• 2017 July 4 15:35

    Wärtsilä completes acquisition of Greensmith Energy Management Systems Inc.

    The technology group Wärtsilä has closed the acquisition of Greensmith Energy Management Systems Inc., a market leader in grid-scale energy storage software and integrated solutions. The companies announced the acquisition in May following a year-long global cooperation on stand-alone energy storage and hybrid energy solutions, the Finnish Corp. said on Monday.

    In 2016, Greensmith’s revenue was USD 32 million with over 40 employees. The transaction is valued at USD 170 million (enterprise value). Greensmith will operate as a business unit within Wärtsilä Energy Solutions providing both stand-alone energy storage as well as hybridized energy systems, control software, and integration expertise.

    The acquisition will enable Wärtsilä to rapidly expand its footprint in the energy storage market globally and position itself as a premier energy system integrator. Growth in the energy storage market is expanding from the United States to new regions including the United Kingdom, Asia and Australia. When Wärtsilä engine plants are further optimized with energy storage, new sources of value can be offered to customers and partners. Also, the growing capacity of renewable generation, including solar PV, becomes more sustainable and attractive when integrated with advanced energy storage.

    “The acquisition of Greensmith positions Wärtsilä as a global leader in energy system integration and hybrid solutions”, said Javier Cavada, President of Wärtsilä Energy Solutions. “Greensmith brings an unmatched track-record of software and systems integration capabilities, having delivered a third of all 2016 energy storage installations in North America. Wärtsilä’s global footprint with an extensive sales and service network, besides its proven EPC expertise, will create significant synergies and growth.”

    As a proven energy storage solutions and software company, Greensmith has integrated and installed over 60 grid-scale systems including an 80MWh turn-key system recently deployed in California in under 4 months to address a capacity emergency. The company provides a full range of capabilities – from full turn-key solutions to design and integration services and a fifth generation software package (GEMS) that today supports multiple energy and power applications. Since 2013, Greensmith has also deployed five grid-scale systems in the PJM frequency regulation market (Pennsylvania, Jersey, Maryland power pool), the world’s largest wholesale market, and serves a growing number of independent power producers, investor-owned utilities, and engineering procurement and construction companies around the world.

    “The Greensmith team is excited and honored to become an integral part of Wärtsilä, a global leader in energy solutions”, said John Jung, Greensmith President & CEO. “With the accelerating growth in the energy storage market, as well as, the need for more integrated, intelligent hybrid energy solutions – the timing could not be better.”




2020 July 3

18:37 DistriRail adds its rail schedules to the Port of Rotterdam Authority’s Navigate tool
18:07 ClassNK releases amendments to class rules
17:44 Possibilities of digital transformation of military shipbuilding to be discussed at "ARMY-2020" forum
17:05 ECSA welcomes study on social aspects within the maritime transport sector
16:50 Rosmorrechflot warns about Russia’s risk to move from White to Grey list of Paris MoU
16:24 11 major international companies join forces to accelerate the energy transition in transport and logistics
15:48 Hydrographic Company and MRTS sign contract on construction of Utrenny terminal facilities
15:10 CMA CGM announces rates from Asia to Red Sea
14:43 ABP publishes its Annual Review 2020
14:10 Port of Savannah’s Ocean Terminal takes delivery of two mobile harbor cranes
13:12 Alfa Laval wins SEK 130 million offshore order in China
12:26 Throughput of port Azov in 6M’2020 fell by 15% YoY
12:01 ICS launches Guidance for Engine Room Safety
11:47 North-Western Shipping Company merges into Volga-Fleet
11:15 CMA CGM announces FAK rates from Asia to North Europe
10:59 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
10:13 Ocean Yield takes delivery of newcastlemax dry bulk newbuilding
10:12 GTT and Zvezda Shipbuilding Complex sign a Technical Assistance and License Agreement for the construction of LNG carriers incorporating membrane tank systems
09:52 Bunker prices changed slightly at the Port of Saint-Petersburg, Russia (graph)
09:34 Baltic Dry Index as of July 2
09:20 MABUX: Bunker market this morning, July 03
09:16 Oil prices start decreasing
09:09 Baleària presents a proposal for the construction and operation of the new passenger terminal in the Port of Valencia

2020 July 2

18:37 CMA CGM announces FAK rates from Asia to the Mediterranean
18:04 ClassNK releases Annual Report on Port State Control
18:04 CMA CGM updates PSS for Reefer Cargo from North Europe, Scandinavia, Poland & Baltic, West Med & Adriatic to the Indian Subcontinent, Middle East Gulf & Red Sea
17:52 Glavgosexpertiza approves expansion of access canal to Sabetta port
17:35 Royal Niestern Sander delivers the hydrographic survey vessel ‘Geo Ranger’ to Geo Plus B.V.
17:21 Oil shipments via CPC Marine Terminal in 6M’20 climbed by 2.2% YoY
17:04 Kongsberg Digital acquires Danish maritime software company COACH Solutions
16:55 Federal government waives the traffic dues for the Kiel Canal until 31.12.2020
16:45 Fincantieri subsidiary INSIS acquired a majority share in Support Logistic Services
16:23 Webinar “Pusher-tugs as a pivot of river transportation chain. Will we have them built?” slated for 8 July 2020
16:04 IPCSA launches the Network of Trusted Networks
15:42 Shipbuilding facility of Neptun CDB in Novaya Ladoga lays down two cruise ships of Project PV20S
15:20 New transshipment terminal soon to become operational at the Port of Gothenburg
15:04 250,000 m2 of rooftop solar panels to be installed in the port of Amsterdam by 2024
14:23 MABUX releases weekly review of global bunker market
14:03 Nippon Paint Marine completes the extensive re-coating of the 1911-built cargo ship
13:29 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 5% in 6M’20
13:05 Premiere for Rolls-Royce's first MTU gas engines in new Doeksen ferry
12:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
12:22 Rosmorport announced tender for construction of LNG transshipment facility in Kamchatka
12:00 APM Terminals introduces APIs to transform the next generation of terminal data
11:21 Russian Railways' network loading fell by 4.5% in 6M’ 2020
11:03 ECSA calls on the German Presidency to support a stronger European shipping industry
10:47 Bunker sales at Vladivostok port in 6M’2020 fell by 23% YoY
10:29 Damen Maaskant Shipyards Stellendam delivers trawler Jonge Johannes
10:24 Tallink Grupp makes strategic future investment and purchases ro-pax vessel Sailor
10:02 Oil prices continue rising
09:59 Yang Ming fulfills green promise carbon emission reduced 51% in 2019
09:45 Tallink Grupp adds more departures to Helsinki-Riga and Turku-Tallinn routes for August 2020
09:28 MABUX: Bunker market this morning, July 02
09:23 Inaugural meeting of the international advisory panel on maritime decarbonisation
09:18 Baltic Dry Index as of July 1

2020 July 1

16:18 COVID-19 dampens long-term energy demand and highlights scale of climate emergency
15:52 Konecranes receives order from Louisiana for two portal harbor cranes
14:26 Panama emphasises its support for seafarers' rights
13:43 DNV GL grants type approval for Aquarius UV / EC BWMS
12:36 ICS: Global shipping fleet to sound horns on 8 July to remind governments over need for urgent crew change