Post: GridBeyond Acquires Veritone’s Energy Business

GridBeyond Acquires Veritone’s Energy Business

GridBeyond Acquires Veritone’s Energy Business

GridBeyond, a global smart energy company, has announced the acquisition of Veritone Inc Energy Business, a leader in AI software and services in North America, strengthening the business’ position in the US market.

The acquisition brings together two of the most innovative companies in energy forecasting, trading and optimization. GridBeyond’s technology platform provides real-time optimisation of distributed assets across a range of industries and asset types. Veritone Energy’s AI-powered software harnesses the power of AI to revolutionize today’s energy ecosystems through proprietary, intelligent, real-time energy forecasting, optimization, and control—all of which unlock the full potential of DERs while enhancing reliability.

The combination of the two technologies will allow GridBeyond to offer more functionalities to its customers through a new design platform, an extremely accurate forecasting technology, led by its data science team, which will enhance and evolve its’ market leading product enabling customers to generate revenues and support them on their transition to net zero.

In line with GridBeyond’s core values: customer focus, innovation, and teamwork, Veritone Energy employees will join the company, doubling the size of the team in North America.

Michael Phelan, GridBeyond Chief Executive Officer and Co-Founder commented:

Led by Michael Phelan and Richard O’ Loughlin, GridBeyond provides a powerful combination of technology excellence, consultative approach, and unrivalled expertise to provide its partners and clients with future-proof access to energy services. The company supports electricity grid integration with renewables to make the leap to a greener future.

Sean McEvoy, General Manager of Energy at Veritone added: