“Our acquisition by Enel underscores the strategic intersection of renewable energy production, energy storage and an intelligent software controls platform. Enel was our preferred acquirer, and Cascadia was our preferred partner in completing this important transaction. Throughout the process, the team at Cascadia upheld our value, interests and objectives, and we found their strategic counsel and support to be invaluable.”
Case Study
Demand Energy
Overview
- Demand Energy provides proven energy storage/distributed energy resource (“DER”) management software, hardware, integration, and asset management to the commercial and industrial (“C&I”) sector
- Demand Energy’s controls software is a leading solution for managing grid-side (front of meter) and C&I/residential (behind the meter) storage systems + DERs in an integrated cloud based open sourced software platform
Situation
- Demand Energy has a market advantage in that (i) it is a first-mover in the fast and growing New York City market and (ii) its software platform can operate on both sides of the meter
- Several large corporates reached out to Demand Energy with interest in acquiring the company and its technology platform to operate in their energy storage deployments
- Cascadia was engaged by Demand Energy to pursue a full sale process to gauge market interest from domestic and international entities
Cascadia Process
- Cascadia Capital positioned Demand Energy around the sophistication of its technology platform as well as its first-mover barrier to entry in New York City, which is arguably the most challenging market to deploy and operate
- Cascadia marketed Demand Energy to key industry players that showed interest in both front and behind the meter energy storage applications
- After a competitive process, Demand Energy was acquired by Enel Green Power in Q1 of 2017
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