But before we look at the leading acquisitions in the sector, let's explain what Energy Storage is. Energy Storage comprises mankind's methods of conserving, as far as possible, a certain amount of energy in any form. Its purpose is to use it when needed, concentrating and releasing energy that can be consumed during or after the storage process.
Engie offers a wide range of energy efficiency solutions, flexibility of electrical or renewable energy solutions. It adapts to the needs of its industrial and commercial customers seeking to optimise their energy consumption and associated costs. Recently, the Group has invested in several energy management solutions, including, in February 2015, Tendril. It is a company that develops energy service management solutions through an open software platform in the cloud. In early 2016, it acquired OpTerra, a company that supports thousands of customers in controlling their energy consumption by offering a suite of services and recently. Engie has acquired the 80% from Green Charge Networks, a California-based US company that is a leader in the storage battery market.
Green Charge Networks uses its proprietary analysis systems and software algorithms to develop, operate and optimise battery systems for its customers in the commercial and industrial sectors. It develops a portfolio of 48 MWh storage projects, implemented or under construction in more than 150 locations.
Calnetix Technologies is a developer and manufacturer of high-speed permanent magnet motor generators, power electronics and magnetic bearings for a variety of applications and industries.
The company Vycondesigns and manufactures energy storage systems, working with original equipment manufacturers to expand the reach of its flywheel products and identify new applications for its technology.
Calnetix Technologies has acquired Vycon, as it has for years demanded clean and reliable energy recycling and storage solutions in a wide range of markets, including mission critical backup, transportation, general industry, microgrids and others from Vycon. In addition, Vycon's business model will help ensure an even greater level of collaboration with its OEM distribution partners, leading to increased market adoption.