Energy company ERM Power has acquired Greensense, a data analytics and energy and resource management software company that operates across Australia.
The acquisition is expected to be completed this month, with the cost of $5.25 million to be funded out of cash.
With offices in Perth and Melbourne, Greensense creates software for building performance, energy and resource consumption, and sustainability monitoring for businesses and governments. Its key capabilities includes acquisition and standardisation of data from a wide range of sources, real-time demand alerting, site usage benchmark and forecasting.
ERM Chief Executive and Managing Director Jon Stretch said the acquisition was an important step towards delivering on the company’s strategy and growth plans.
“Greensense is the next step in providing a real-time, in-depth view on resource consumption, beyond a customer’s ERM Power energy usage, to help our government, commercial and industrial customers better manage energy, waste and water.
“This is not a significant acquisition in terms of cost but importantly, it delivers the software and smarts around which we can build value-added services and energy efficiency solutions,” Mr Stretch said.
Greensense Managing Director Fabian Le Gay Brereton said the team was delighted to be joining ERM Power, which he said has an aligned culture of agility and innovation.
“Greensense is a great addition to the ERM Power proposition and together, will lead the way in making energy management solutions a total and accessible package for business and governments.
“In Australia, buildings account for 40 per cent of primary energy use, 12 per cent of water consumption and up to 40 per cent of CO2 emissions. For most organisations, there are significant opportunities for savings which we can now demonstrate on a wide scale.”