Direct Energy acquires Panoramic Power

Direct Energy, one of North America’s largest energy and energy-related services companies, acquired Panoramic Power, a leading provider of device-level energy management solutions, for US$60 million.

The Panoramic Power energy management solution offers commercial and industrial business customers a unique wireless and self-powered circuit-level technology with cloud-based analytics. The solution is designed to give customers unmatched real-time visibility into their business operations through meaningful and actionable energy insights, enabling them to lower their energy consumption, reduce operating costs, and increase overall operational efficiency.

Direct Energy President and CEO Badar Khan announced, “It’s an exciting time to be in the energy industry. Direct Energy has seen remarkable success this past year with our existing Panoramic Power partnership, which supports our brand promise to help customers buy less of what we sell. With this exclusive technology, Direct Energy is now an even more innovative and effective energy solutions provider and partner with our customers.”

The acquisition builds upon an existing exclusive partnership between Panoramic Power and Direct Energy that began in June 2014, supporting Centrica’s growth strategy by offering unmatched energy management technology and expertise to further increase customer growth through its new global business unit, Distributed Energy & Power. The Panoramic Power solution is recommended for businesses throughout North America, Europe and APAC, ranging from offices to multi-site retail to industrial and large commercial operations such as factories or hospitals.