Honeywell has expanded its smart energy portfolio with a tuck-in acquisition of three utility platforms from grid management solution provider SparkMeter for an undisclosed sum.
The three platforms include Praxis, GridScan and GridFin. The acquisition incorporates intellectual property as well as certain related assets from SparkMeter.
Honeywell says the integration of these grid intelligence technologies from SparkMeter “significantly enhances Honeywell Forge Performance+ for Utilities, enabling the delivery of scalable, data-driven solutions designed to modernise grid infrastructure and address the increasing demand for energy”.
Praxis is a data platform designed to deliver insights and analytics that help utilities modernise, maximise and monetise their assets.
GridScan is a software application that provides visibility into the operational performance and health of distribution grids.
Meanwhile, GridFin serves as a financial management application that analyses and manages energy supply costs, optimises customer rates, and improves overall financial performance.
In 2023, SparkMeter announced a $5 million investment and global partnership with Honeywell Smart Energy. Under that deal, Honeywell Smart Energy provided its base of US utility customers with SparkMeter’s integrated approach to cloud-based metering and operational analytics software and offered SparkMeter’s metering hardware to large emerging market countries.
Last year, SparkMeter announced it would support Honeywell’s new Forge Performance+ for Utilities. Honeywell leveraged SparkMeter’s industrial IoT technology as part of its cloud-based platform to help utilities improve their operations and enhance the performance of existing utility grid assets.
“As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernise their infrastructure to meet these needs,” Honeywell Smart Energy president Amol Motivala says.
“By combining these SparkMeter technologies with Honeywell Forge Performance+ for Utilities, we will be able to provide our customers with advanced tools that automate, simplify and optimise their daily planning, operations and existing grid assets.
“The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently – allowing for more comprehensive data management, business intelligence and analytics functionality for utilities.”
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