GreenSync and the smart electricity grid of tomorrow
More controls for electricity consumers
GreenSync, which specialises in technology for better energy management, is expanding its business to help create the smart electricity grid of the future.
We’re part of the transformation of the electricity sector, sparking the move to a low carbon, efficient and stable grid. The future has arrived.Bruce ThompsonCEO, GreenSync
GreenSync, which specialises in technology for better energy management, provides digital automation and control solutions that are being deployed across Australia, New Zealand, the United Kingdom and Japan.
The CEFC, through the Clean Energy Innovation Fund, committed a total of $7.4 million to GreenSync across two capital raisings to support the company’s development. The CEFC investment was repaid following the acquisition of GreenSync by the technology development arm of Intellihub Group, CrescoNet, in April 2022.
Intellihub has described the GreenSync acquisition as strategically important as the energy sector grapples with the rapid increase of household renewable energy systems.
The CEFC also played an important role in supporting the development of Intellihub between 2018 and 2021, committing $75 million during those years to support the continued growth of the smart metering business. The CEFC Intellihub finance was repaid in December 2021.
Decarbonisation and decentralisation are profoundly changing the operations of electricity systems across the globe.
Instead of small numbers of large generators sending electricity through poles and wires, distributed energy technologies from many different vendors are becoming more commonplace and many smaller operators are generating energy for their own use and regularly exporting to the grid.
A new generation of innovators
The Intellihub acquisition of GreenSync combines the GreenSync-developed cloud-based Decentralised Energy Exchange (deX) software with the Intellihub smart metering platform to create virtual power plants that can help stabilise the grid, enable the integration of higher levels of renewable energy, and unlock value for retailers and consumers.
The GreenSync deX platform was designed for industrial and commercial facilities, energy retailers and electrical utilities, as well as residential precincts and campuses.
Internationally recognised for its cleantech innovation, GreenSync was named in the 2019 and 2020 Global Cleantech 100 lists which features private, independent and for-profit companies best positioned to contribute to a more digitised, decarbonised and resource efficient industrial future.