E.on takes majority stake in German smart grid solutions start-up gridX

German energy company E.on SE (ETR:EOAN) has acquired a majority stake in Aachen-based smart grid solutions provider GridX GmbH as part of efforts to expand its portfolio of digital solutions for the transition to green energy.

GridX, founded by its managers David Balensiefen and Andreas Booke in 2016, provides digital platform solutions that connect, control and optimise decentralised energy resources such as electric cars. A key product for the company is a platform that enables devices and systems to be linked and controlled -- from heat pumps to solar systems to battery storage, regardless of their manufacturer.

E.on has been cooperating with the start-up since 2017 and GridX has installed a load management system at E.on's headquarters in Essen for electric vehicle charging.

"Through gridX, we will be able to offer our customers innovative digital energy management solutions for the intelligent energy management of the entire home including the charging of e-cars and enable complete smart neighbourhoods," said E.on's chief strategy and innovation officer Thomas Birr.

The deal fits in with the digitalisation push announced by chief executive Leonhard Birnbaum at the general meeting in May. Digitisation is critical to success, including for the energy transition in general, and there is no alternative to investing in digital control, Birnbaum said back then. Germany needs a completely new, digital operating system and E.on wants to build this platform to connect renewable energy plants, storage facilities and customers.

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