EVN Group has acquired 100% of CyberGrid GmbH & Co KG (CyberGrid), a technology provider and specialist in flexibility management solutions.
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EVN Group, one of Europe’s largest energy services providers, has recognized the need for improved management of flexibility resources in the energy market given the expansion of variable, renewable energy generation and new requirements from EU-level entities. Moreover, maintaining the security of supply has progressively become more critical during times of uncertainty. Wide-ranging price fluctuations and overall high price levels on the power exchanges further underscore the need for stakeholders to diversify their assets and offerings in the marketplace, while also maintaining a smart IT infrastructure that enables agile decision making. To address these challenges, CyberGrid provides novel software tools and services with their proprietary ICT technology, named CyberNoc.
CyberGrid's flexibility management platform CyberNoc manages flexible energy resources, virtual power plants, and has been used in multiple European-wide projects. CyberGrid will enhance EVN’s customer offerings with innovative flexibility services, improve their competitive advantage, and develop EVN's active role in emerging flexibility markets. As a member of EVN Group, CyberGrid will expand its footprint in the energy flexibility business throughout Europe, seizing the emerging market opportunities with demand response, renewables, and battery storage. This enables its commercial customers to actively contribute to the green energy transition.
Klaus Stricker, Head of Energy Planning of EVN Group, said: “I am delighted to welcome CyberGrid to EVN Group. This acquisition is an important step forward in the delivery of our vision, gain a competitive advantage in the forthcoming energy flexibility sector, and expand on our offerings to end customers.”
Alexander Kofink, CEO of CyberGrid stated: “CyberGrid's proprietary technology and track record will further expand EVN’s innovative solution capabilities and enable growth opportunities as European markets for flexibility continue to progress. On the other hand, EVN strengthens the financial power of CyberGrid. CyberGrid’s competent market presence is to be expanded.”
CyberGrid’s co-founders Marko Svetina and Peter Nemcek, said: “The need for flexibility in the European power sector is continuing to grow, so we are thrilled to be working with EVN to leverage their value chains and scale-up CyberGrid’s software solutions and services in the European and other international markets.”
CyberGrid technology will help EVN customers to actively participate in the energy transition.
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