Duke Energy announced on Thursday that they have acquired a majority share of Phoenix Energy Technologies (PhoenixET), an energy management systems company.
The company is based in Irvine, California, and is focused on the monitoring and control over energy usage at enterprise levels for commercial entities.
“PhoenixET has a proven track record of developing and executing energy management systems that drive out inefficiencies and save customers money,” Duke Energy President Greg Wolf said. “PhoenixET delivers a skilled analytics team and an advanced software system that enables commercial customers to reduce their energy usage without upfront capital costs.”
PhoenixET will continue to operate as an independent entity following this transaction with an established management team. Terms of the transaction were not disclosed in the announcement.
They do state, however, that PhoenixET, in partnership with Duke Energy, will be able to provide additional value to their commercial services and energy solutions.
“PhoenixET has positioned itself as a thought leader in enterprise data management and business processes,” Phoenix ET CEO Lisa Varga said. “We have built strong partnerships with our clients and the industry to drive innovation and create tool sets to respond to our clients’ needs. Our enterprise software and services continue to help companies drive savings, reduce their carbon footprint, manage their business process and impact their bottom line year over year.”
