Edinburgh-based Flexitricity, a company providing asset optimization services to flexible energy companies across Great Britain, was acquired in a £36 million transaction. Drax Group, a renewable energy company based in the U.K, is incorporating Flextricity’s 85-person team into its FlexGen business.
Alongside asset optimization, Flexitricity offers route-to-market services for grid scale assets through its controls platform. Its solutions enable asset owners to participate in the wholesale energy, balancing and ancillary services markets. Additionally, Flexitricity offers demand response services for battery energy storage systems, or BESS, gas peakers, renewables and demand-side response organizations.
“Adding Flexitricity’s expertise and capability which uses AI and advanced machine learning software, delivered via their proprietary platform, supports our options for growth, particularly in our plans for a [gigawatt-scale] BESS portfolio as a part of our FlexGen business, while continuing to provide energy security to the UK power system and delivering new energy services for our customers,” Will Gardiner, Drax’s CEO, said in a statement.
