Homer Energy, a software company specializing in microgrid optimization, has been acquired by global safety science company UL.
The deal brings together UL’s experience and thought leadership in solar, wind and battery technology with Homer’s system design capabilities and distributed energy project database.
“The distributed energy market is a fast-growing segment of the renewable power industry,” said Jeff Smidt, vice president and general manager of UL’s Energy and Power Technologies division. “By combining our expertise in product testing certification and Homer Energy’s expertise in system design capabilities, we will help customers along the microgrids value chain realize more value and reinforce UL’s mission to make the world a safer place.”
A privately-owned company, Homer Energy provides training, advisory and analytic services, tools and software for decision making about the optimal mix of resources, system configuration, and capital and operating costs of microgrids.
Homer Energy employees will join UL’s existing Energy and Power Technologies division.
Lilienthal: Market has matured
In an email announcing the deal, Homer Energy CEO Peter Lilienthal said in the short term there will be few changes, “but over time you will see greater support and services for our global user base and more integration with other software. We are thrilled to be part of a much larger team and such a well-respected organization.”
Lilienthal described developing the Homer Energy software for over 25 years and leading the company with Marilyn Walker for the past 11 years. The company has its roots in the Village Power Program at the US Department of Energy’s National Renewable Energy Laboratory (NREL).
“Our growth strategy for Homer Energy has been very conservative as we waited for the distributed generation market to mature. That has now happened, and it is time to accelerate Homer Energy’s growth,” he said. “Of all the strategies we evaluated, this acquisition is by far the best.
He also noted that the acquisition allows Homer Energy to remain technology and vendor neutral.
The transaction closed on December 16, 2019. Terms were not disclosed.
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