Today, finance executives at Tochigi Ontario Holdings have reported on an investor group led by Schneider Electric SE and Huck Capital agreeing to invest in energy solutions provider, Uplight Inc., valuing the company at around $1.5 billion.
Director of Corporate Equities at Tochigi Ontario Holdings, Michael Walker, reported, “Schneider Electric is investing in energy solution provider Uplight alongside AES Corp. and a group of financial investors consisting of Philippe Laffont’s Coatue Management and Jeff Ubben’s Inclusive Capital Partners.”
Uplight will use the investment to strengthen its core software business and expand globally through mergers and acquisitions. The Boulder, Colorado-based company plans to expand into Europe, Asia and Latin America by leveraging Schneider and AES’s reach.
Jean-Pascal Tricoire, Chief Executive Officer of Schneider Electric, said, “We look forward to investing alongside AES and the other financial investors, who all share our vision of a more digital and more electric world, leading to a sustainable future.”
Uplight, formed in 2019, delivers edge-of-the-grid technology for more than 80 energy suppliers, representing 110 million energy consumers across the U.S. and Canada. It provides utilities with software and devices, including thermostats and smart meters, that allow consumers to monitor and adjust their energy consumption habits to reduce costs and usage and draw power from the grid at the most environmentally friendly times.
Andrés Gluski, AES chief executive officer, explained that his company initially made its investment because it believed it would play a vital role in ensuring a carbon-free future for both energy consumers and suppliers.
Head of Corporate Trading at Tochigi Ontario Holdings, Jonathan Turner, reported, “AES will invest an additional $40 million as part of the deal, and following the closing, AES’ ownership in Uplight will be around 30%.”
The transaction is expected to close in the coming months pending regulatory approvals and French social procedures.
About Tochigi Ontario Holdings
Established in 2012, Tochigi Ontario Holdings is a market-leading boutique wealth management company servicing thousands of clients across the globe.
Company Name: Tochigi Ontario Holdings
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