has been acquired by
Cascadia Capital, an investment bank serving middle market clients globally, today announced that it was the exclusive financial advisor to Demand Energy Networks, Inc, (“Demand” or “the Company”), a leading developer and integrator of distributed energy storage systems and software, on its acquisition by Enel Green Power North America, Inc. (“EGP”), a subsidiary of Italian-based multinational utility, Enel SpA (BIT:ENEL).
Demand, based in Liberty Lake, WA., developed the Distributed Energy Network Optimization System (“DEN.OS”), an intelligent software controls platform that enables real-time optimization of energy management and revolutionizes how electricity is generated, stored and consumed. The end-to-end DEN.OS platform maximizes the economic returns of before-the-meter storage systems alone or in combination with distributed generation.
Recognizing the speed at which the energy storage market was moving, Demand, through Cascadia Capital, sought to partner with a global entity capable of deploying DEN’s solutions immediately and broadly, and building on its market leading position in New York City. EGP was identified as an ideal partner that provides Demand access to one of the world’s most diversified portfolios of renewable energy projects. At the same time, EGP realized the sophistication and benefits of Demand’s platform, and saw the potential opportunity to leverage the Company’s technology across its own projects on a global scale.
“Our acquisition by Enel underscores the strategic intersection of renewable energy production, energy storage and an intelligent software controls platform.” said Gregg Patterson, President and CEO of Demand Energy. “Enel is 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.”
“Cascadia was pleased to act as the sole financial adviser for Demand during this critical process to help them achieve their best business outcome,” said Jamie Boyd, managing director at Cascadia Capital. “The acquisition also demonstrates how international companies like Enel continue to find growth opportunities in the US as they seek strategic partners and competitive differentiation in an evolving global marketplace.”
For more information about this transaction, please contact:
Jamie Boyd
Managing Director
jboyd@cascadiacapital.com
(206) 436-2514
Michael Butler
Chairman & CEO
mbutler@cascadiacapital.com
(206) 436-2530