrid power solutions capabilities. Schneider Electric SE is a French multinational company that specializes in digital automation and energy management. It addresses homes, buildings, data centers, infrastructure, and industries by combining energy technologies, real-time automation, software, and services.
- In June 2021, Siemens partnered with Trailar to integrate their microgrid controller with Trailar's solar hybrid power systems for remote telecom towers. Siemens AG is a German multinational technology conglomerate. Its operations encompass automation and digitalization in the process and manufacturing industries, as well as intelligent infrastructure for buildings.
- In May 2020, Caterpillar acquired CarbonPoint Solutions, a developer of modular hybrid power solutions. This strengthened Caterpillar's position in the hybrid power systems market. Caterpillar Inc., also known simply as CAT, is an American construction, mining, and other engineering equipment manufacturer. The company is the world's largest manufacturer of construction equipment. In 2018. CarbonPoint Solutions was founded in 2011 as Enhanced Energy Group to develop commercial carbon capture solutions built on the Navy's technology.
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