Duke Energy acquires Phoenix Energy Technologies

Duke Energy acquired a majority share of Phoenix Energy Technologies, a provider of energy management systems and services for commercial customers.

“We welcome Phoenix Energy Technologies to the Duke Energy Commercial Portfolio as we build more capabilities to help our customers reduce their energy consumption, decrease their environmental impact and achieve their corporate sustainability goals,” said Greg Wolf, president of Duke Energy’s Commercial Portfolio.

“PhoenixET has a proven track record of developing and executing energy management systems that drive out inefficiencies and save customers money,” added Wolf. “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’s software is capable of integrating an entire customer’s portfolio of buildings without the deployment of additional hardware.

Once PhoenixET completes the building integration process, the company uses its proprietary software to analyze data, such as occupancy, weather, equipment problems, heating, ventilation and air conditioning. This allows PhoenixET to provide savings to its customers in real time through remote diagnostic and repair tools.

After the transaction, PhoenixET will continue to operate independently with its established management team.