Renewable energy procurement platform Zeigo has been acquired by market leader Schneider Electric
Back in November, Springwise covered Zeigo, a technology platform that speeds up the process of procuring a power purchase agreement (PPA) for renewable energy – making it easier and more cost effective. Now, Zeigo has been acquired by Schneider Electric, a leader in the digital transformation of energy management, automation, and sustainability.
Zeigo’s technology simplifies and standardises PPA procurement, streamlining a complicated and time-consuming process that can act as a blocker for companies who wish to switch to renewable energy. The platform is also increasingly being used for aggregated PPAs, where a group of businesses band together to purchase energy. Buying together like this allows small companies to benefit from the negotiation, cost, and price advantages usually reserved for the largest organisations.
Zeigo’s AI capabilities fit well with Schneider’s existing technology solutions and advisory services, and the acquisition is intended to add further value for companies who wish to run their businesses on clean energy.
“Zeigo is delighted to join forces with Schneider Electric to continue to accelerate the digital clean energy revolution,” said Zeigo founder and CEO Juan Pablo Cerda. “Together, we will bring innovative energy solutions to even more companies, to drive impact as they embark on their decarbonization journey.”
With the goal of limiting global warming to 1.5°C hanging in the balance, and companies setting targets to reach net zero, solutions that make it easier for companies to de-carbonise are crucial.
Speaking at a COP26 event hosted by Re_Set and Springwise in November 2021, Cerda explained, “We have proven that the current status quo is not getting us very far, since the UN Framework convention in 1992, CO2 emissions from energy and industry have increased by 60%. We need new ideas, new solutions to a big problem. We cannot rely on governments or anyone else to solve this problem, we are talking about our very own existence”.
By combining their expertise, Zeigo and Schneider Electric have the opportunity to make it easier than ever for companies to reduce the impact of their energy consumption.
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Words: Matthew Hempstead
14th January 2022