AGL Energy Limited (AGL) today announced a commitment over ten years to US-based Energy Impact Partners’ (EIP) global coalition. This commitment gives AGL access to leading-edge technologies and strategic international partnerships with other energy companies collaborating to increase revenues, reduce costs and provide customers with smarter energy solutions through innovation.
EIP is a private equity firm that invests in emerging technologies, products, services and business models throughout the electricity supply chain, from generation to consumption.
AGL Managing Director & CEO, Andy Vesey, said: “We are pleased to become members of EIP’s Nexus strategic partner network, which gives us the opportunity to collaborate with some of the world’s leading energy companies in the development of new energy solutions.
“Innovation is key to our growth and customer focus and this investment will provide access to innovative ideas, technologies, and business models. This will benefit our customers through greater choice, more customer-intuitive energy solutions and a reduced carbon footprint through emerging, lower-emission technologies.”
AGL Executive General Manager, New Energy, Elisabeth Brinton added: “The investment with EIP forms part of a broader innovation strategy at AGL. For example, we have already directly supported and invested in local and international technology companies including Sunverge and Solar Analytics.
“The EIP partnership provides greater reach for AGL’s technology scanning and incubation, and a ready process to bring new solutions to scale. It is also a channel to international markets, strategic partnerships and finance for our innovative Australian technology partners,” said Ms Brinton.
“AGL will bring valuable new perspectives to Energy Impact Partners,” said EIP CEO and Managing Partner Hans Kobler.
“The Australian market is evolving rapidly, in some ways faster than North America or Europe. AGL will bring valuable insights as we seek solutions that have the ability to scale, and represents a trusted partner for our portfolio companies to expand into Australasia. EIP now truly embraces global insights and provides global access,” he said.
AGL joins Southern Company (NYSE: SO), National Grid plc (NYSE: NGG), Xcel Energy Inc. (NYSE: XEL), Ameren Corporation (NYSE: AEE), Great Plains Energy (NYSE: GXP), Fortis Inc. (TSX: FTS) and Avista Corp. (NYSE: AVA) as partners in EIP’s Nexus strategic partner network.
EIP recently announced investments in Opus One Solutions, which provides visibility and control to electric distribution utilities; Sense Labs, which enables customers to know exactly how much energy every device in their homes is consuming; and AutoGrid Systems, which offers big data analytics and cloud computing solutions for the energy industry.
AGL is one of Australia’s leading integrated energy companies. It is taking action to responsibly reduce its greenhouse gas emissions while providing secure and affordable energy to its customers. Drawing on over 175 years of experience, AGL serves its customers throughout eastern Australia with meeting their energy requirements, including gas, electricity, solar PV and related products and services. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, solar, landfill gas and biomass.
About Energy Impact Partners
Energy Impact Partners (EIP) is an investment firm focused on companies optimizing energy consumption and improving sustainable energy generation. EIP is based on a collaborative strategic investment approach, pioneered by the firm's principals at GE. EIP seeks to bring the best companies, experience and vision in the industry to bear on the emerging energy landscape. EIP's strategic partners include Southern Company, National Grid plc, Xcel Energy Inc., Ameren Corporation, Great Plains Energy, Fortis Inc., Avista Corp. and AGL Energy Limited. Key focus areas are set by EIP's strategic partners and include energy efficiency, sustainable generation, energy storage, connected devices, big data and software solutions, and energy management -- "The Grid of Things." For more information, visit www.energyimpactpartners.com.