Schneider Electric completes investment in Operation Technology, Inc. (“ETAP”) to spearhead smart and green electrification
*Takes a controlling stake in the business
*Delivers a combined digital offering that:
Streamlines increasingly complex mission-critical power systems
Accelerates and improves integration of renewables, microgrids, fuel cells and battery
storage technologies into the power grid
Paves the way for green data centers, resilient power grids, decarbonized transport and energy generation
Reduces electricity grid CapEx by up to 20% through improved design and performance
*Assures ETAP operations as an independent software-agnostic vendor
SEOUL--(Korea Newswire) July 01, 2021 -- Further to the announcement made on 16th November 2020, Schneider Electric, the global leader in digital transformation of energy management and automation, announces that it has successfully completed the transaction to purchase a controlling stake in Operation Technology Inc. (ETAP). ETAP will be consolidated within the Energy Management business.
ETAP is an energy management & engineering solutions company specializing in modelling, simulation, design, planning, monitoring, control, operator training, optimization, and automation of power systems. ETAP's integrated digital-twin platform offers the best comprehensive suite of enterprise solutions. As the only high-impact software in its class, ETAP has been a market and technology leader for over 35 years, providing the most comprehensive and widely-used enterprise solutions trusted by 10,000+ companies ranging from, generation, transmission, distribution, industrial, transportation, data centers to low-voltage power systems.
The ETAP investment completes Schneider’s existing software portfolio for electricity power systems. Its technology will be integrated in Schneider’s unique cloud-based platform for the design and operation of mission-critical power systems using vendor-agnostic software-driven modelling, design, real-time predictive simulation and operation solutions. This will help deliver end-to-end lifecycle digitalization and bring enhanced efficiency, sustainability and resiliency to a broader audience and customer base.
Global customers and partners across critical process and hybrid industries, power plants and grids, data centers, railways and airports will benefit from enhanced modelling, design and predictive maintenance capabilities, supporting better integration of renewables, microgrids, fuel cells and battery storage technology.
A more efficient and low carbon future starts with smart design
By 2040, the world of electricity will be profoundly different: the share of electricity in everything we do will double, reaching at least 40 percent of final energy consumption; and six times more electricity will be generated from solar and wind(Source: IEA). Electrical distribution systems must digitize to support the energy transition. The combined solution will help improve power system performance from modelling, to design, to operations to drive improved grid asset performance, saving up to 20 percent in Total Capital Expenditure (CapEx).
Driving end-to-end lifecycle digitalization in its end markets
By digitally streamlining complex mission-critical systems, the joint Schneider Electric and ETAP offering will:
Maximize the power system production process through standardized vendor-agnostic and application-specific design templates, digital twin-enabled data models and product libraries
Protect operational staff and equipment from arc flash, overvoltage and overheating
Improve system uptime, anticipate failures and protect critical loads through preventative and predictive maintenance
Facilitate the addition of renewables, microgrids, fuel cells and battery storage technologies
The integration of Schneider Electric’s EcoStruxure™ Power Design platform and ETAP’s electrical software design solutions will extend their reach across multi-vendor operating platforms to millions of connected assets across energy-intensive and mission critical power systems applications.
Following the Group‘s recent strategic investment in IGE+XAO and ALPI, this further enhances Schneider Electric’s unique digital twin and software capabilities in Power, Grid, and mission-critical sectors, driving sustainability, efficiency, and resiliency across the lifecycle from CapEx to OpEx.
ETAP will continue to operate as an agnostic, independent software vendor, while its solutions will strengthen Schneider Electric's position as a major player in electrical design, operations & maintenance.
For Schneider Electric Energy & Sustainability Services
THE SPRING COMPANY
This is a news release distributed by Korea Newswire on behalf of this company.