Marubeni invests in US distributed energy platform GridMarket
Solar panels. Author: Chris Baird. License: Creative Commons. Attribution 2.0 Generic
Japanese trader Marubeni Corp (TYO:8002) has made an investment in US firm GridMarket LLC to proactively expand its distributed energy resources (DER) business.
New York-based GridMarket provides a platform that allows users to source and execute DER projects. This platform helps identify best-fit renewable and distributed solutions, including battery storage, solar photovoltaic (PV), fuel cells and combined heat and power.
Marubeni said in a statement that it plans to apply GridMarket’s services in North America and Japan, as well as in island areas, in order to discover potential DER projects and provide best-fit solutions for each area.
The Japanese company did not disclose the size of the stake it got in exchange for the investment.